Turkey’s trailer market: Intercontinental drift

From the July 2012 issue.

Turkey combines a European-style focus on progress and innovation and Asia’s unrivalled growth potential in one, striving state.

It's no surprise that Turkey is on the radar of almost every savvy investment company around the globe. Connecting the pulsating continent of Asia and Europe’s colourful southeast, Turkey has always had the luxury of mixed heritage. Today, that historic dualism has created a buzzing business environment unknown anywhere else in the world, combining a European-style focus on progress and innovation and Asia’s unrivalled growth potential in one, striving state.

The city of Istanbul is a good example for Turkey’s inherent polarity. At a first glance, it appears more like a European city than the throbbing port city of an ancient country, which is what it actually used to be. The architecture of old Constantinople, however, is still ostensible everywhere you go, giving the thriving city life a surreal ambience.

Blending antique setting and postmodern avant-gardism, modern Istanbul is proof that Turkey is a secular, progressive and modern country that has more than one finger on the pulse of time.

So, how come Turkey is still doing well in a time of global market volatility? Because it is more dynamic than a ‘classic’ European marketplace and still growing only comparable to emerging economies such as the BRIC region. Most importantly, Turkey has still not reached maturity, offering a wealth of opportunities for the trailing equipment industry to burgeon between Bosporus and Mediterranean shore.

Despite global doom and gloom, Turkey’s economic performance is still promising. According to a report published by the Turkish prime ministry, the share of the logistics sector in Turkey’s GDP is estimated between eight and 12 per cent, giving the transport industry significant political influence. Plus, “Turkey's geographical location establishes a link between the East and the West, which makes the transportation industry crucial for the economic development of the region,” according to the report. A key advantage to support the development of local manufacturing.

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