In fact, Turkey has been a very attractive option for international business for years. The country on the Bosporus is, alongside Israel, the only industrialized nation in the Eastern Mediterranean with a diversified economy. After the opening of the economy in the 1980s and the conclusion of the customs union with the EU in 1996, Turkey embarked on an extremely dynamic path in foreign trade – from the mid-1990s to 2023, exports increased tenfold to around 250 billion dollars; the same happened with imports, which amounted to around 362 billion dollars in 2023. Thuringian exports to Turkey grew from around 110 million euros (2015) to around 320 million euros (2024); for imports, the corresponding figures are 146 million euros and 165 million euros. The country's foreign trade increased not only quantitatively but also qualitatively: in 1995, textiles were the largest item in exports, while in 2022, automobiles and automotive parts were at the top.
The trip now on offer is open to all industries, but there are particularly great opportunities in the areas of mechanical and tool engineering, life sciences, and optics and photonics. While the latter economic and technology sector is a proven strength of the Thuringian economy, with which it can score points on the Turkish market, the mechanical engineering sector has developed into an important growth driver, especially in Turkey in recent years. Companies in the industry manufacture intermediate products and supply key industries such as the chemical, automotive, construction, energy, and agricultural industries. Turkish mechanical engineering impresses with favorable investment conditions such as low labor costs, a reliable energy supply, and logistical advantages due to Turkey's geostrategic location. Other positive location factors are well-trained workers, investment incentives, and an innovation-oriented infrastructure.
With a population of over 85 million people and a dynamically growing middle class, Turkey also offers Thuringian companies in the fields of life sciences and healthcare lucrative opportunities for business and cooperation. Given the spread of lifestyle diseases alongside a growing health awareness, the demand for advanced medical and prophylactic products and services is increasing.
Benefit from the dynamism of a growing economy, discover new business opportunities and expand your international network – we cordially invite you to take part in the business trip to Turkey. You can find further information and registration options here.
