Indeed, 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. Following the opening of its economy in the 1980s and the establishment of a 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; imports followed suit, reaching approximately $362 billion in 2023. Thuringian exports to Turkey grew from around €110 million (2015) to around €320 million (2024); the corresponding import figures were €146 million and €165 million. 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 motor vehicle parts ranked at the top.
The trip now being offered is open to all industries, but particularly promising opportunities exist in the fields of mechanical engineering, toolmaking, life sciences, and optics and photonics. While the latter economic and technological sector is a proven strength of the Thuringian economy, allowing it to gain a competitive edge in the Turkish market, the mechanical engineering sector has developed into a key growth driver in Turkey in recent years. Companies in this sector manufacture intermediate products and supply key industries such as the chemical, automotive, construction, energy, and agricultural sectors. Turkish mechanical engineering attracts investors with favorable investment conditions, including low labor costs, a reliable energy supply, and logistical advantages due to Turkey's geostrategic location. Further positive location factors include a well-trained workforce, investment incentives, and an innovation-oriented infrastructure.
With a population of over 85 million and a dynamically growing middle class, Turkey also offers Thuringian companies in the life sciences and healthcare sectors lucrative opportunities for business and cooperation. Given the prevalence of lifestyle diseases coupled with increasing health awareness, the demand for advanced medical and preventative products and services is rising.
Benefit from the dynamism of a growing economy, discover new business opportunities, and expand your international network – we cordially invite you to participate in our business trip to Turkey. Further information and registration details can be found [here/on our website] here.
