Trading In Turkey

January 11, 2021

About Turkey

Economy

Turkey is one of the countries that is witnessing huge economic growth with its internal and external resources, due to this growth Turkey is considered a developed country and a member of the G-20 group. According to the Financial Times Special Report in 2013 regarding Turkey, Turkish government officials and business executives believed the fastest way to achieving export growth lies outside of traditional western markets. While the European Union used to account for more than half of all Turkey’s exports in 2018. The Turkish industry sector has been evolving rapidly in the past 30 years, in 1990 Industrial sector value was 48% while in 2015 it hit the value of 93% and that is directly linked to the expansion of industrial need to export internationally.

Trading Advantages in Turkey

Considering the huge variety in the industrial sector Turkey has made a significant reputation in suppling all trader’s needs regardless of the sector or the product which customers are looking for. Mixing the cheap prices and high-quality Turkey’s industrial sectors started to compete in common big markets such as China, Japan, and Germany, and that is the biggest reason why most businesses started to depend on Turkish products more than other products mostly in every field in the industry sector. We can also list the advantages briefly such as:

High Quality with universal standards.

Cheap prices due to natural resources.

Variety of banks supports all financial needs.

Perfect geographical location for shipping speed.

Favorite place for the investors due to the growing economy.

Hundreds of shipping methods such as international ports and airports.

Trading Sectors

Most investors who look to invest in Turkish products build their decisions on the advantages mentions previously and the availability of the products, mainly the best trading sectors are listed as below:

Trading Mechanism

Commercial trading has taken a new turn in its mechanism in the last years, investors used to have a traditional process where they travel to the country they are interested to invest in or purchase the products they need and hire a private driver and translator in addition to research before the trip which is a really expensive and hard process that has many issues involved and low-quality results. Nowadays to avoid all these expenses and time investors prefer the modern trading mechanism using business consulting companies where those companies use their communication teams and their own products database to give more efficiency, lower prices, and shorter time for this process to be achieved. We started these services in Turkey to shift from the traditional commercial trading to the modern mechanism to give the ultimate flexibility for our clients and since Turkey is the best spot for the most commercial trades in the middle east we wanted to start as one of the first companies who offer this services in the region for a better business experience and future.

Import and Export

Shipping has become an international procedure that has an international language, in order to import or export anything all that you have to do is confirming the shipment method that suits both sides regarding price, insurance, and freight. These methods can be listed with its details briefly as in the following:

Bill of Lading

A document issued by the carrier company, which is a transport contract between the exporter and the carrier company, and explains the port of shipment, the port of arrival, the way of transport, freight, and how to pay it. The bill of lading is considered as confirmation by the carrier company that the goods have been received in the hold of the ship, and it is also an ownership contract for the exporting party to it, where the bill describes the goods and the destination that is sent to.

Airway Bill

A document that constitutes the carrier’s confirmation of receipt and its willingness to transport the goods.

Waybill List

It is a written list of the names and descriptions of the goods shipped on a wagon, train or car, and it is the official document that the transport company accepts in the event that the owner of the goods requests the transport company or the insurance company to recover the price of what was lost or damaged during shipment.

Free on Board (FOB)

It means that the goods are the responsibility of the importer when the goods are ready to be delivered on the exporter’s shipping dock, then the importer takes charge of them and the shipping costs until they reach the importer’s port, and the importer bears the risk of loss if anything happens to the goods. This term is used only in maritime transport.

C.I.F (Cost – Insurance – Freight)

It means that the one who will ship the goods is the one who will bear all of the cost of the goods, insurance and shipping expenses until they are ready for delivery at the importer’s port. This term is used only in maritime transport.

C & F (Cost – Freight)

It means that the exporter bears the costs of the goods and the costs of shipping them, but the importer bears the insurance costs of the goods and this term is used only in maritime transport.

C & I (Cost – Insurance)

That is, the exporter bears the costs of the goods and their insurance, but the importer bears the shipping costs from the exporter’s port to the importer’s port. This term is used only in maritime transport.

Investing in Turkey or buying Turkish products is easier than any time before, all that you need is communicating with us about the product with the specifications required and we will respond to you with the prices and specifications list, and then we can set up the preferred Import – Export method that suits you and the manufacturer of your product or investment and all is ready to go, for any further details don’t forget to contact us.