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Nicht alles schwarzsehen (Don't be too pessimistic about the future)

 

In a recent article by the Frankfurter Allgemeine Zeitung published 20. October, 2016 entitled Nicht alles schwarzsehen (loosely translated to: Don't be too pessimistic about the future), the author discusses how recent political unrest in Turkey has affected the views of German mid-sized companies about doing business there. The author writes about the anxiety that these companies are facing these days as they follow the developments in Turkey, and fear that one of their most important export markets is becoming more and more unstable. A certain question has been thrown around between executives in regards to Turkey, and that is: Is Turkey still a reliable trading partner?
 
However, the author does not want the reader or German companies to be so pessimistic about Turkey despite trying times. They argue that even though the political situation is challenging, there is no need to overreact, as the economic situation is not affected by the turmoil. Even with all that is going on in Turkey at the moment, the country is still on track to continue to be one of the fastest growing economies in the world.
 
One of the biggest draws of Turkey as a trading and business partner, is due to its geographical location, being the bridge between Europe and Asia, allowing German companies easier access to millions of potential customers.  Anton Börner, President of the German Federation of Wholesale and Foreign Trade (BGA) even said that German mid-sized companies will benefit from the geographical proximity and the interdependence between both countries. Not only the countries location, but the availability of a large well-educated generation of young individuals, ever growing and ready to work, is another reason that Turkey is an optimal choice for companies to invest in.
 
Currently, Germany is not only the biggest Investor in Turkey, with about 6500 companies currently there, but also the most important trading partner. In the first half of 2016, German exports were growing by 5.4 according to German Trade&Invest (GTAI), and only with the continued investment and cooperation with Turkey can this number remain strong. The GTAI therefore concludes that companies should not be so pessimistic when looking to invest in Turkey.
 
The German-Turkish Chamber of Commerce has even given the all-clear in regard to questions like: trade limitations, customs clearance and supply chains. They remain optimistic that the economic situation is fine in Turkey, as the judicial framework in Turkey has in no way been affected by the political situation. The Chambers advice these days is such: get in touch with customers and suppliers in Turkey, remain in contact, keep good relations, and don't lose hope. A shift away from Turkey and their Turkish business partners would do no justice to the situation.