Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
The Government of Turkey has undertaken numerous infrastructure projects, which have, until recently, presented substantial opportunities for U.S. firms. However, due to the marked slowdown in the Turkish economy, several previously slated infrastructure projects have been put on hold. That said, opportunities remain for U.S. products and services in both the government and consumer spheres. The civilian aerospace sector has grown over 200% in the last decade. Project opportunities are chiefly in maintenance and repair operation (MRO) facilities, air traffic control systems and commercial space projects. In the energy sector, LNG exports to Turkey will offer major opportunities as Turkey plans to diversify its suppliers. Offshore oil and gas exploration will continue in the Mediterranean Sea and the Black Sea. License tenders for renewable energy, in particular solar, will continue in order to lessen dependency on oil & gas imports. Both the public and private sectors continue to invest substantially in advanced manufacturing, information and communication technologies and healthcare, among other sectors.
Turkey’s movement toward membership in the European Union, though frozen, nevertheless created momentum to adopt many European business regulations and standards in the country, ultimately making it easier to sell and conduct business in this market than in previous years. Despite economic uncertainty, Turkey still has numerous opportunities for U.S. products and services and the CS Turkey team is ready to assist.