Turkey at the Crossroads
Located at the crossroads of Europe and Asia, Turkey is uniquely positioned to influence both political and economic events. It has the potential to
tap the markets of the European Union, eastern and southeastern Europe, the Middle East, the Caucasus, Central Asia, South Asia and the states of the Arabian Gulf. As a key U.S. partner in the region, Turkey's
size, population, and fast growing economy will prove very important as it plays a critical role in the regional stability and the shift to market-driven economies. Not surprisingly, the Department of Commerce
designated Turkey as one of the ten "Big Emerging Markets." Turkey's huge demand for energy has already started large regional projects such as oil and gas pipelines from the Central Asian republics. Turkey will
also create an East-West energy corridor, receiving natural gas from the East and passing it to the west -- Europe. As a result, the whole region's economy will improve. Turkey has a population of over 65
million; the second largest in Europe after Germany. The GNP of Turkey, USD204 billion, is on third of Canada and much higher than small European countries. With 5 percent average GNP growth since 1981, it
is the highest in OECD countries. Turkey's exports in 1998 were USD27 billion and imports were USD46 billion. United States is Turkey's second largest trading partner with a USD6.2 billion volume, with Germany
in the first position. Turkey imported approximately USD4 billion worth goods from the United States and exported USD2.2 billion worth goods to the U.S. in 1998.
Turkey is the most westernized Muslim country with a secular democracy regime. |
