Turkey is a country that offers opportunities in a wide variety of industries, capabilities and regional business knowledge and experience; this level of diversity has stimulated considerable interest for UK businesses in one of the fastest growing emerging market economies. The headroom for growth supported by strong fundamentals; dynamic demographics, growing middle class, high net wealth, strong and well established private sector, well-regulated and highly developed Banking sector, is considerable and offers major opportunities for British exporters and investors.
Sectors such as Construction, Healthcare, ICT, Energy, Automotive, Finance and Consumer Goods are only a few of the many sectors which offer especially high levels of potential for UK companies. UK companies within these sectors are actively seeking opportunities and cooperation to invest, establish distribution networks and find strategic partners which cover not only Turkey but the region.
The British Chamber of Commerce Turkey is an organization established over a century ago with the aim of supporting British business in Turkey and has been strategic partners with UK Trade & Investment since 2013. For the past 3 years, BCCT has been an active player for making it easier for UK companies to do business in Turkey by welcoming trade delegations and individual companies from UK’s various regions to Turkey and organising major events and activities to support this aim.
BCCT provides British companies with the tools to turn potential into business transactions during their visits to Turkey by preparing tailored market reports, carrying out business partner research projects and setting up meetings and networking events for visiting business people to interact with Turkish counterparts in industries of interest.
One of BCCT’s most successful activities is the organisation of 1−2−1 meetings where UK representatives and trade mission delegates can talk to potential Turkish business partners of interest. This is the one activity that generates the highest number of concrete business deals. Once these parties engage, BCCT stays in touch with both to ensure follow up and ongoing support for companies to successfully complete their market entry.
Welcoming delegations, helping company representatives in a market that is new for them, and making sure their market visit runs smoothly stand out as the core capabilities within BCCT’s service provision.
In 2015, BCCT has welcomed 7 UK trade missions in cooperation with UK Trade & Investment (UKTI). Morning briefings, B2B speed meetings, networking receptions, and further customised services were all designed to deliver the best possible potential to lead UK companies and their newly found local partners to successful outcomes.
On average, BCCT interacts with around 42 UK-based companies per month. Last year, it provided more than 500 tailored business services including market research, partner search, market visits, meeting arrangements, PR Support and event management.
The top ten sectors during the last year from which UK clients engaged with BCCT to benefit from its services were engineering, education and training, environmental , renewable and sustainability, chemicals, construction, healthcare and medical ‚legal and financial services, consumer goods, and infrastructure.
During the same period, around a third of BCCT’s UK clients were returning clients who have chosen to continue working with BCCT’s Business Services Team as a result of previous successful and productive interactions.
Are you interested in finding out whether Turkey is a market for you? Do you need answers to questions on how to best reap Turkey’s potential as a foreign market for your goods and services? Maybe you are planning a market visit? Then BCCT is among the first places you should get in touch with.
Source: BCCT Newsletter, 4 April 2016