What is ICOC?
Why is Turkey a good place to do business?
Where does Turkey stand in the scheme of world economics?
How do I open a business in Turkey?
What industries in Turkey are most open to foreign direct investment?
Where can I find information about Turkey?s foreign trade practices?
Where can I find information about exporting to Turkey?
Are there any incentives for investing in Turkey?
How do I open a business in the U.S.?
Where can I find information about exporting to the U.S.?
Where can I find information about U.S. foreign trade practices?
What is the foreign direct investment climate like in the U.S.?
What industries in the U.S. are most affected by foreign direct investment?

What is ICOC?
In Turkey, it is a statutory obligation for the private entities to be a member of a chamber relevant to their activity and region, which makes the chambers powerful semi-public entities. Istanbul Chamber of Commerce (ICOC) is one of Turkey?s largest nongovernmental organizations aiming to promote foreign and domestic economic development within the city of Istanbul, as well as support the Turkish economy as a whole. Click here for more information about ICOC and its role in international commerce.

Why is Turkey a good place to do business?
Turkey?s unique location provides a specific advantage for investors, as it serves as the crossroads that bind the markets between Europe, Middle East, Central Asia and North Africa ? and their 1.2 billion customers. The majority of the country is young and economically active with a huge potential as an extensive labor force. Widespread economic reforms implemented since 2001 have led to increased privatization and foreign direct investment, which in turn has significantly bolstered the economy.

Where does Turkey stand in the scheme of world economics?
Turkey is the 17th largest economy of the world and is recognized as one of the 10 emerging markets of the forthcoming decade by the U.S. Department of Commerce. The nation was recently named a member of the G20 countries, which is a new international formation gathering the world-famous G7 and 13 potential additional countries together. Turkey has integrated with the world economy with nearly $225 billion USD of external trade.

How do I open a business in Turkey?
Within the framework of the current Turkish Trade law, there are three main types of business entities that can be formed: Merchant, Commercial Partnership and Cooperative. Click here to learn more about these types of business. You can also download the Undersecretariat of Treasury?s The Basics of Establishing a Company in Turkey document

What industries in Turkey are most open to foreign direct investment?
Nearly all industries in Turkey that are open to domestic investment are open to foreign direct investment without screening or prior approval. Some areas, such as the financial and petroleum sectors, do require government approval. Others, such as media and maritime transportation, are only allowed a certain percentage of foreign ownership.

Leading sectors that have flourished as a result of increased foreign direct investment include: banking; trade and retail chain stores; telecommunications; tourism; automotive and transportation equipment manufacturing; food, beverage and tobacco; chemical and petroleum products; electrical machinery and electronics. Visit our Investment Opportunities and Incentives page for more information. You can also find detailed industry sector reports here.

Where can I find information about Turkey?s foreign trade practices?
As a member of the World Trade Organization (WTO), Turkey has signed several free trade agreements, including those with the European Free Trade Association (EFTA), Israel and many other countries. Visit our Foreign Trade Policies page for more information.

Where can I find information about exporting to Turkey?
Generally, Turkey?s documentation procedures for imports and exports mirror those of the European Union. For detailed information visit the U.S. Government?s Export Portal and the Embassy of Republic of Turkey Web site. You can also visit our Doing Business in Turkey section.

Are there any incentives for investing in Turkey?
There are many incentives of which businesses can take advantage as a result of investing in Turkey. These include exemptions from customs duties and fund levies; Value Added Tax exemptions for machinery and equipment purchases; credit allocation from the budget; interest support for small- and medium- enterprises, R&D and environmental projects and projects in 50 prioritized development provinces; free land, income tax relief, employer?s share for Social Security relief and energy support in some regions. Visit our Investment Opportunities and Incentives page for more information.

How do I open a business in the U.S.?
Establishing a company in the U.S. is a complex process, as laws and regulations vary from state to state. It?s best to check with the state in which you are interested in creating a business for specific processes and requirements. URLs for state Web sites follow this format: http://www.state.XX.us. The example for New Jersey would be http://www.state.nj.us.

Where can I find information about exporting to the U.S.?
The U.S. Bureau of Customs and Border Protection (CBP) (formerly the U.S. Customs Service) oversees and regulates the movement of carriers, people and commodities between the U.S. and other nations worldwide. CBP?s Importing into the United States: A Guide for Commercial Importers provides detailed information and resources that may be useful to companies looking to export goods to the U.S.

Where can I find information about U.S. foreign trade practices?
Historically, U.S. foreign trade policies have promoted free trade and embraced an open system that encourages fair and nondiscriminatory trade practices. The Office of the United States Trade Representative is responsible for developing and recommending national trade policy.

What is the foreign direct investment climate like in the U.S.?
Though its share of global foreign direct investment (FDI) has steadily dropped since 1999, the United States still receives more than any other nation in the world. By the end of 2007, foreign-owned assets in the U.S. totaled $20,081.8 billion USD and employ more than 5 million Americans. The U.S. has had relatively open policies that encourage FDI. Visit our Foreign Direct Investment page for more information.

What industries in the U.S. are most affected by foreign direct investment?
By far, the most abundant sectorsaffected by FDI in the U.S. fall into the manufacturing category. A detailed analysis is available on the Bureau of Economic Analysis Web site. You can also find detailed industry sector reports here.