The Consulate General works in cooperation with Business Sweden- The Swedish trade & invest council and the Embassy to assist Swedish companies to establish themselves, or to expand, in the Turkish market.
A rapidly growing market
Today, Turkey is the world's 17th largest economy, with a young population of 75 million. Turkey's economy has been one of the fastest growing economies in the world during the last few years, with an economic growth of 9.2 % 2010 and 8.5 % 2011. Economic growth is estimated to reach 3 % this year. The Turkish market has become increasingly interesting for Swedish businesses, and it can also constitute a bridge to the markets of the Middle East, South Caucasus and Central Asia. A strong domestic demand resulted in Turkish imports increasing with 30% 2011 from 2010, amounting to 241 billion USD.
Turkey is part of a customs union with the EU since 1996, meaning that industrial products and refined agricultural products are exempt from customs tariffs (agriculture, services and public procurement are however not part of the customs union agreement). Through the customs union, Turkey is a production platform that is well-integrated with the EU. The incentives for foreign investments such as free-zones for production are generous. Companies such as Hyundai, Renault and Toyota as well as Swedish Autoliv have located substantial production plants and assembly plants in Turkey, which primarily cater to the European market. The Turkish textile industry is also an advanced sub-contractor to the global garment industry.
Swedish businesses presence and trade with Turkey
Sweden's trade with Turkey has increased markedly during the last year. The Swedish export to Turkey amounted to 16.5 billion SEK 2011, an increase of 23% since the previous year (1.4% of Sweden's total exports). The main Swedish export goods to Turkey are telecommunications equipment, iron ore, paper and pulp. Since the 1990s, Swedish businesses have been increasingly interested in entering in the Turkish market. Today, 250 Swedish companies are represented in Turkey; Ericsson, TeliaSonera, Autoliv, Securitas, H&M, Sandvik, Lindex and IKEA amongst others. Swedish business interests in Turkey are represented by the Swedish Chamber of Commerce in Istanbul.
During the next few years, Business Sweden will place a special emphasis on promoting Swedish environmental technology in Turkey. For more information on this initiative, please contact Business Sweden. The import from Turkey to Sweden in 2011 amounted to 8.7 billion SEK, an increase of 13 % from the previous year (0.8% of total imports to Sweden). The main import goods from Turkey are various industrial products.