Over the past decade, Turkey’s economy has boomed. Since 2002, its GDP has nearly tripled to 820 billion (up from 230 billion in 2002). Over those 12 years the average annual GDP rate has maintained a steady pace of 5.1% making Turkey the 16th largest economy in the world. The country is also expected to have the fastest growing economy among OECD members in the near future. All that is to say that now is a perfect time to invest in the Turkish economy.
Many people may think that since it is close to a relatively unsafe part of the world, investing is not a wise strategy. Experts beg to differ. Russ Koesterich, global chief investment strategist for BlackRock’s iShares ETF business, claims “Turkey is a stable environment in an unstable part of the world.” Serkan Gur, executive director at Crossbridge Capital embellishes on Koesterich’s point; “The risk-reward ratio of investing in Turkey at the moment is possibly one of the highest in the world.” There is no doubt that Turkey has been able to successfully stand out amongst the majority of the EU and has posted impressive returns in Russel global index in each of the past few terms.
With that being said, there are many ways to begin investing in Turkey. Perhaps the easiest way for investors to begin capitalizing on Turkey’s economic opportunity is through the use of exchange-traded funds, or ETFs. ETFs can be purchased on the U.S. stock exchanges, and provide instant diversification due to the large and diverse number of holdings.
Another option is the Turkish Investment Fund Inc. This is a closed-ended mutual fund focusing its investments on various industries including automobiles and household items.
Hiring a Turkish lawyer for your law affairs would be a wise decision. Not only do we know the trading laws in and out, but they also have experience and can give sound advice regarding your investment plans. If you are looking for a Turkish lawyer, look no further than Acacia International. We are a team of timely, practical, and accurate lawyers, focusing on many corporate and investment matters specifically tailored to those interested in investing in Turkey.