The Economic Relationship Between Turkey and Spain

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INTERNATIONAL ECONOMICS
The Economic relationship between Turkey and Spain

Ana Borrero Istanbul University Faculty of Political Sciences Fall 2010/2011

INDEX

Introduction Introduction to the Turkish Economy The Turkish Economy Introduction to the Spanish Economy

The Spanish Economy

From Growth to Crisis Coments about the Spanish Economy Introduction to the Relations between Turkey and Spain

The Economic Relationship between Turkey and Spain
BBVA in Turkey

Turkey and European Union Bibliography

Introduction
This essay pretend to analyze the economic relationship between Turkey and Spain. Beginning with a brief introduction to the each economies of individual countries independently. Then I tried to summarize some recent information about specific economic situations both Spanish and Turkish. The Turkish economy is characterized as largely developed. The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances. Besides, on the Turkish economy have tried to summarize some points I found important about their economy. The Spanish economy is currently characterized by growth over the economic crisis. The Spanish crisis and its possible recovery can not be studied independently of the basic features of the phase of economic growth and the crisis, nor of the relations of the Spanish economy with the global economy. So, I also give a brief information about this crisis. Trying to delve into the issue of economic relations between Turkey and Spain, I have collected some examples of cases in Turkey. Which both cases are important for the turkish and spanish economy. After talking about the relations between Turkey and Spain, I have collected some information about the relationship between Turkey and the European Union.

Introduction to the Turkish Economy
The economy of Turkey is largely developed. The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances. In recent years, Turkey had a rapidly growing private sector, yet the state still plays a major role in industry, banking, transport, and communications. Turkey is still considered a developing country. However, with almost half or its population under 20 years or age, it offers a huge potential in human resources. In recent years, Turkey bas achieved significant growth and momentum in industrial production, basic infrastructure, foreign trade, banking and capital markets, foreign investment and the services sector. Turkey is one of the few countries in the world to be largely self-sufficient in food production. Its agricultural sector is huge, producing wheat, barley, corn, cotton, tea, tobacco, hazenuts, citrus fruits, figs, grapes and many other fruits, in addition to sunflower seeds, soybeans, sugar beets and a whole range of vegetables. In the industrial sector, the automotive, textile, construction, appliances, furniture, chemical and pharmaceutical industries have all achieved remarkable growth over the last two decades. Places which were once little more than small provincial towns, such as Gazi Antep, Denizli, Uşak, Kahraman Maraş, Corum, Kayseri, Konya and Kastamonu are last becoming major business centers. The service sector, encompassing tourism, telecommunications, transport, advertising, insurance and electronic media has expanded rapidly. Foreign trade has reached $63 billion, with foreign direct investment standing at $2.5 billion. The EU and Turkey are linked by a Customs Union agreement, which came into force on 1 January 1996. Turkey signed the additional protocol extending her customs union with the EU to cover 10 new member states on 29 July 2005. And 3 October 2005 was the milestone in the relationship between the European Union and...
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