Expect more boats from Turkey

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Out of one million SMEs in Turkey, only four percent export says the Turkish Prime Ministry for Foreign Trade. In its "Promotion communiqué" the Ministry announced a plan broadening its portfolio of state aid and subsidy programs to include incentives for SMEs to participate in international fairs. The Turkish Daily News explains that:

The additional support will include help with transporting materials used during international fairs, more support to the yacht and boat construction sectors in international fairs and covering the hotel and round trip ticket costs of 2 representatives from companies to the country where the fair is located.

Turkey could also try more reforms to its business laws and regulations to make doing business easier. In our Doing Business rankings Turkey ranked a low 148 in the world on time and cost of issuing licenses and 146 on ease of employing workers. Our SME database also suggests there are not many SMEs – in the formal sector, at least.

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