Free Essay

The Republic of Turkey

In:

Submitted By tracyho91
Words 3479
Pages 14
Abstract
The Republic of Turkey is a Eurasian country located in Western Asia and Southeastern Europe. It is bordered by eight countries and five main seas. Istabul is the largest city in Turkey, and Turkey’s capital is Ankara. About 48% of the population lives in the cities or towns. The rest lives in rural areas. Most of people in Turkey are Muslim, which are followers of Islami.
Also, in this paper, the culture of Turkish, the life in Turkey such as health care system, transportation, and education system are also mentioned. The Turkey republican parliamentary democracy and the economy are discussed later in the paper. The last part is business etiquette talking about some important customs that business foreigner should know.

Background
Turkey, also known as the Republic of Turkey, is a land-bridge linking Europe and Asia. The history of Turkey encompasses, first, the history of Anatolia before the coming of the Turks and of the civilizations – Hittite, Thracian, Hellenistic, and Byzantine – of which Turkish nation is the heir by assimilation. Second, it includes the history of Turkish people including Seljuks, who brought Islam and Turkish language into Anatolia. Third, it is the history of the Ottoman Empire, a cosmopolitan – Islamic state that developed a small Turkish amirate in Anatolia. Finally, Turkey was established in 1923, after the fall of Ottoman Empire, under “Father Turk”. It is immediately started on a course of modernization in all walks of life (Turkey, 2011.)
Turkey is a Middle Eastern nation locating in both Eastern Asia and Southeastern Europe. It borders Bulgaria to the Northwest; Greece to the West; Georgia to the Northeast; the Soviet Union and Iran on the East; Iraq and Syria on the Southeast. The Black Sea is to the North; the Aegean Sea to the West; and the Mediterranean Sea to the South. It also contains the Sea of Marmara in the Northwest. Turkey’s area is about 300,948 square miles, including lakes, in which 291,773 square miles are in Southwest Asia and 9174 square miles are in Europe. Turkey is the world’s 37th largest country (Turkey, 2013.)
By 2010, with a population of 73,722,988, which is increasing by 1.3% every year, Turkey is the third-largest country by population in Europe, after Russia and Germany. Turkey is geographically divided into seven regions: Marmara, Aegean, Black Sea, Central Anatolia, Eastern Anatolia, Southeastern Anatolia, and the Mediterranean, and subdivided into 81 provinces for administrative purposes. Each province is then divided into districts, with a total of 923 districts. Turkey has a Mediterranean temperature climate, with hot, dry summer and mild, wet, and cold winter (Turkey, 2011.)
Demographics
The official currency in Turkey is the Turkish Lira. One U.S. dollar is equal to 1.5 Turkish Lira (Mistry, n.d.) Turkey’s capital is Ankara, and the largest city is Istabul. Its official language is Turkish, which is spoken by approximately 85% of the population as mother tongue, 12% of the population speaks Kurdish as mother tongue, another 2% speaks Arabic and Zara, and several other languages spoken by a smaller parts of the population. There are two main ethnic groups, the Turkish and the Kurdish, and a small percentage of Arabs, Christian, and Jews (Turkey, n.d.)
Although Turkey is a secular state with no official religion, 99% of the Turkish population is Muslim, adhering to the Sunni branch of Islam. A small size of minority of the population is Shia Alevi and Sufi sects. The remainder follows Christianity and Judaism and close to 3% of the population is atheist (Turkey, n.d.)
Religion Islam is a monotheistic religion practiced by Muslim. They believe that Allah gave revelations to the Prophet Muhammed through the Angel Gabriel around A.D. 600. Jesus Christ and the prophets of the New Testament are accepted as Islamic precepts. During their rule of the Ottoman Empire, Islamic laws dictated the way of life for the Turks. In 1924 with the new republic government, Islamic Law was abolished as a state religion. The government removed religion from public policy and restricted it exclusively to personal faith (Metz, 1995.) Even though the state has no official religion nor promotes any, it actively monitors the area between the religions. Religious communities are placed under the protection of the state, but the constitution states that they cannot become involving in the political process or establishing faith-based schools. There is not a party can claim that it represents under any religious form. Turkey also forbids female to cover their heads in government buildings, schools, and universities (Turkey, 2011.)
Ethnic tensions will always exist where there is a lack of mutual respect and understanding, a lack of education and a lack of legislation to protect those affected. Tensions between the Turks and the large minority Kurdish population in the country are ongoing. The PKK—a rebel Kurdish group—has been fighting against the Turkish state since 1984 with the aim of greater autonomy for Turkish Kurds. The government, as well as the United States government, regards the PKK as a terrorist organization. In August 2010, the PKK declared a unilateral cease-fire for Ramadan, and in October, the cease-fire was extended at least after 2011 general elections. Nonetheless, the latter half of 2010 saw the death of 37 people by way of suicide bomber and roadside bombs (Metz, 1995.)
The Culture
Traditionally, Turkish women do most of housework. They should not work in public or with unrelated men. Turkish law guarantees to pay equally and open most education programs and occupations for women. However, men tend to dominate in high-status occupations in government, business, military, and etc. Most of public places such as movie theaters, beaches, and restaurants have a section for men and a section for families and single women separately (Turkey, 2013.)
Social status in Turkey is determined by wealth and education. It has wealthy urban educated class, the urban middle class, the urban lower class, the large rural landowner class, and the general rural population. A college education is the minimum qualification to enter into the urban educated class. Most people in the urban upper classes are familiar with European and American lifestyle and culture, and also speak at least one Western language. The urban lower classes are the unskilled labor workers, low-paid workers, and the unemployed (Turkey, 2011.) Turkey’s culture is a mixture of Turkic, Ottoman, and Western traditions. This blend is a result of immigration of Turks with the people who were in their path from Central Asia to the West. The government invested in museums, theaters, and architectures in the early years of republic. Turkish music is crossroads between Middle Eastern, modern European and American popular music, Persian classical music, and Central Asian folk music (Turkey, n.d.) Turkish’s most popular sport is soccer. Many other sports are also played such as basketball, volleyball, handball, and motorsports recently. Turkey’s national sport is wrestling, a tradition from the Ottoman times. Weightlifting has been played by both men and women and broken many world records (Turkey, 2013.)
Life in Turkey
Turkey’s education is free from ages six to 15. Children may attend kindergarten at age of six. Education system in Turkey has mainly three parts: primary school, high school, and higher education. The primary school, also called elementary school, includes eight years of education for children between the ages of seven and 15. There are two types of primary schools: public, which is governmental and free and private. When students reach the last year of primary schools, they have to take OKS exam. Based on their scores, they are placed to different kinds of high schools. These are Public high schools, Anatolian high schools which improve students’ language skills by adding part of science courses in foreign language such as English, German, or French, science high schools focusing on science education, vocational high schools focusing on tourism, industry, and electrical work, Imam-Hatip high schools educating imams, and private high schools which established by private enterprises (Turkey, 2011.)
When students complete tenth grade, they choose tracks that lead them to a certain specializations. These four tracks are Turkish-math, science, social science, and language track. At the end of high school, students are required to pass high school finishing examination in order to take the OSS and continue their studies in universities.
For undergraduate studies, universities provide two years or four years of education. For graduate studies, another two years is necessary. With a total student enrollment of over one million, there are around 820 higher education institutions including universities. The literacy rate is 95.3 percent for men and 79.6 percent for women, for an overall average of 87.4 percent. Turkey is struggling to sustain effective education. Their education system has many problems in connection to the other problems in other institutions such as terror in the east, population increase, and economic trouble (Turkey, 2011.)
The life expectancy of Turkish is 72.70 years while American’s life expectancy is 78.490 years (United States vs. Turkey, n.d.) Turkey health care system is very complex because of the existence of different plans and departments in this sector. The Ministry of Health coordinates all the health care and related social welfare activities in Turkey. There are three different agencies ministered Turkey’s health care system: Social Insurance Institution (SSK) which covers employees, Pension Fund for Civil Servants (Emekli Sandigi) which covers retired government workers, and Social Security Institution for the Self-employed (Bag-Kur). The Ministry of Health is responsible for providing health care for people, build and operate hospitals, supervise private hospitals, train medical personnel, regulate prices of all the medical drugs, and control the drug production and all pharmacies. Comparing to the past, the health care system in Turkey is better today, but still not reaching the expected quality, especially in most of the state hospitals. On the other hand, most of private hospitals are raising their quality of services and physicians, and investing more money in their medical equipment (Sansal, 2011.)
Just like America, the cost of living in Turkey depends on locations and life choices. Rural villages are cheaper than urban centrals. Turkey’s transportation has been constantly improving, yet still remaining extremely cheap. Buses are the main mean of transportation because it is the easiest and cheapest. Every town and city has a central bus station where it can take you to almost everywhere in Turkey. Railways and buses routes connect almost every destination in Turkey. The roads also have been developed so it is possible to drive. It is pretty easy to get around in Turkey (Mistry, n.d.)
Politics
Turkey is a republican parliamentary democracy. An elected president leads the Republic Turkey, which is similar to the U.S, but it is five-year-term. The Executive branch is made up of the President, Prime Minister who represents the majority party or coalition in Parliament. The Cabinet of Turkey consists of the heads of the Council Ministers appointed by the President on the advice of the Prime Minister. The legislature is the Grand National Assembly, which is the Parliament of Turkey. They have the power to make laws, ratify treaties, and declare war. However, unlike the U.S. Congress, they are a unicameral legislature, which means that they just have one house of legislature (Turkey, 2011.) The Grand National Assembly consists of two chambers, the National Assembly and the Senate. The National Assembly includes 450 members, who are elected for 4-year terms by the people. The Senate has 150 members, plus 40 others who are not elected, but appointed as members for life. Parliaments in Turkey’s electoral system are elected according to the proportion of votes that they attract, rather than with the most votes win. The result is that three parties dominate, Motherland Party, the True Party, and the Social Democrat Populist Party. In the administrative divisions, local government is made up of 80 provinces, which are administered by governors representing the central government. The local governments elect their own mayors and councils, pass the laws in some way similar to our Congress (Metz, 1995.) The judicial branch consists of a Constitutional Court, which examines the constitutionality of laws passes by Parliament. The President appoints the judges of the court. For the Court of Appeals, Supreme Council of Judges and Prosecutors elect judges. The final Court of Appeal is also known as the Court of Cassation (Metz, 1995.)
Economy
The economy of Turkey is a complex mixed system. There are traditional village agriculture and crafts, modern industry, and commerce. Agriculture is the backbone of the Turkish economy. It once provided all the major exports. Now, it provides only half of what it is used to. The major agricultural products are cotton, tobacco, fruit, cereals, nuts, and opium. It has a strong growing private sector, but the state still has a major role in industry, banking, transport, and communication (Turkey, 2013.)
Turkey implemented a series of financial and fiscal reforms as a part of an IMF program after enduring a serious financial crisis. Throughout the years of 1998 until 2010, Turkey has seen both its highest growth GDP of 6.69% and also its greatest decline of -7.57% in GDP. The reforms were designed to liberalize the Turkish economy and produced a large increase in the private sector, namely the banking, transportation, and communication industries. These privatizing policies also generated an infrastructure of middle-class entrepreneurs. All of this has compounded for an increase in the industry and service markets, which now make up a substantial part of Turkey’s economy, however, 30% of Turkey’s employment remains in its long-established agricultural sector. In the face of aggressive international competition in the textile market, Turkey has also been able to keep its traditional textile industry alive, as it accounts for 1/3 of Turkish industrial employment. Furthermore, the automotive, construction, and electronics businesses have experienced substantial growth and have become main areas of commerce. Since the reforms and support from the IMF, Turkey saw an average of 6% increase to their GDP every year up until 2008 when the global economic environment tightened. In response Turkey adopted a stricter fiscal policy that reduced inflation to just 6.3%, the lowest it has been since 1977. As international markets stabilized and trade resumed, Turkey bounced back in impressive fashion with a 7.3% growth in real GDP (Turkey, 2011.)
In 1959, the country applied to be an associate member of European Economic Community, and gained the membership in 1963. Turkey reapplied to for a full membership of European Union in 1987. In 999, the European Monetary Union was formed; it is doubtful that Turkey will be soon ready to join that organization. Now, almost a decade later, Turkey is still a candidate for inclusion in the EU. When Turkey will be joining the EU, its potential benefits will include higher growth and investment that will involve a better economic status (Metz, 1995.)
The criteria for joining European Union require that the candidate country has achieved stability of institutions guaranteeing democracy, the rules of law, human rights, and respect for and protection of minorities; has a functioning market economy as well as the capacity to cope with the competition and market forces in the EU; and has the ability to take on and implement effectively the obligations of membership, including adherence to the aims of political, economic and monetary union (Conditions for Membership, 2013.) Let’s look at Turkey now. It is still not a functioning and stable democracy that has rules of law, that is respecting and protecting minorities. Under the democracy and human rights agenda, Turkey is not disturbing actions toward its own Kurdish citizen and their rights in a modern democracy. Also, the geographical position of Turkey is also a concern. It directly borders Iraq and Iran, and has the majority of its territory in Asia more than in Europe. The concern is that admitting Turkey to be a member of EU may also perceiving potential instability and insecurity to other EU members. On the positive side, if Turkey joins the EU, it will have a lot of benefits including breaking of the barriers to trade between the European nations, of both tariff and non-tariff type, and it will be so much easier for Turkey to export their goods. In addition, the country can easily expand their production and get lower cost for their supplies from these European countries. Turkish people are hard workers. They are fishermen, miners, and farmers. The main sources of employment are from shipbuilding, pharmaceuticals, automobiles, and machine parts. Turkey is the largest exporter in textiles and clothing, which almost belong to private sectors. They also lead in manufacturing processed food, refined petroleum, iron, steel, and chemicals. Tourism is very important to their national economy. According to Turkish Statistical Institute, the unemployment rate is 10.1% by December 2012 (n.d). The GDP per capita in Turkey is $14,700 in U.S. dollars. On the other hand, the GDP per capita in the U.S. is $49,00 U.S. dollars (United States vs. Turkey, n.d.) There is a big difference. This means that Turkey has low wage rate. This is also a key advantage for labor. For example, in America, an average employee in a corporate gets paid $12.50 per hour while a average worker gets paid generously $3.50 per hour in Turkey. So, employing 300 workers in Turkey will cost an average of $1050 per day comparing to $3600 per day in the U.S. This rate is significantly different.
Turkish Customs and Business Etiquette Before doing business in Turkey or with Turkish people, it is important ad useful to know some of their customs and manners in business. First, when meeting business partner, you should shake hands firmly, which is similar to America to show your confidence and strengths. Elders in Turkey are always respected by kissing their right hand, then placing your forehead onto the hand. When entering the room, you always should greet the elderly first. In social occasions, you can greet person next to you first, then work your way anti-clockwise around the table.
In business, gift giving is not allowed. If you want to build relationship, Turkish likes dining or sigh-seeing trip over lavish gifts. However, if the gift is given, they will accept it well. It is always better to bring gifts from your own country. Because most of people in Turkey are Muslim, make sure that they drink before giving them alcohol. The only time that you can bring gifts is when you are invited to their homes for dinner.
Just like America, most of business entertaining will take place in restaurants. However, the protocol of Turkish hospitality dictates that the host always pays for the meal. The concept of sharing bills is alien, which is totally different from our country. The best way to thank the host is inviting them to a dinner at a restaurant of your choice. One of the most important things when coming to a business dinner is being on time. When they say 7p.m, it means 7p.m.
For business, men should wear conservative suits or a sport coat and tie. In America, you always wear business suits and tie when doing business. Women should wear suits, dresses and heels, not short skirts or shorts. Foreign women are welcomed in Turkey. Conservative attitudes exist in Turkey in general, but Turkish men are very respectful. It is acceptable for a foreign businesswoman to invite a Turkish businessman to dinner, and it is easy for her to pay (Turkey-Turkey Language, Culture, Customs, and Etiquette, n.d.)

References
Metz, C. H. (1995). Turkey. Retrieved from http://countrystudies.us/turkey/
Sansal, B. (2011). Health Care in Turkey. Retrieved from http://www.allaboutturkey.com/health.htm
Mistry, S. (n.d). Banking, Money and Taxes in Turkey. Retrieved from http://www.expatarrivals.com/turkey/banking-money-and-taxes-in-turkey
Aneki.com Rankings & Records. (2012). United States vs. Turkey. Retrieved from http://www.aneki.com/comparison.php?country_1=United%20States&country_2=Turkey
Conditions for Membership. (2012, September 13). European Commission. Retrieved from http://ec.europa.eu/enlargement/policy/conditions-membership/index_en.htm
Turkey. (2011, October 11). In New World Encyclopedia. Retrieved from http://www.newworldencyclopedia.org/entry/Turkey#Economy
Turkey Statistical Institute. (n.d). Unemployment Rate. Retrieved from http://www.turkstat.gov.tr/Gosterge.do?id=3536&metod=IlgiliGosterge
Turkey-Turkish Language, Culture, Customs and Etiquette. (n.d). Retrieved from http://www.kwintessential.co.uk/resources/global-etiquette/turkey-country-profile.html
Turkey. (n.d). An Educational Initiative of the Middle East Policy Council. Retrieved from http://www.teachmideast.org/geography/turkey
Turkey. (2013, March 27). Retrieved from Wikipedia: http://en.wikipedia.org/wiki/Turkey#Language

Similar Documents

Premium Essay

Main Objective of the Central Bank of the Republic of Turkey

...Main Objective of the Central Bank of The Republic of turkey (CBRT) Price Stability Article 4- (As amended by Law No. 4651 of April 25, 2001) "The primary objective of the Bank shall be to achieve and maintain price stability. The Bank shall determine on its own discretion the monetary policy that it shall implement and the monetary policy instruments that it is going to use in order to achieve and maintain price stability. The Bank shall, provided that it shall not be in confliction with the objective of achieving and maintaining price stability, support the growth and employment policies of the Government.“ Price stability denotes a level of sustainable inflation low enough that economic agents may ignore it in their investment, consumption and saving decisions. The largest contribution that the Central Bank has made and can make to strong, stable and sustainable growth and increased employment is to achieve and maintain price stability. Inflation Targeting Regime In 2002, the Central Bank adopted a modern monetary policy strategy, namely the “inflation targeting regime”. During the implementation of the implicit inflation targeting regime of the 2002–2005 period, the Bank tried to lay the basis for the regime by ensuring the necessary pre-conditions, strengthened its technical and institutional infrastructure, developed estimation models and expanded its data set.  During this process, the Research Department was restructured as the Research and...

Words: 409 - Pages: 2

Free Essay

Central Asia

...For more information about JSTOR, please contact support@jstor.org. . Middle East Institute is collaborating with JSTOR to digitize, preserve and extend access to Middle East Journal. http://www.jstor.org This content downloaded by the authorized user from 192.168.72.230 on Wed, 14 Nov 2012 11:59:35 AM All use subject to JSTOR Terms and Conditions BETWEEN SENTIMENTAND SELF-INTEREST:TURKEY'S POLICY TOWARDAZERBAIJANAND THE CENTRALASIAN STATES Philip Robins HEN the new republics of CentralAsia and Azerbaijanbegan declaring theirindependencefromMoscow nearthe end of 1991,there was greatexcitement in certain Western circles about Turkey'sfuturerole in their development. Their bond was frequently mentioned, and Turkey common Turkic cultural-linguistic was seen as an economic and political model for these new states. Some In enthusiasts even advanced grandiosenotions of resurgentpan-Turkism. order to limit any possible growth of Iranian-inspired political Islam in these new republics, Western political leaders generallyregardedTurkey as the country to supportin its approachestoward these states.1 Two...

Words: 7773 - Pages: 32

Premium Essay

Cultural Presentation Paper: Turkey

...Turkey The Republic of Turkey is a country filled with rich culture and amazing history. This paper will discuss the origins of Turkey and the most significant points in that region’s history. Then, it will focus on two types of games that the inhabitants of Turkey are constantly exposed to, and one type of play. Afterwards, it will take a look at what influences Turkey has made in other nearby cultures and countries. Also the impact and influence the history of Turkey has had in that region. Finally it will end with how visible the influences are, and briefly discuss all of its religious influences. The region that Turkey now occupies has very large roots in history, even though the current establishment of Turkey is very young. Before the region was named the Republic of Turkey, the area was called Anatolia. Anatolia has a history of civilization that dates as far back as 10,000 years. In centuries past, this region had been inhabited by the indigenous Hattis and Hurrians. At around 2300 BC the Indo-European Hitties arrived at Anatolia slowly reigning over the Hatties and Hurrians. The Hitties established the first empire in the region and remained settled for multiple centuries. The empire collapsed in 1200 BC and Anatolia was then settled by an Indo-European group known as the Phrygians and the Lydians. The Phrygians settled in Western and Central Anatolia while the Lydians lived in the Eastern region. In the 6th century BC, bothe the Phrygians and Lydians were invaded...

Words: 1763 - Pages: 8

Premium Essay

Balance Sheet Example

...------------------------------------------------- Accession of Turkey to the European Union | Turkey's application to accede to the European Economic Community, a predecessor of the European Union (EU), was made on 14 April 1987. Turkey has been an associate member since 1963.[2] After the ten founding members, Turkey was one of the first countries to become a member of the Council of Europe in 1949, and was also a founding member of the Organisation for Economic Co-operation and Development (OECD) in 1961[3] and the Organization for Security and Co-operation in Europe (OSCE) in 1973. The country has also been an associate member of theWestern European Union since 1992, and is a part of the "Western Europe" branch of the Western European and Others Group (WEOG) at theUnited Nations. Turkey signed a Customs Union agreement with the EU in 1995 and was officially recognised as a candidate for full membership on 12 December 1999, at the Helsinki summit of the European Council. Negotiations were started on 3 October 2005, and the process, should it be in Turkey's favour, is likely to take at least a decade to complete.[4] The membership bid has become a major controversy of the ongoing enlargement of the European Union.[5] ------------------------------------------------- History After the Ottoman Empire's collapse following World War I, Turkish revolutionaries led by Mustafa Kemal Atatürk emerged victorious in the Turkish War of Independence, establishing the modern Turkish Republic as it exists today. Atatürk...

Words: 7472 - Pages: 30

Free Essay

Turkey Essay

...turkey - The Turkish Republic was established in 1923, after the fall of the Ottoman Empire. The Empire had been slowly declining for several centeries, this can be attributed to its inablity to keep up scientificaly and the socail and political wars. Finally the Lausanne Peacem Treaty of July 24, 1923 established the international status and boundaries of the new country. The Republic of Turkey was formally declared on October 29, 1923. It immediatly started on a course of modernization in all walks of life.... [tags: essays research papers] 929 words (2.7 pages) $19.95 [preview] Turkey - Because of the war women gained the right to vote to vote. In 1946, the multiparty era began. A military junta seized power and governed from 1960 to 1961. In 1961, a new constitution was ratified, and elections began. The 70’s were a time of political violence and economic uncertainty. Because of this, in 1980 a second junta was formed, which instituted martial law and abolished all political parties. The second junta was dissolved because of a new constitution, adopted in 1982. Turkey then became a republican parliamentary democracy.... [tags: essays research papers fc] :: 3 Sources Cited 1986 words (5.7 pages) FREE Essays [view] Benefits Of Franchising System In Turkey - Benefits Of Franchising System In Turkey Franchising system has lots of adventages for economic growth of Turkey such as it creates job opportunity , competition improves the domestic campanies and global campanies...

Words: 701 - Pages: 3

Free Essay

Maris

...Balkan MUN ICJ 2014 Position paper Topic A: Aegean Sea continental shelf, Greece Vs Turkey, 10th August 1976. The Aegean Sea continental shelf dispute continues for almost 40 years, and Greece and Turkey never came to a solution, neither did the UN or ICJ. Both parts pretend different things about the continental shelf. For Greece the International laws give to the islands (which belong to Greece) the right to extend their jurisdiction, and that every island has his own jurisdiction and continental shelf, thus the definition must be made with a median line. For Turkey the islands do not have the right to extend their jurisdiction on the continental shelf because they are in the Turkish continental shelf, so for Turkey must not be applied the median line definition. So, considering that the UN’s main goal is to maintain peace and stability between all the countries of the world and the ICJ’s main goal is to respect the International Laws and to find a peaceful solution to solve disputes, I judge that the solutions may be to restrict Greek territorial waters of some naval miles (n miles) in the continental shelf, near the islands, and to let all the other territories as they are. This is one of the most comprehensive solutions because Greece has the largest part of the Aegean Sea and any restriction other than this would be in big disfavor for Turkey. This solution does not favor Turkey either Greece, but is a middle solution, which makes both part content. With this solution...

Words: 877 - Pages: 4

Premium Essay

Finance

...BULLETIN CENTRAL BANK OF THE REPUBLIC OF TURKEY Issue: 8 December 2007 GOVERNOR YILMAZ’S PRESENTATION BEFORE THE COUNCIL OF MINISTERS INSIDE: 2 Reserve and Risk Management at the Central Bank of Turkey 3 Publications and News from the Central Bank of Turkey 4 At a Glance In accordance with the Law on the Central Bank of Turkey (CBT) and the principle of accountability, twice a year, the Governor provides the Council of Ministers with information on current economic outlook and the monetary policy actions. In this context, Governor Durmuş Yılmaz made a presentation before the Council of Ministers on 12 November 2007. In the first part of his presentation, Governor Yılmaz pointed out the prerequisites to achieve sustainable growth rate and single-digit nominal interest rates. The Governor gave information about inflation developments, interest rate and the exchange rate policies of the CBT, growth, employment and balance of payments developments in the second part of his presentation. The Governor stated that sustainable growth might only be achieved via establishing macroeconomic stability, continuing structural reforms and enforcing the principles of good governance. 1981 - 1989 1990 - 2001 2002 - 2006 Average Inflation 43.4 % 74.0 % 15.9 % Average Growth 4.8 % 3.0 % 7.5 % The Governor, underlining the necessity of price stability and sustainable public finance for Source : TURKSTAT, CBT macroeconomic...

Words: 2068 - Pages: 9

Free Essay

Essay on Turkey

...Turkey (Turkish: Türkiye), known officially as the Republic of Turkey ( Türkiye Cumhuriyeti (help·info)), is a Eurasian country located in Western Asia (mostly in the Anatolian peninsula) and in East Thrace in Southeastern Europe. Turkey is bordered by eight countries: Bulgaria to the northwest; Greece to the west; Georgia to the northeast; Armenia, Azerbaijan (the exclave of Nakhchivan) and Iran to the east; and Iraq and Syria to the southeast. The Mediterranean Sea and Cyprus are to the south; the Aegean Sea is to the west; and the Black Sea is to the north. The Sea of Marmara, the Bosphorus and the Dardanelles (which together form the Turkish Straits) demarcate the boundary between East Thrace and Anatolia; they also separate Europe and Asia.[8] Turkey is one of the six independent Turkic states. The vast majority of the population are Muslims.[9] The country's official language is Turkish, whereas Kurdish and Zazaki languages are spoken by Kurds and Zazas, who constitute 18% of the population.[10] Oghuz Turks began migrating into the area now called Turkey (derived from the Medieval Latin Turchia, i.e. "Land of the Turks") in the 11th century. The process was greatly accelerated by the Seljuk victory over the Byzantines at the Battle of Manzikert.[11] Several small beyliks and the Seljuk Sultanate of Rûm ruled Anatolia until the Mongol invasion. Starting from the 13th century, the Ottoman beylik united Anatolia and created an empire encompassing much of Southeastern...

Words: 942 - Pages: 4

Free Essay

Turkey's Admission in the Eu

...In December 1997, members of the European Union (EU) met in Luxembourg, for a European Council summit, to talk about countries being considered for future EU membership. Among these countries, there was one remarkable absence: Turkey. Since it was excluded from this enlargement process for the foreseeable future, relations between the EU and Turkey have been very cold. Turkish Prime Minister, Mesut Yilmaz, has given the EU until the next European Council meeting in June to include Turkey in the pre-accession group of applicant countries. Otherwise, it has threatened to withdraw Turkey's application for membership. Even if such threats are unlikely to have an impact on the EU, they point out a major clash in the EU-Turkey relations. At this stage of my research, my point is not to argue whether Turkey should enter the EU or not. My research project is meant to find out whether it has the ability to meet European requirements, on a political and economic basis. However, I want to make sure that you understand the importance of this research. Turkey has been waiting since 1963 to enter the European Union. Today, the country is split between a strong religious party (the RP) and a majority of secular western-oriented people. Continuing to refuse Turkey might throw it in the hands of the islamists who are totally...

Words: 2636 - Pages: 11

Free Essay

Admitting Turkey Into the European Union

...for admittance into the EEC in 1959, Turkey has been fighting to accede into Europe. The country has been an associated member of the European Community since 1964, following the signing of the Ankara Agreement in 1963. They have been trying to become full members since and officially applied for admittance on April 14, 1987. Because the EC was in the midst of forming a politically and economically tight European Union, the EU did not consider Turkey’s application until 1993. They were not a candidate country until 1999. The EU had outlined 35 chapters for the country to comply with before their admittance is decided on a vote. Europe and Turkey extensively trade between each other. Turkey and the EU already have free trade between each other. Turkey’s exports and imports are mostly with Europe. In 2007, 56.4% of Turkish exports were to the EU, and 40.8% of their imports were from the EU. (Euro Comm)Once admitted as a full member of the European Union, the trade market will only grow. As a member of the European Union, Turkey’s economy will continue to grow. As of now, Turkey is able to export and import goods to and from Europe, but does not export many services. As of 2006, 63.5% of Turkey’s GDP came from services rather than agriculture and industry. (Euro Comm) When the EU admits turkey as a member, Turks will be able to freely cross the borders and provide service across Europe. With the influx of service workers into Europe, turkey and the Europeans will benefit. European...

Words: 2162 - Pages: 9

Free Essay

Armenian Diaspora

...ARMENIAN DIASPORA The Armenian Diaspora is the Armenian communities who live in the outside of Republic of Armenia and de-facto independent Nagorno-Karabach Republic. Those people who live in abroad of their origin land mostly immigrated from Eastern part of Turkey after Ottoman Parliament passed the temporary ‘Tehcir Law’. This law authorized Ottoman Empire to the deportation of Armenian population located in the east part of Anatolia. The resettlement campaign resulted in the deaths of nearly 600.000- 1.500.000 civilians. According to Ottoman archives, the deportation started at March 2, 1915. On September 13, 1915; Ottoman Parliament also passed the law to capture all lands, homes, livestocks owned by Armenians to local authorities. While some historians claim that this was the first genocide of the 20th century, others claim that Ottoman Empire deported the Armenians for their safety, when the empire was so close to collapse. There consequent situtations led many Armenian people to immigrate to the different parts of world. The biggest Armenian population except Republic of Armenia is located in Russia as around 2,2 million. After Russia, United States is the second most populated Armenian diaspora, estimated around 1,4 million. Turkey, France and Georgia are also other countries that host many Armenian people. Moreover, Armenians spread whole over the world but in the case of diasporas; Russia, USA, France and Turkey’s Armenian diasporas are well known and very active...

Words: 978 - Pages: 4

Free Essay

Azerbaijan Essay

...Azerbaijan, officially the Republic of Azerbaijan is the largest country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to the south. The exclave of Nakhchivan is bounded by Armenia to the north and east, Iran to the south and west, while having a short borderline with Turkey to the northwest. Azerbaijan has an ancient and historic cultural heritage. The country was among the birthplaces of mankind and is located at the heart of ancient civilizations. Furthermore the country is known to be among the most progressive and secular Islamic societies. Aside from having been the first Muslim country to have operas, theater plays, and a democratic republic, Azerbaijan today is among the Muslim countries where support for secularism and tolerance is the highest. The Azerbaijan Democratic Republic, the first democratic and secular republic in the Muslim world, was established in 1918, but was incorporated into the Soviet Union in 1920. Azerbaijan regained independence in 1991. The Constitution of Azerbaijan does not declare an official religion but the majority of people adhere to the Shia branch of Islam, although Muslim identity tends to be based more on culture and ethnicity rather than religion and Azerbaijan remains as one of the most liberal majority-Muslim nations. The pre-Turkic Azerbaijani population spoke...

Words: 1556 - Pages: 7

Free Essay

Global Business Cultural Analysis: Turkey

...Running head: GLOBAL BUSINESS CULTURAL ANALYSIS: TURKEY Abstract A global business cultural analysis is a tool used in order for one to become more familiar with a culture, more attune to the implications that the culture has on the business conducted by the people group of the culture, and more aware of the attitudinal and behavioral implications a member of a different culture should expect when working with members of the people group. In exploring the varying cultural elements, one examines the role and perception of women, the role and influence of religion, and the role and perspective of time. The cultural elements have an impact on business that should be considered by a U.S. American seeking to conduct business with members of this people group. Global Business Cultural Analysis: Turkey Primary sources serve to provide a foundation for definitions when pursuing a research project. They are also beneficial for defining terms and establishing reasons behind why one might pursue a particular research topic. When beginning a global business cultural analysis, it is important to understand what is meant by the term culture. Hofstede defines culture as “the collective programming of the mind that distinguishes the members of one group or category of people from another” (Hofstede, 2001, p. 9). The people group focus for this study is the members of the Republic of Turkey. Though the culture in Turkey differs from that of other people groups around the world, this...

Words: 5536 - Pages: 23

Premium Essay

Eu Expansion: Accession of Turkey and Its Potential Impact on the Atmosphere Within the Eu

...Course: Academic writing Semester: Fall 2014 Academic Paper EU EXPANSION: Accession of Turkey and its potential impact on the atmosphere within the EU Rauf Asadullayev Instructor: Christopher Weilage Munich, Germany, 2014 Table of contents 1.Introduction………………………………………….…………………………3 2. The Association agreement…………………………………………….……..4 3. The Ankara Agreement………………….…………………………………...6 4. Customs Union………………………………………………………………..7 5. Turkish government and the accession of Cyprus in the EU………………8 5.1 Turkey’s short term economic effect on the EU…………………………..9 5.2 Turkey’s territorial advantages for the EU……………………………….10 5.3 Religion and culture in Turkey…………………………………………….11 5.4 Food in Turkey and its safety- Security and the EU……...………………12 6. Impact of EU’s democratic standards to Turkey…………………………..13 7. Conclusion…………………………………………………………………….16 Index of Abbreviations BTC- Baku Tbilisi Ceyhan EEC- European Economic Community EU-European Union EC- European Council EP- European Parliament FAO- Food and agriculture organization SEES-Southeastern European states Introduction Europe - the cradle of human civilization, boiling pot full of many various nationalities, cultures and languages. Geographical borders within and outside of the Europe have changed every time when a new Empires began to flourish. Even now, in the 21st century borders of EU are not defined clearly. Should the Borders be...

Words: 6757 - Pages: 28

Premium Essay

Ottoman Empire

... Mustafa Kemal (later called “Atatürk," father of the Turks) proclaimed the Republic of Turkey as a pure nation-state for the Turks by abolishing the multiethnic Ottoman Empire. Mustafa Kemal Atatürk, the founder and first president of the Turkish Republic, Turkish army officer, reformist, was born on19th May 1881 and died in 10 November 1938 at the age of 57 year. He was a and the first President of Turkey. Mustafa Kemal Atatürk introduced a form of secular fundamentalism; bend Turkey from its Islamic roots. Kemalism has since replaced Islam as Turkey's state religion, enforced by its high priests, the generals of the military. Mustafa Kemal Atatürk was a military officer during World War I, and faces defeat of the Ottoman Empire in World War I, after that he found and led his movement. His military campaigns led to victory in the Turkish War of Independence. Mustafa Kemal Atatürk then embarked upon a program of political, economic, and cultural reforms, seeking to transform the former Ottoman Empire into a modern and secular-state under his leadership, thousands of new schools were built, primary education was made free and compulsory, and women were given equal civil and political rights, while the burden of taxation on peasants was reduced. His government also carried out an extensive policy of Turkification, the principles of Mustafa Kemal Atatürk reforms, upon which modern Turkey was established, is referred to as Kemalism. The ideas and principles of Mustafa...

Words: 1902 - Pages: 8