‘Resilience' is key to receive foreign direct investments from UK, EU, says chairman of British Chambers of Commerce in Türkiye
Türkiye is seen as a “priority," long-term market by international and UK-based investors as the Turkish economy continues its resilient course, the chairman of the British Chambers of Commerce in Türkiye told Anadolu.
Chris Gaunt, while attending a seminar titled “Türkiye - a Regional Growth Platform” in London on Monday, stated that the focus of the event was to assess the mutual investment opportunities between Türkiye and the UK.
“I think everybody recognizes that the potential of Türkiye, both historically and going forward, is still there—I mean, the fundamentals don't change, demographics are strong, (and) the resilience ... the business sector has. The way that the central bank has navigated through various issues in the past and recovered,” he said.
Gaunt noted that the business community often deems the Turkish economy as “resilient,” pointing at “the entrepreneurship that is part of the Turkish business character.”
He mentioned that the Turkish business world is “less risk averse” in entering new markets and creating opportunities.
“These are all strengths for Türkiye, which are part of the strong fundamentals, and they will continue—we get through these headwinds and come out of it stronger than we went into it,” he said. “We recognize (that) Türkiye is not a short-term investment strategy; it's a long-term investment strategy.”
“We're not looking at two to three years; we're looking at 10 to 15 years, and given the strength of the Turkish economy and its growth over the last 20 years, there's still a lot of confidence there,” he added.
Gaunt stated that the global business world deems Türkiye as “a strategic country, being the bridge between Europe and the Near East.”
He highlighted that geopolitical developments in the region could impact Türkiye positively and negatively.
“One of the main points we heard from the panelists today is what governs the growth of the Turkish economy and keeps the resilience of investment, (which) is Turkish investors in Türkiye,” he said. “And as long as that stays strong and there's no sign that it's faltering, then that will continue.”
He mentioned that many economies, including European countries, suffered from periods of instability, “but once all that resets itself, Türkiye is still in a good place to benefit from investment—foreign direct investment from both the EU and the UK.”
Gaunt emphasized that UK-based finance, tech, and other sector firms look at Türkiye as a long-term investment and recognize the country's high growth potential. "Resilience is the key word. These headwinds, they come and they go—as I said, we come out of them better than we went into them,” he added.
- New free trade agreement to expand Türkiye-UK relations
Gaunt stated that a new free trade agreement (FTA) between Türkiye and the UK, which is being negotiated, will expand the two countries' bilateral trade to new sectors, especially in agriculture, education, health, and technology. These new sectors will open up new opportunities with British investors and send a strong message to other investors who consider Türkiye as an investment destination.
He noted that Türkiye's defense industry is at an advantage now, thanks to its growth and the EU and the UK's plans to increase defense spending.
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