Zaman - The e-retailing business is taking a strong hold among Turkey’s 35 million internet users, as the country emerges as the second fastest grower in terms of the volume of online transactions. The country’s e-commerce volume reached TRY 17.5 billion (approx. USD 9.7 billion) in the first 7 months of 2012, rising 40 percent over the same period of 2011, according to Turkey’s Minister of Customs and Trade, Hayati Yazici.
Yazici, speaking at the opening ceremony of a marketing summit in Istanbul, said Turkey seconded India in e-commerce growth, making an ideal candidate for foreign investors looking for an expanding market to set foot in. “Last year’s e-commerce volume reached TRY 23 billion (approx. USD 12.7 billion), making up 8 percent of the total credit and debit card transactions that took place,” said the minister.
Turkey’s e-commerce sector attracted USD 750 million of foreign investment in the last two years with principal names such as Amazon, eBay and Naspers investing in Turkish internet start-ups.