Frost & Sullivan: Turkey, key in global growth in 2012

Zaman - Turkey will be playing a key role in global growth plans in the new year, according to research and consultancy company Frost & Sullivan’s Turkey Director Philipp Reuter. Turkish companies are expected to form highly advantageous partnership deals, said Reuter in a report forecasting Turkey’s economic performance in 2012.

“Turkey has been successful in variety of sectors including, automotive, defense and renewable energy despite the financial volatility throughout 2011, Reuter’s written analysis read. The automotive industry had important sector-specific foundations laid in 2011 and demand is likely to be high for suppliers in 2012. The country’s renewable energy sector reached a critical milestone in 2011, and could be an important factor in driving 2012’s growth, while Turkey’s defense-related programs have also been getting increased attention from foreign investors. The re-emergence of the country’s textile industry has helped the retail sector’s consistent growth, the report cited.

These developments may lead to Turkish professionals working abroad to head back home, and take up high level positions in local companies, in effect meaning the wage structure and purchasing power in Turkey reaching that of the developed countries. The skill and experience brought in by the repatriated professionals would contribute to strategic urbanization projects, said the report.
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