In: Business and Management

Turkey, known officially as the Republic of Turkey, is a Eurasian country and it is located between Western Asia and Southern Europe. Turkey is surrounded by four seas; Mediterranean Sea in the south, Black Sea in the north, Aegean Sea in the west, and Marmara Sea in the north-west. The Bosporus and Dardanelles divide the boundary between East Thrace and Anatolia; they also separate Europe and Asia. Neighbors of Turkey are Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq, and Syria. According to CIA data (2012), population of Turkey is almost 80 million, 17th highest population of the world. The capital of Turkey is Ankara, and the population of the capital city is 3.8 million. Therefore, the largest city of Turkey is Istanbul, located at between Europe and Asia, with 10.3 million people.
According to Bureau of European and Eurasian Affairs, Turkey’s long-term economic prospects are bright. Economy of Turkey grew an average of 6.0% in 2002-2007, and that average is one of the highest sustained growths in the world. On the other hand, Turkey grew only 1.1% in 2008, and -4.7% in 2009 because of the global economic circumstances. However, strong baking system, stable growth, privatizations, and telecommunications sectors helped Turkish economy to raise foreign investment. Turkish economy grew 9% in 2010, and 7.5% in 2011. Turkey and European Union signed an agreement for free movements of goods in 1996, and in October 2005, European Union opened accession negotiations with Turkey. However, negotiations are not going well, so far, because there are 33 acquis, which is total body of EU law, and Turkey needs to implement. 13 of them have been opened, but 18 chapters of them are blocked, because of the Greek and Turkish Cypriot on Cyprus Island (Background Not: Turkey, 2012).
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