Customs Union with the European Union
Since 1996, we have been part of a Customs Union with the European Union (EU), enabling the free movement of goods between us and EU Member States. This Agreement provides Indian companies investing with us direct access to one of the world’s largest and most affluent markets without facing customs duties or quantitative restrictions, thereby reducing the cost of exporting goods to Europe and enhancing the competitiveness of products manufactured in the country.
Trade Agreements and Market Access
We have established free trade agreements (FTAs) with numerous countries, including many in Europe, further facilitating market access for Indian companies. These Agreements enhance its position as a gateway to multiple markets, providing Indian investors with broader opportunities to expand their reach beyond the Turkish market.
Regulatory Alignment with the EU
Our regulatory framework, particularly in sectors like manufacturing, automotive, and pharmaceuticals, adheres to EU standards and regulations. This alignment ensures that the products manufactured in our country meet high-quality standards, making them more attractive to European consumers. For Indian companies, this means that investments in Türkiye can easily comply with stringent European requirements, simplifying the process of entering and succeeding in the European market.
Strategic Partnerships and Joint Ventures
Our robust economic and trade relations with Europe have led to numerous strategic partnerships and joint ventures between Turkish and European companies. Indian firms can leverage these existing networks and collaborations to gain insights, share technologies, and enter the European market more effectively. These partnerships can provide valuable market intelligence and help navigate the complexities of the European business environment.
Investment Incentives and Support
We offer various incentives to attract foreign investment, including those from Indian companies. These incentives are often designed to enhance our role as a bridge to Europe, including tax breaks, subsidies, and support for research and development projects. Additionally, our Office provides comprehensive assistance to foreign investors, aiding them in navigating the regulatory environment and maximising the benefits of their investments.
Conclusion
Our special relations with Europe significantly enhance its appeal as an investment destination for Indian companies. The Customs Union with the EU, trade agreements, regulatory alignment, logistical advantages, strategic partnerships, and government incentives all contribute to creating a favorable investment environment. By leveraging these advantages, Indian companies can establish a strong presence in our country and use it as a strategic base to access and succeed in the European market. This synergy of our unique position and the opportunities we offer to Indian investors creates a mutually beneficial relationship.
