D-8 Congratulates Turkey’s 84th Republic Day

Istanbul, Turkey | October 30, 2007 by D-8 Secretariat

The 84th anniversary of the republic is being celebrated today with ceremonies throughout Turkey, as well as at all Turkish overseas facilities. Turkey has been recorded as one of the member states within D-8 organisation that has been performing exceptionally well in economic growth and industrialisation.

The Turkish Republic, in her 84 years of age has came among the world’s 20 biggest economy, with the GNP increase recorded to increase 145-fold since its establishment.

With the demography that has increased from around 12 million in 1923 to around 73 million in 2007 statistic projection, the recent GNP has been immensely growing as well. Eventhough the country still have to work on a set of economic challenges and facing a number of economic crisis during the last decade, Turkey has maintain a remarkable growth rate, that can be seen in its simplest way from the growth of per capita income from just 45 dollar in 1923, to 6,625 dollar in this 2007 financial year projection.

In the year of establishment in 1923, the Turkish Republic recorded export of 51 million dollar and import of 87 million dollar. After a long period of closed-door economic policy, Turkey made a momentous breakthough by introducing an open-door policy by adopting export-growth economic model in January 24th, 1980.

In 2007 Turkey has become the world’s 17th largest economy and exceeded $100 billion in exports despite all obstacles, as said by the Turkish Union of Chambers and Commodity Exchanges (TOBB) President, Rifat Hisarciklioglu during a speech at a Konya Chamber of Commerce meeting on Saturday.

He noted Turkey has the highest tax on base wages in the world as well as high interest rates that curb investment. He said Turkey will definitely be in the top 10 list of largest economies in the world when those conditions equalize with those of competitors. He said making Turkey one of the largest economies is an ideal for them that they have great faith in, adding that he believed this faith is also in the heart of every Turkish entrepreneur.

D-8 Secretary General, Dr. Dipo Alam, on behalf on D-8 Organisation is extending the highest congratulations on this special occasion, and believes that Turkey will flourish as its cooperation within the framework of D-8 Organization developed to higher ground with the supports of all other member states.

Below is some interesting key facts from Turkey:

• Approx. 400,000 university graduates per year.
• Young, well educated and motivated professionals.
• Highly competitive investment conditions.
• Exports increased 240% in 4 years, up to 85 billion USD as of 2006.
• Access to the EU, Central Asia and the Middle East.
• GDP increase of 122% in the past 4 years, reachiung 400 billion USD.
• Ranked as the 17th largest economy in the world and the 6th largest economy in the EU.
• Ranked as the 13th most attratctive country in the world for FDI.
• FDI worth 20.2 billion in 2006
• Annual Average GDP growth of 7.4% per year since 2002

Photo source: Dunya Online Newspaper.

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