Table of Contents -- List of Contributors ix -- Foreword xv -- Map: Turkey and its Neighbours xvi -- Map: Turkey's Infrastructure xvii $x Chapter 1 -- The First Glance 1 -- Erdoğan Alkin, Chairman of Türkiye Ekonomi Bankasi Research -- Place and People 1 -- Politics 1 -- The Economy 4 -- Chapter 2 -- Business Development for Foreign Companies 21 $x The Importance of Quality 21 -- The Need for an Agent 23 -- How Goods Reach the Consumer 23 -- Mehmet Öktemgil, Birmingham Business School $x Franchising 26 -- David Tonge, IBS Research and Consulting -- Case Studies 28 -- Paul Cheesewright -- Chapter 3 -- Investment Issues 33 -- The Incentive System 33 -- Special Schemes, Special Projects 36 -- Isa Coşkun, General Directorate of Foreign Investment -- Free Trade Zones 41 -- G. Hülya Yilmaz, Deloitte & Touche, Istanbul -- Chapter 4 -- Opportunity Sectors 49 -- Energy: Waiting for the Freedom to Grow 49 $x Telecommunications: Revolution in the Offing 54 -- Food Processing and Packaging: Major Potential 58 -- Medical Appliances and Equipment: Buoyant Market 63 -- David Tonge, IBS Research and Consultancy -- Case Studies 66 -- Paul Cheeseright -- Chapter 5 -- Finance and Accounting 69 -- The Banking System 69 -- Ekrem Keskin, Banks Association of Turkey -- Financial Services 77 -- Adnan Ayman, Yapi Kredi Bankası -- Accounting Requirements 80 -- Adnan Nos, PricewaterhouseCoopers, Istanbul -- Chapter 6 -- Istanbul Stock Exchange 85 -- Mehmet Sami, ATA Menkul Kıymetler AŞ $x Chapter 7 -- Partnerships 93 -- Pros and Cons of Direct Investment 93 $x Selecting the Method of Investment 95 -- Professor John Burton and Mehmet Öktemgil, Birmingham -- Business School -- Case Studies 100 -- Paul Cheeseright -- Chapter 8 -- Tax and Law 103 -- Mehmet Şafak, Ernst & Young, Istanbul -- The Tax System 103 -- Personal Taxes 103 -- Corporate Taxes 107 -- Other Taxes 113 -- Employment and the Social Security System 116 -- Tax and the Shape of Foreign-owned Business 117 -- Commercial Disputes 118 -- Competition Rules 119 -- Property Ownership 119 $x Intellectual Property 120 -- Regulating Business 121 -- Chapter 9 -- Human Resources: Defining a Policy 127 -- Mehtap and Merih Alanyali, Alanyah & Alanyah -- People and Jobs 127 -- Labour Law 129 -- Chapter 10 -- Business Culture, Custom and Practice -- Attitude and Expectation 139 -- Foreigners in the Turkish Marketplace 141 -- Mehtap and Merih Alanyah, Alanyah & Alanyah -- The Black Economy 142 -- Michael Kuser, Turkish Business World -- Chapter 11 -- Turkey and the Major Trading Powers 149 -- Michael Kuser, Turkish Business World -- The European Union and Customers Union 149 $x Relations with the United States 154 -- Relations with the Turkic Republics 160 -- Chapter 12 -- Support Services 167 -- Paul Cheeseright $x Case Study I 170 -- Tony Gunn, Shropshire Business -- Case Study II 171 $x Ayse YenerKolat, UDAS International Consulting -- Appendices -- 1 Differences Between Turkish Accounting regulationsandInternational Accounting Standards 173 -- 2 How to Invest 177 -- 3 How to Set Up a Company 179 -- 4 Address Book 181 -- 5 The Social Profile 207