Turkey’s Commercial Diplomacy Strategy

Proceedings of The 6th International Conference on Advanced Research in Management, Business and Finance

Year: 2023



Turkey’s Commercial Diplomacy Strategy

Dr. Hasan Hakses



Countries employ commercial diplomacy as an instrument of foreign policy to safeguard and advance their economic interests. Turkey has been making significant strides in the area of commercial diplomacy in recent years by focusing on areas like Africa and Asia. The approach taken by Turkey’s commercial diplomacy strategy is one focused on regional development. In this environment, Turkey wants to strengthen its trade ties with nations in the Middle East and Africa. Turkey is implementing a number of actions to enhance export volume, expand commercial partnership chances, and grasp investment opportunities in these regions.
Turkey believes that Africa has a particularly large potential for commercial diplomacy efforts. Turkey has made a number of moves to expand its business operations on the African continent. Commercial consulting services, the establishment of the Turkish-African Business Council, and the holding of the Turkey-Africa Economy and Business Forum were all done in support of Turkish businesses investing in Africa. The signing of Free Trade Agreements (FTA) is a significant step in Turkey’s commercial diplomacy. By establishing a Free Commerce Agreement (FTA) with African nations, Turkey seeks to enhance the amount of its commerce with those nations. This study will assess Turkey’s significant achievements in the area of commercial diplomacy. To promote regional growth and economic wellbeing, Turkey intends to increase its export volume, assess investment potential, and build commercial partnership opportunities by looking to the African and Asian markets.

keywords:  commercial diplomacy, public diplomacy, regionalism, economic diplomacy, political economy