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eralised System of Preferences (GSP). With the creation of the Customs Union between the EU and Turkey, such products are also covered under Turkey’s GSP regime.??Measures not covered by the Customs Union??Trade-protection measures such as anti-dumping, however, have not been eliminated between the EU and Turkey. Such protective measures have likewise not been eliminated with respect to dumped and subsidised products from third countries. In other words, Turkey has its own anti-dumping actions, which are separate from those of the EU. Turkey used to impose safeguard quotas on certain textile products originating from the Chinese mainland, which were again different and separate from those of the EU, but they were expired by the end of 2008.??Product standards??The Turkish Standards Institution, or TSE, is the product standardisation body of Turkey, responsible for setting product standards and ensuring compliance.

Main Sectors of Industry

Agriculture in Turkey, which contributes nearly 10% of the GDP and employs practically a third of the population, still suffers from low productivity because of its management system (small farms). Wheat is the main crop. The country is the third biggest exporter of tobacco in the world, the leading producer of hazelnuts (70% of world production). Mineral resources are abundant but under-exploited. ??The manufacturing industry, the main industrial activity of the country, makes up nearly 30% of the GDP and commands almost 18% of the workforce, the textile and automobile sectors being the main activities. The Turkish government gives special priority to large infrastructure projects, particularly in the transport sector, which mostly function under the BOT model (build, operate, transfer). ??The tertiary sector contributes slightly less than two-thirds to the GDP. Tourism represents 4% of the GDP with about 13 million tourists a year and almost 22milions in profits, thus making it one of the key sources of foreign currency for the country.

Source: World Bank - Last Available Data.

Turkey Market Overview

Current Economic Situation

The Turkish economy ended 2010 with a strong GDP revival of 8.9%, thanks largely to the gradual global recovery and its low interest rates and sustained public spending ahead of general election in June 2011. Under the dark cloud of the European sovereign debt crisis and the political turmoil in the Middle East and North Africa (MENA) region, the return of foreign investment and improvements of labour and credit market conditions have shown signs of cooling in recent months, while industrial production has faltered in light of slowing exports.

With the more restrictive monetary and fiscal policy mix coming into play to rein in inflation and the revival of domestic demand easing with the deteriorating employment prospects, Turkey is forecast to see growth moderate to a more sustainable pace. Still-tight credit conditions and the uninspiring economic conditions in many of its trading partners are set to limit the contribution to growth of investment, industrial production and exports. On the whole, Turkey is forecast to see slower growth of 5.7% in 2011 and 3.5% in 2011.

Trade Policy

Turkey has significantly liberalised its import regime, especially in the last decade. Any individual or enterprise can freely register to engage in the import busine