THE TURKISH RENASCENT IN THE MIDDLE EAST AND ITS IMPACTS ON TURKEY'S ECONOMY

THE TURKISH RENASCENT IN THE MIDDLE EAST AND ITS IMPACTS ON TURKEY'S ECONOMY

THE TURKISH RENASCENT IN THE MIDDLE EAST AND ITS IMPACTS ON TURKEY’S ECONOMY

By Polat Urundul,

After the failed coup attempt in Turkey, Erdogan’s rhetoric against the West and his visit to Russia was critical for many analysts. It was claimed that Turkey is trying to put pressure on the US by its rapprochement with Russia. However, Turkey’s military intervention in Jerablus, and the American-led coalition’s air support on Turkish troops show the opposite. This may have positive implications on the Turkish economy.

Turkish artillery units and war planes cooperating with the American-led coalition entered the Isis-held Syrian town, Jerablus on Wednesday (24th of August). Turkey’s military operation in Syria signifies that there is an agreement on the Syrian issue between parties. After the incursion backed by the air support from US-led coalition, it can be said that Turkey seeks its greater involvement in Syria. The US support on Turkish troops in Syria and Joe Biden’s visit to Ankara show a certain agreement between Turkey and its strategic partner, the United States. The Turkish prime minister, Binali Yildirim declared on Tuesday (23rd of August) that Russia may use Incirlik air base for its air strikes on Isis. This declaration’s timing may also signify a certain agreement between Turkey and Russia. Eventually, Erdogan’s visit to Russia does not indicate any shifts in Turkey’s relationships with its traditional allies, but it may show that Turkey began to pursue pragmatic external policies once again. The Syrian regime and Russia’s shelling Kurdish terrorist groups in Syria are remarkable since Turkey does not want Kurdish domination in the key areas of Northern Syria. Therefore, it is also that Turkey may not have any problems with Assad regime until Isis will be defeated. “We may reach the end of the ongoing discussions on the war-torn country”, John Kerry stated, and Turkey’s intervention in Syria has justified that disagreements between parties on Syria may really end after a long deadlock in the area.

The deputy prime minister of Turkey, Numan Kurtulmus admitted that the Syrian Civil War has provided many problems for Turkey’s domestic and external policies. But, the new political way out of the crisis in Syria may bring Turkey stability. Having a strong population and free market, Turkey has specific aims to realize by 2023. These aims are to be among the top ten economies of the world in terms of the GDP, to increase exports to 500 billion dollars per year, and to reach annual GDP of 2 trillion dollars. Important infrastructure projects in Istanbul despite the global crisis in the recent past may help Turkey recover from performing well below its potential. This may indicate that Turkey will no longer remain vulnerable to potential sentiment towards emerging markets.

Turkey’s sudden u-turn in foreign policy making may also recuperate its prestige in the international community. Furthermore, Turkey can be a safer country after fighting against terrorist organisations such as ISIS, PKK and FETO. This shall also provide more advantages for investors who want to invest in Turkey, which may promise attractive returns of investments again in the near future.

Polat Urundul

Polat Urundul

Related Articles

Close
Close

Please enter your username or email address. You will receive a link to create a new password via email.

Close

Close