Could Turkey become the new Dubai of trade? It has been on the agenda for a while. Yesterday, we had a little chat about this topic on a live broadcast, so I thought I’d write about it here.

Unfortunately, with Turkey’s current legal and tax system, the likelihood of becoming a trade hub is very difficult. Declaring a free zone area and bringing a handful of companies there does not make it an international trade center.
Let’s give a simple example; if a company in Turkey sells goods to someone, and the buyer doesn’t pay, the case or appeal can take almost 5 years. The same case in Dubai or Singapore is resolved in half that time.
Another reason is that, unlike sluggish European countries, how will you attract investment with corporate tax, VAT, etc., like Dubai?
To simplify further, we could say, “Is it a trade center where cryptocurrency transactions are banned, and services like PayPal, Booking, Uber, Wise, and many other global companies are unavailable or very limited?”
Of course, these issues could be fixed with a law, but so far, we’ve seen that nothing has been done, and even things that would set us back have been preferred.
If only the necessary vision were presented, it would truly be fantastic for Turkey’s development and the well-being of its people. Our country’s potential is undoubtedly 10/10. There is a tremendous opportunity in front of us.
The realistic situation we are in is 4/10.