Turkey’s upgrade to Asean dialogue partner offers both sides business opportunities
Unlocking Asean-Turkey investment openings requires joint due diligence, clearer rules and localised strategies
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WHEN Asean foreign ministers formally accorded Turkey the status as Dialogue Partner on Jul 21, the decision was welcomed in Ankara as a diplomatic breakthrough.
But attaining Dialogue Partner status changes no tariffs and signs no contracts between Asean and Turkey. Turkey’s commercial and industrial sectors are thus still assessing whether this will translate into concrete opportunities for both parties.
Turkish companies will benefit from local partners, finance and risk management to grow in South-east Asia, while Asean firms need clearer access to Turkey’s industrial clusters, consumer market and the country’s links with Europe, the Middle East and Central Asia.
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