Trade Profile: Turkey, Caught in the Middle

Situated at the crossroads among Europe, Asia and the Middle East, Turkey has long benefited from the robust trade networks that pass through it. Advances in technology have diminished the role Turkey's geographic position plays in its economy today, if only slightly. Nevertheless, the location that historically has made the country a hub still gives it an advantage in industries such as shipping and logistics. Turkey's position, moreover, allows it to choose its regional trade partners. Having focused on expanding its economic ties with Europe for most of its modern history, Turkey understands the limitations of its relationship with the European Union. But as it works to diversify its trade ties with partners in the east, it will have to tread lightly to avoid jeopardizing its most important export market and the one to which it is closely legally bound....