Türkiye has always been a country of contrasts – a place where East meets West, tradition meets innovation, and bureaucracy meets admirable flexibility. Seen through Finnish eyes, it is a land where, quite literally, everything is possible. Beyond the postcard images of Alanya’s beaches, Türkiye offers wonderful ski resorts, bustling business districts, and a population known for its warmth and creativity. For business purposes, Türkiye offers a growing economy with its population close to 87 million.

Things move fast in Türkiye - faster than one can imagine. When something truly needs to get done, it really does get done. The agility of Turkish problem-solving is remarkable, and the flexibility and creativity of Turkish partners are impressive.

Finnish expertise is particularly well-suited to Türkiye’s current transformation. Northern clean energy technologies and circular economy solutions are clearly in demand. Luckily Finns are known for top-notch education and trust, which makes it easier for Finnish companies to start the actual negotiations.

Politics Amid Constant Change – yet remarkable market opportunities

In Türkiye, a single week can bring more news than half a year in Finland. These days Türkiye is again in the headlines, not only for its political turbulence but also for its growing role as one of Eurasia’s most dynamic markets. For Finnish businesses, the country offers remarkable opportunities at the intersection of Europe, Asia, and the Middle East.

Geopolitics keeps Türkiye firmly in the international spotlight and the country itself is a regional hub for many businesses. From Türkiye, it is easy to reach the markets in all directions. On top of that, a new trade corridor, the so-called TRIPP route, could connect Europe and Central Asia while bypassing Russia and Iran. Türkiye’s strategic location makes it an essential hub in this emerging logistics network, attracting growing global interest.

Market Full of Potential

The trade volume between Finland and Türkiye has been realized as US 1.8 billion dollars in 2024 and there has been a trend of increase in trade volumes by around 30% during the last 5 years. During the Joint Economic and Trade Commission meeting held in Helsinki in February 2025, Finland and Türkiye agreed on working towards the goal of increasing bilateral trade volume by around 40% until the end of 2029

Türkiye is a major market despite the Finnish believes. The country’s economy continues to expand, driven by strong domestic demand, ambitious infrastructure projects and a thriving defense industry.

Türkiye has retained its position among Finnvera´s top 10 countries in terms of its exposure for export credit guarantees and Finnvera´s liabilities for export transactions guaranteed to Türkiye amounted to more than EUR 0.8 billion at the end of 2023. The reinsurance agreement signed between Finnvera and Türk Eximbank at the Türkiye-Finland Joint Economic and Trade Commission (JETCO) meeting held in Helsinki in February 2025. The agreement envisages joint support of Tuk Eximbank and FINNVERA for transactions undertaken by Turkish and Finnish companies in 3rd countries through insurance/reinsurance mechanism. The most important sectors for export financing incluce telecommunications, the pulp and paper sector and the minign and metal sector. Finland´s traditional trade relations with Türkiye are also reflected in exports of consumer goods.

Türkiye’s industrial base is far larger than many Europeans realize. It is now the world’s second-largest provider of international engineering and contracting services (EPC), with Turkish firms delivering projects worth over half a trillion dollars in 137 countries. This creates indirect opportunities for Finnish companies supplying high-technology and sustainable solutions. Institutions like Finnvera can support these ventures through export credit financing and help Finnish firms to export in these large-scale Turkish or third-country projects led by Turkish contractors.

Finnish expertise is particularly suitable to Türkiye as the country is transforming its infrastructure to cleaner and sustainable solutions. The Carbon Border Adjustment Mechanism, which will be implemented within the European Green Deal, will affect Türkiye, as on of the largest trade partners of the EU, and especially its manufacturing industries. The most affected industries are expected to be steel, aluminium, cement and fertilizers where the carbon roadmaps of these industries have been prepared by the Turkish government. There is growing demand in for Finnish know-how, particularly in circular economy solutions and clean energy technologies. Waste management and recycling challenges create a clear demand for circular economy solutions. Similarly, clean energy technologies and digitalized infrastructure align with the country’s modernization goals decided in Ankara.

Finland´s existing circular economy solutions and clean energy technologies will contribute to the development of co-operation between the two countries; Finland is the pioneer country in developing sustainable and innovative textile raw materials. Finnish companies are actively cooperating with the leading representatives of Turkish textile industry which will support the decarbonization efforts of Turkish textile and ready wear garment manufacturers.

Within the framework of the cooperation protocol signed between Business Finland Headquarters and TÜBITAK in August 2023, a joint R&D and innovation project call was announced in November 2023 on the sustainability of production in the automotive and textile industries. Following joint evaluations by Business Finland and TÜBITAK, a total of six projects from the textile and automotive sectors were eligible to benefit from the innovation funds provided by the two institutions. The consortium projects, formed by Turkish and Finnish companies, began implementation in 2024. To enhance R&D&I collaboration between the two countries, Team Finland Türkiye is collaborating with Turkish authorities and private sector representatives in different projects including a second call with Tübitak (The Scientific and Technological Research Council of Turkey) and matchmaking events encouraging Finnish and Turkish stakeholders to co-apply to the EU Funds for co-innovation projects.

Türkiye’s rapidly expanding defense industry also offers another area for cooperation. It has seen exponential growth, attracting international attention and partnerships. In June, Finland and Türkiye signed a bilateral memorandum of understanding on defense industry cooperation that reflects our new partnership within NATO.

The Art of Doing Business in Turkish Style

Türkiye never ceases to surprise, and it is a country full of contrasts. But also a country of endless possibilities.

For Finnish companies I have one advice: finding the right contact is crucial in Türkiye. A local partner who understands the customs and knows the key decision-makers can open doors that would otherwise stay closed. Investing in relationships truly pays off in this case.

No meeting begins without the ritual question: “Tea or coffee?” While Turkish tea is familiar to most Finns, the famous Türk kahvesi is not. Served in an espresso-sized cup, it’s thick, aromatic – and the grounds stay in the bottom. The key advice: sip slowly.

Flexibility is another hallmark of Turkish business life. Plans can change at the last minute, but the outcome often exceeds expectations. You can forget confirming everything weeks in advance – surprises are part of the culture and it is better to get used to them.

In business, Turks are known as master negotiators who value trust and personal relationships. Building that trust takes time and patience. Fortunately for Finns, there’s an unexpected historical connection: Mustafa Kemal Atatürk, the founder of modern Turkey, once included the Finnish classic “The Land of the White Lilies” in the curriculum of military academies. The book’s influence still resonates, giving Finns a uniquely positive reputation in Turkish eyes. Besides the fact that Finland is well known as the country of white lilies, we are also appreciated thanks to our great education system.

Türkiye Through Finnish Eyes: Where Tradition, Turbulence and Opportunity Meet