By. Justin Mays
Turkey’s global footprint is growing through its dynamic foreign policy, strong diplomatic corps (the fifth largest global diplomatic network in the world), and high participation in regional and international organizations. In 2019 Turkey’s Foreign Ministry launched the impressive Asia Anew initiative to enhance cooperation and grow engagement with Asian countries. Their aim with the Asia Anew program is to improve interstate relations, expand trade, strengthen academic cooperation and further develop civil society interaction.
Enhancing ties with the Asian continent through economic, political and cultural diplomacy in addition to creating new frameworks and institutional mechanisms to streamline their efforts since 2019, has begun to show results boosting ties with the region positively impacting relations with Turkic states. The Asia Anew project is indicative of a more modern multifaceted foreign policy approach that better suits Turkey’s location, long considered a geopolitical and cultural bridge between the East and the West. Turkey aims to more effectively utilize the potential of cooperation in Asia, a fast-growing economic region with the largest economy in terms of Gross Domestic Product (GDP). There is tremendous economic potential for both sides. Work that is being done as part of the initiative prioritizes balancing trade with Asia and boosting reciprocal investments. Sectors like advanced technology, tourism, finance and defense industry, infrastructure, transportation, logistics and energy projects, look to benefit the most from these efforts.
To support this approach, coordination mechanisms have been established at the top governmental levels so that all actors interested in dialogue and undertakings in Asia don’t have to continue to act independently and can combine efforts to deepen and diversify relations with Asian countries. Turkey has also been actively participating in regional initiatives and chaired the Asian Parliamentary Assembly (APA), the Developing Eight (D-8), the Economic Cooperation Organization and the Asian Cooperation Dialogue (AID) and is a sectoral partner at the Association of Southeastern Nations (ASEAN). Recently Chinese Foreign Minister Wang Yi met with President Recep Tayyip Erdogan to discuss bilateral relations.
Given this strengthening of ties with Asia, the Turkish economy is predicted to grow making this a good time to buy property in Turkey as an investment.
