The BRICS nations represent some of the world’s most dynamic and rapidly developing economies. Turkey, straddling Europe and Asia, is a rising regional power with significant economic potential. A recent analysis by Daily Sabah explores the economic synergies between Turkey and the BRICS countries, including a diversified economy with strengths in manufacturing, agriculture, and services.
For instance, Brazil’s agricultural output, Russia’s energy resources, India’s IT services, China’s manufacturing prowess, and South Africa’s mineral wealth present a broad spectrum of potential trade and investment opportunities for Turkey.
Other potential benefits lie in trade opportunities. Currently, China is Turkey’s largest trading partner among BRICS, with significant imports and exports in machinery, electronics, and textiles. Increasing bilateral trade with other BRICS countries can diversify Turkey’s trade portfolio and reduce its dependence on traditional European markets.
Turkey can also benefit from BRICS’ vast markets by exporting its industrial products, such as automotive parts, machinery, and chemicals. Additionally, Turkey’s agricultural products, like fruits, vegetables, and processed foods, can find lucrative markets in BRICS countries. Conversely, BRICS can export raw materials and intermediate goods to Turkey, aiding its manufacturing sector.
Read the full analysis here.
