APEC As an Alternative International Market for Turkey

Abstract

Asia Pacific Economic Cooperation (APEC), which has more than half of the world economy, is almost half of international trade volume. Especially after financial crisis in 2008, the foreign trade volume fell because of European countries having demand shrinkage, thus Turkey begun to search for new markets or bigger market shares. APEC including World’s largest economies is the biggest cooperation for world trade and this makes foreign trade relations between Turkey and APEC more important. The aim of this study is to evaluate recent developments in foreign trade for Turkey and World, to search for share of APEC in Turkey’s foreign trade, to discuss the domination of European Union in international trade and to interpret current and potential trade volume between Turkey and APEC.