Anniversary meeting,June 24, 1936

The election of the first government of the Justice and Development Party (AKP) in 2002 was a turning point for Turkey. People wanted change. That's what the AKP offered. Their successful economic management has seen Turkey transformed over the last 12 years. Foreign policy initiatives also prospered and relations with a number of neighbours improved.. More recent events have led some commentators to ask whether Turkey is moving forwards or backwards on the democratic path. There are concerns that the Ataturk legacy of a secular state is being slowly eroded by the forces of a conservative democracy and that too much power is now concentrated in the hands of Mr Erdogan. This is the background to the 2013 riots in (westernised) Istanbul. And the situation in the region leaves little room for optimism. The challenge now is to promote the political stability and predictability that will encourage continuing foreign and domestic investment in Turkey and to undertake the further structural reforms essential if Turkey is to rise out of the middle income trap and climb into the group of wealthier nations.     

PROSPECTS FOR BRITISH BUSINESS IN ASIA

This article reflects his address to members of the Society on 12 November 2007.