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Economics/CommerceOfficial Name: Republic of Turkey Capital: Ankara Population: 67 million Currency: New Turkish Lira Official language: Turkish A secular state in which the majority of the population is Muslim, Turkey occupies the peninsula of Asia Minor and the region of Eastern Thrace in Europe. It thus controls the entrance to the Black Sea, which is straddled by Turkey's largest city, Istanbul. Turkey's strategic location gives it significant influence in the Mediterranean, Black Sea and Middle East. Since the breakup of the USSR, Turkey has also been developing trading links with Central Asia. The Turkish Republic has a secular, democratic and parliamentary system. The nation is governed by the Council of Ministers. Turkey is a member of OECD, NATO and an associate member of the EU. Climate
Coastal regions have a Medietrranean climate. The interior has cold, snowy winters and hot, dry summers. Transportation The rail system is well developed. Plans exist for a $3 billion rail tunnel under the Istanbul Bogazi or Bosphorus, and for a high-speed link between Istanbul and Ankara. More expressways are planned, including a road bridge across the Dardanelles. Tourism 
Tourism remains a major foreign currency earner. Visitors are attracted by Turkey's fine beaches, classical sites such as Ephesus and Troy, and antiquities of both the Ottoman and Byzantine periods. Istanbul is a magnet for shoppers. People Turkey’s population is approximately 67 million. The most populated cities are Istanbul, Ankara, Izmir, Adana and Bursa. Language The Turkish language comes from the Ural-Altaic language. It is the seventh most spoken and widespread language which more than 200 million people speak. Latin Alphabet was accepted in 1928. In most of the holiday resorts, you will find English spoken by most of the Turks. MoneyThe monetary unit is the New Turkish Lira, which comes in notes and coins. Banks are open from 9am to 5 pm, often with a break for lunch from noon 'til 1pm. Money, however, can be changed at hotel receptions or obtained from cashpoints in the towns. Land Ownership A commission has prepared the draft stating that the reciprocity principle will continue. Foreigners can buy property in the areas where the building plan has been made (which are the municipality areas) up to 10,000 m2. Foreign companies can buy up to 50,000 m2 with the approval of the relating state departments for the investment in tourism, industry and technology. The council of ministers, for security reasons, can put a limit of 0.5% of the state area on the acquisition of property by foreigners. Also, the council of ministers may limit or prohibit the sales according to the area which is protected for hydro-energy, historical sites and for cultural and strategical reasons.
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