REGIONALISM AND EMERGING MARKETS: An Analysis of Turkey's Trade with the BSEC and the EU

Özet

As the influence of regional economic blocs in world trade continues to grow, many countries, particularly from emerging markets, feel the pressure to join these regional agreements. The belief is that by joining them, the access to the member countries will bring economic opportunity - in terms of export opportunities and inward investment and help create political stability. Some countries, such as Turkey, are already members ofmore than one such preferential trading agreement and have the opportunity to join others. This paper reviews the relative importance ofthe European Union and the Black Sea Economic Cooperation organisationfrom the point of view of Turkey's trade with both blocs. The marketing and strategic implications ofthisfor Turkish businesses are discussed.