Turkish multinationals in Russia

Abstract

The accelerated internationalization of Turkish multinational companies (MNCs) over the last few years has been phenomenal. Turkish MNCs’ foreign direct investment (FDI) outflows increased over threefold from $840 million in 2000 to $3.1 billion in 2013 (UNCTADSTAT 2014). During the same period, the volume of Turkish MNCs’ outbound acquisitions increased over 17 times from $108 million to $1.8 billion (Thomson Reuters Mergers and Acquisitions Database 2016; Deloitte 2014). Over the ten-year period from 2004-13, their greenfield investments increased over threefold from $2.2 billion to $6.9 billion (fDi Intelligence Database 2016).2 Clearly, Turkish MNCs are increasingly integrating with the global economy.