Comparative analysis of EU and BRICS countries on Turkey's foreign trade: Creation of alternative industrial - trade policies

EU countries on Turkey's foreign trade has been an important market, although it has a large share. While Turkey's foreign trade follows balanced outlook with EU group, the situation for It's foreign trade with BRICS countries is imbalanced against Turkey. Therefore, the BRICS countries has a very important place in Turkey's foreign trade. Although Turkey's trade volume with the BRICS countries has an increasing tendency, this increase brings trade deficit to Turkey. Even though BRICS countries have less share in Turkey's exports, they hold a big place on Turkeys imports. This situation presents the extent of dependency on BRICS countries while it increases the foreign trade deficit. Therefore, the idea that alternative policies should be followed to reduce both this dependency and the foreign trade deficit has gained importance. In this context arguments for the substitution of alternative industrial - trade policies will be evaluated and solution offers will be provided while taking into consideration the foreign trade structure with BRICS countries to revert the terms of foreign trade in favor of Turkey.