Investors fear Erdogan’s tough foreign policy

Investors fear Erdogan's tough foreign policy

Investors fear Erdogan’s tough foreign policy

News Time

Turkish President Recep Tayyip Erdogan’s increasingly decisive foreign policy is angering Western allies and frightening investors. Arab News quoted the AFP news agency as saying that some analysts said that Turkish President Recep Tayyip Erdogan would slow down in this regard. Critics say Erdogan failed in last year’s municipal elections when his rivals won in Ankara and Istanbul. In the wake of these bitter election results, they have begun to promote patriotism in order to gain the support of the people. The government’s position is that Turkey is defending its interests against unfriendly nations in this volatile region. Erdogan softened his tough rhetoric earlier this month after Turkey faced financial difficulties that forced him to shake his economic team.

Turkish troops and military advisers are still scattered from Syria to Libya, causing unrest in the capitals from Europe to Washington. Erdogan is also challenging his Greek rival in the Eastern Mediterranean. They are moving towards Russia after winning the war against Armenia by supporting Azerbaijan. Analysts say Erdogan’s current behavior may temporarily attract voters, but he will not be able to attract foreign investors who could support a weakening economy. Kadri Tastan, a member of the German Martial Fund in Washington, says Recep Tayyip Erdogan’s foreign policy is creating great uncertainty about Turkey. The Istanbul Center for Economic and Foreign Policy Studies also agrees that Erdogan’s policies are straining Turkey’s relations with European and American economic partners. Turkey’s trade and investment relations are mainly with these two economic centers. It should be noted that one of the main reasons for Turkey’s conflict with the European Union is Turkey’s search for natural gas in the seas near Cyprus and Greece. The bloc warned Turkey last month that it could face immediate sanctions if it continued its operations.

It should be noted that the next summit of the European Union will be held on December 10 and 11, 2020. Turkey also fears US sanctions over the controversial purchase of a Russian anti-missile system following the success of new US President Joe Biden. In this context, analyst Anthony Skinner says that in the current situation, there is a danger that in 2021, Turkish-US relations will reach a new low.


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