100 years Türkiye: Inspiring economic progress

The Daily Sabah publication has looked back at the economic progress of the Republic of Türkiye over the past 100 years in light of the country celebrating its centenary. Caliber.Az reprints this article.

''The future belongs to those who believe in the beauty of their dreams,” the Republic of Türkiye's founder Mustafa Kemal Atatürk once said.

October 29, 2023, marks a historic date in the annals of time, commemorating the centenary celebration of the Republic of Türkiye since its monumental inception in 1923. Mustafa Kemal Atatürk, the visionary architect of modern Türkiye, laid the cornerstone for a nation that not only shines as a beacon of hope and prosperity for its people but also resonates as an emblem of progress across the Muslim world. This momentous milestone underscores Türkiye's incredible journey toward socio-economic development and its vital role in nurturing profound bonds with nations worldwide, most notably its deep-rooted connection with Pakistan.

Türkiye has endured the tumultuous winds of history, facing five successful military coups since the birth of the republic in 1923. However, the events that unfolded on that fateful Friday marked a daring attempt at the sixth coup, with soldiers marching against President Recep Tayyip Erdoğan and his governing Justice and Development Party [AK Party].

Nestled within the heart of this remarkable nation is a constitutional secular state, a unique blend of history and modernity. Türkiye, with more than 95% of its population adhering to the Muslim faith, carries the legacy of once being the seat of a mighty Islamic empire. Throughout its storied history, the Turkish military has often stood as a stalwart guardian, shielding the cherished principles of secularism and the Constitution, diligently preserving the vision of its founding father, Mustafa Kemal Atatürk.

Türkiye also shares a profound connection with the Indian subcontinent, which reviews the complexities of Muslim identity. As time passed, the dynamics of Muslim identity in India underwent significant transformations. Following the reign of Shah Alam II, a practice emerged that held deep symbolism – the recitation of the name of the Ottoman caliph during the Khutba [or Friday sermon]. This seemingly subtle act signified a profound shift in perception, indicating that the mantle of safeguarding and defending the Muslim community in India had passed from the Mughal emperor to the Ottoman caliph, the spiritual leader of the Ottoman Empire.

The passage of a century has borne witness to Türkiye's remarkable metamorphosis into a regional powerhouse, replete with a robust economy and a rich cultural heritage. It stands as a dynamic and influential global player.

The transformation of Türkiye's economic landscape across the past century is nothing short of extraordinary. Its commitment to diversification, innovation and visionary leadership has catapulted it into the echelons of emerging economic giants. Straddling the continents of Europe and Asia, Türkiye's strategic geographical position has amplified its global significance. Embarking on ambitious endeavors such as its 2023 vision, namely the 'Century of Türkiye', Türkiye is poised to continue its journey toward becoming one of the world's leading economies by its centennial anniversary. While the path ahead is laden with challenges, it also brims with opportunities for further progress, stability and prosperity.

Over the course of the century, Türkiye has borne witness to a remarkable economic transformation. This evolution has been marked by diversification, innovation and technological advancement across various sectors. In recent years, Türkiye has been ardently working toward establishing itself as a regional hub across a spectrum of fields, encompassing finance, manufacturing, tourism and agriculture, to name a few. Its geographical location at the crossroads of Europe and Asia has conferred upon it a unique advantage, facilitating international trade and beckoning foreign investments. Under the sagacious leadership of President Erdoğan, Türkiye has embarked on a series of comprehensive reforms aimed at fortifying economic growth and stability. Initiatives like the 2023 vision plan, unveiled in 2011, have set audacious targets, envisaging Türkiye as one of the world's top 10 economies by its centennial anniversary. These reforms have fostered an environment conducive to foreign direct investment, nurturing both domestic and international trade.

This journey is nothing short of miraculous. Türkiye's path to progress is emblematic of the relentless pursuit – of growth, modernization and diversification. It has transitioned from a primarily agrarian economy into a dynamic and multifaceted one.

Diversification stands at the heart of Türkiye's economic prowess. The nation has been unwavering in its promotion of innovation and technological advancement across a spectrum of industries. This strategic approach has enabled Türkiye to diversify its economic foundation, transcending traditional sectors and embracing novel opportunities.

In recent times, Türkiye has been zealously endeavoring to establish itself as a regional hub, spanning various sectors from finance and manufacturing to tourism and agriculture. Its geographical juncture at the intersection of Europe and Asia has played a pivotal role in its regional ascent.

Türkiye's unique geographical position bestows a strategic advantage, bridging two continents and serving as an ideal conduit for international trade. This geographic centrality has enticed businesses and investors eager to leverage Türkiye's role as a gateway to both Europe and Asia.

The visionary leadership of Erdoğan has been instrumental in steering Türkiye's economic transformation. His administration has championed far-reaching reforms aimed at enhancing economic growth and stability. The commitment to creating an environment conducive to investment and innovation remains unwavering.

Among the most notable milestones in Türkiye's recent economic history is the inception of the Vision 2023 plan in 2011. This ambitious plan laid out a series of goals and targets for Türkiye to attain by its centennial anniversary. These targets spanned an array of economic facets, from gross domestic product [GDP] growth to foreign trade, and infrastructure development to educational and health care reforms.

Central to Türkiye's economic transformation is its prowess in attracting foreign direct investment. The 'Century of Türkiye', coupled with other reform initiatives, has nurtured an environment that is alluring to international enterprises. This has precipitated a surge in foreign investments, fueling economic growth and job creation. Moreover, Türkiye's economic evolution is underscored by a substantial increase in both domestic and international trade. The nation's enhanced infrastructure, streamlined trade regulations, and strategic geographical position have rendered it an attractive destination for businesses seeking to expand their markets.

While Türkiye's economic progress is indeed commendable, it has not been devoid of challenges. Economic stability and growth have, at times, been juxtaposed with the need to address issues such as inflation, fiscal deficits and currency fluctuations. However, the nation's leadership remains steadfast in its commitment to surmounting these challenges and pursuing opportunities for further growth''.