Turkey attracts foreign firms with suffering lira

There is a silver lining to Turkey’s currency crisis and the global supply chain crunch: the country is becoming an attractive alternative at the gates of Europe for foreign firms. Turkey is seizing on its geographic advantage to woo companies as the skyrocketing cost of sea freight and coronavirus pandemic-related disruptions to supply chains push some European companies to reduce their dependence on Asia. President Recep Tayyip Erdogan, whose policies have contributed to the lira’s plunge, has promoted a new slogan for exports: “Made in Turkiye”, using the country’s language instead of the i…

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