Turkish agribusinesses have been attracting increasing investments from Middle Eastern investors. In December 2013 Abraaj Group acquired 80% of the Turkish dairy company Yörsan and in January 2014 Bahrain’s Investcorp purchased a significant minority stake in Turkish meat producer Namet. Most food produced in Turkey is done so according to the Muslim halal guidelines, and given the increasingly affluent and growing Middle Eastern population directly to the south of Turkey, analysts with Istanbul-based Goncu Consulting estimate that annual food exports from Turkey to the Middle East and the EU could reach $150 billion within five years. There are hurdles that Turkey will have to address before this goal is achieved however. Government sponsored urbanization projects have caused a lack of medium sized farms needed to develop arable land and expand exports leaving a decentralized industry made up primarily by smallholders, and has caused a lack of available agricultural labor. Land ownership laws in the country have made foreign ownership difficult, but in recent years the government has shown signs of willingness to work with foreign investors.
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