Turkish domestic equity markets and inward foreign investment are poised to grow rapdily but only if corporate governance standards are high enoughto protect minority shareholders. This report evaluates the extent to which the OECD Principles of Corporate Governance have been implemented in Turkey, looking at both the legal and regulatory framework as well as company practices.It finds that significant reforms to the corporate governance framework have already been introduced, and supports additional legislative reforms that are already in progress. Looking ahead, the report argues that it is time to move into the next important phase in policy reform, and makes a series of recommendations for further strengthening Turkeys corporate governance structures.