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Emerging Money: Turkey

With Britain’s Queen Elizabeth’s making her first visit in 37 years, Turkey comes into the spotlight once again. Should you follow the royals into this growing nation?

Queen Elizabeth II praised Turkey's role as a bridge between the West and the Islamic world on Tuesday during her first visit to the predominantly Muslim country in 37 years.

"For us, Turkey is as important now as it has ever been," the British monarch said at a state banquet. "Turkey is uniquely positioned as a bridge between East and West at a crucial time for the European Union and the world in general."

President Abdullah Gul thanked Britain for backing Turkey's bid to join the EU. "The United Kingdom has become one of our most loyal supporters in Turkey's march toward membership of the European Union," President Abdullah Gul said. "We are grateful for this unwavering and permanent support."

Turkey began membership talks in 2005, but progress has been slow over disagreements on divided Cyprus and opposition from some European countries.

Turkey is also one of the great allies of the United States, explains Tim Seymour. From an investor perspective I think it’s the cheapest emerging market. I’d play it with iShares MSCI Turkey Invest Mkt Index , Turkish Investment Fund and Turkcell .

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Read about all the companies in the Emerging Money Top 20, an index made up of 20 firms poised to profit from explosive global growth.

















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Trader disclosure: On May 14, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (MSFT), (INTC), (WMT), (EMC), (DIS); Pete Najarian Owns (AAPL), (BKC), (ENER), (TSO), (XLF); Pete Najarian Owns (C) Calls, (MSFT) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (JCP), (MSFT), (SUN), (TSO), (VLO), (AEO), (PLCE); Finerman's Firm Owns (YHOO) Puts And Call Spreads; Finerman's Firm Owns (C) And (C) Leaps; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"

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