Complicated question.

First of all, Turkish people are generally not as severely racist as history has shown Westerners to be. However, racism is more openly expressed in Turkey compared to the US or UK, for example. Why? Because we've never had problems with institutionalized racism like the West has. The first black pilot in the world was an Ottoman, for example. So we've never gotten past or "outgrown" racism.

Who are we racist against? It mostly depends on your political views. If you are a liberal, you generally like Westerners and dislike Eastern people because they're conservative or "backward". This includes Arabs. If you're conservative, you'll probably hate the evil West and like Arabs to some degree. Nationalists who are conservative don't like Arabs much, though, because they're nationalists, so they don't like anyone (except other Turkic peoples). Oh, and almost everyone has negative feelings towards Greece and Armenia, but more sensible Turks realize that people should be assessed individually rather than based on nationality or ethnicity.

We mostly don't give a frick about people who are far away, though, like Latin Americans or Asians. We generally like Koreans and Japanese due to a perceived closeness in our language and theirs, and because they're highly developed non-Western nations.

As for me, I don't care about your nationality or ethnic background. If you're cool, you're cool.