Turkish Tax News
Diyadin YAKUT
23 June 2016Diyadin YAKUT

New Incentives for Foreign Trade

Addressing the conference on the ‘Competitive Practices in Customs and Trade’ by a domestic think-tank, Customs and Trade Minister Bülent Tüfenkçi reiterated government’s stance with respect to mounting competition in global trade and willingness to undertake some structural reforms to enable Turkey to get more from that giant economic pie.

Underscoring the vital importance of these aforementioned reforms, Minister Tüfenkçi expressed his unshakeable belief in Turkish entrepreneurs and foreign trade community in this regard, particularly when it comes to setting the so-called 2023-economic targets. He went on saying that the only endeavor of his government will be striving to facilitate the activities of Turkish entrepreneurs.

On the other hand, mentioning the fact that his government has already taken some important steps to incentivize foreign trade, Minister Tüfenkçi revealed the plan to declare a novel incentive package jointly prepared with Ministry of Economy encompassing a variety of incentives.

He also noted that his government will pursue future export policies under the slogan and strategy of ‘being in different markets simultaneously’ developed to back up their plans to decrease trade costs by simplifying and facilitating administrative procedures and requirements.

To this end, he said that they have accelerated their efforts to initially bringing down formalities that firms face at the customs and thus minimizing associated costs.

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