Business

SMEs and young people will be encouraged to export with the Medium Term Program

While the global economy is expected to maintain its growth momentum next year and the global trade volume is expected to accompany this, Turkey will witness steps that increase the range in exports as of 31 December. The competitive advantage of the exporter producing products with high added value will be supported by credit insurance and buyer credit in the country with high export potential. The Credit Guarantee Fund will support high value-added production and qualified employment with cost-effective selective loans. The legal regulation regarding the restructuring of Eximbank in accordance with international best practices will be implemented on the same date. The new generation specialized free zones, which will produce high technology, high value-added goods and services, will also start operating in December. The access of exports to potential markets and distribution channels will be accelerated through overseas logistics centers. In order to develop trade in geographically distant countries with high export potential, the strategy of distant countries will be implemented. New special programs will be introduced to encourage small businesses, youth and women to export.

FAR COUNTRIES STRATEGY

Within the scope of the Medium Term Program, Turkey will increase its range in exports of goods and services, and in this context, the “Far Countries Strategy” will be implemented with the aim of developing trade with geographically distant countries with high export potential. According to the program, the existing preferential trade and free trade agreements, primarily the Customs Union, will be updated and expanded to include service trade and digital trade.

Source: Sabah / Translated by Irem Yildiz

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