Special incentives and financing opportunities will be provided to SMEs with high export potential

With the reforms to be implemented until the end of the year, aimed at spreading exports to the base and increasing the competitiveness of exporters, SMEs with high export potential will be encouraged to open up to foreign markets.

The calendar of the Economic Reforms Action Plan, announced by President Recep Tayyip Erdogan on March 12, to grow the economy on the basis of investment, production, employment and exports, and the road maps of relevant ministries and institutions have been announced.

According to the information compiled by the AA correspondent from the action plan in question, important steps will be taken to expand exports to the base and increase the competitiveness of exporters this year.

SMEs with high export potential will be further encouraged to open up to foreign markets. Regulations on the subject will be completed in the first half of the year under the responsibility of the Ministry of Commerce and with the contributions of the Ministry of Industry and Technology.

Exporters’ access to potential markets and distribution channels will be accelerated by opening foreign logistics centers (YDLM) until the end of the year. In this direction, the Ministry of Commerce will carry out joint studies with the Ministry of Transport and Infrastructure.

With the cooperation of Trade and Industry and Technology ministries, “New Generation Specialized Free Zones” will be put into operation for the production of high-tech, high-technology and high value-added goods and services.

SMEs’ access to finance will be facilitated

Exporters who produce high value added products will be supported with receivable insurance and buyer credits in countries with a high competitive advantage and export potential. Arrangements for these supports will be implemented by the end of the year.

In this period, SMEs’ receivables, which are secured by the “State Supported Credit Insurance System”, will be accepted as collateral in the eyes of banks, thus facilitating access of these firms to finance.

Turk Eximbank will be restructured

On the other hand, Turk Eximbank will also be restructured by taking international best practices into account.

The infrastructure transformation that will enable exporters to carry out transactions related to Turk Eximbank support through digital channels without being dependent on branches will be carried out by the middle of 2022.

Source: AA / Translated by Irem Yildiz

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