FOREIGN TRADE IN TURKEY

Trade did not play a big role in the Turkish Economy till 1980, but grew rapidly after many economic reforms building up an outward oriented economic structure.These reforms were designed to remove price controls, reduce tariffs and promote exports. Export and import did not only experience a rapid growth, but changed also the structure of foreign trade, and the emphasis on industrial products became more and more each day.

In order to increase the competitive strenght of the Turkish exporters in foreign markets, some credits and guarantee programs began to be applied to high export potentials by Turk Eximbank, which was founded 1987.

In addition to being a World Trade Organization (WTO) member, Turkey has also entered a number of multilateral trade relationships to increase its presence in the world trade arena. It signed a free trade agreement with the European Free Trade Association (EFTA) in 1991

The most significant point in Turkey's foreign trade policy is the Customs Union that has been founded between EU and Turkey as of 01.01.1996. Both export and import regimes have been modified in compliance to the regulations of the EU countries