Turkey and EU have developed a strong economic relationship even if Turkey is not yet a EU member, but it signed a Customs Union agreement with the European Union in order to encourage trade and economic relationships. In the recent years, EU has ranked 1st in the top of Turkey’s imports and exports, while Turkey is the 7th in the EU top imports and 5th for exports. Turkey exported in EU many categories of goods, such as: equipment for transport, textiles, agricultural products, cars etc. and imported chemical products, machinery and transport materials.
The Custom Union agreement has encouraged the trade between the two entities because it stipulates free circulation of goods. The products having an A.TR certificate and being delivered to Turkey have a preferential treatment. The Custom Union refers to industrial goods and not agricultural products, except the processed agricultural ones, services and public procurement.
There are eight customs regimes in Turkey, according to the local legislation:
- Release for Free Circulation
- Customs Warehousing
- Inward Processing
- Processing Under Customs Control
- Temporary Admission
- Outward Processing
If you open a company in Turkey and you want to import or export different goods you need a valid tax number. For exports, you also need to be a member of a union in this field of activity.
Turkey has exported mainly in EU, Iraq, Russia, USA and United Arab Emirates and imported also from EU, Russia, China, USA and Iran.
The Euro-Mediterranean Partnership’s (Euromed) goal is to promote economic integration among the 16 countries near the Mediterranean Sea and Turkey is one of members of this entity. These countries have signed free trade agreements in order to develop the economic relationships among them. In Euromed there are countries from Europe, Africa and Middle East and this partnership helped Turkey to extend its exports to the countries from Africa and Asia and grow its economy. The main products exported by Turks are: clothes, cars, agricultural products etc. In the recent years, once the economic crises have affected most of the European countries, Turkey developed exports to African, Asian countries and states that are members of the Organization of Islamic Countries.
If you are interested in opening a company in Turkey and develop a business in exports/imports field, you may call our company formation agents.