Turkey and the EU have developed a strong economic relationship even if Turkey is not yet an EU member, but it signed a Customs Union agreement with the European Union in order to encourage trade and economic relationships. In recent years, the EU has ranked 1st at 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 Customs Union agreement has encouraged the trade between the two entities because it stipulates free circulation of goods. The products having an ATR certificate and being delivered to Turkey have preferential treatment. The Customs Union refers to industrial goods and not agricultural products, except the processed agricultural ones, services, and public procurement.
The trading sector is one of the largest contributors to the Turkish economy, therefore starting a trading business in this country is very appealing to foreign entrepreneurs.
Foreign investors interested in opening companies in the import-export sector in this country can rely on the company formation services offered by our Turkish consultants.
There are eight customs regimes in Turkey, according to the local legislation:
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 the United Arab Emirates and imported also from EU, Russia, China, USA, and Iran.
Our company registration representatives in Turkey can offer more information on the customs regimes applicable here.
Turkey is a world leader when it comes to imports and exports, the trading industry being one of the largest in this country.
The most exported goods from Turkey are:
Among the countries Turkey exports most of its products to, Germany, Italy and the United Kingdom are the most representative in Europe. In the Middle East, Turkey exports most of its products in Iraq and the UAE.
When it comes to imports, Turkey imports raw materials, gold, textile fabrics, spare vehicle parts, and refined petroleum. The most recent reports indicate Turkey imports most of the raw materials from China, Germany, Italy, Russia, and the USA.
Located at the crossroads of Europe and Asia, Turkey is one of the most important trading partners for countries on both continents which gives it a great advantage in both importing and exporting goods. Furthermore, some of the raw materials imported by Turkish companies are processed and then re-exported as finished goods.
Our company formation specialists in Turkey can help foreign investors who want to open manufacturing businesses in this country.
Turkish companies and branches of foreign companies operating in this country can import goods under one of the customs regimes mentioned above. Depending on the products to enter the country, specific documentation must accompany them.
Generally speaking, the following documents need to be presented to the Customs Offices when importing goods into Turkey:
The imported products must also be accompanied by a commercial invoice and a packaging list.
When it comes to special products, such as fish, fresh fruit and vegetables, meat and other food products, these must be accompanied by health certificates, ingredient certificates, phytosanitary certificates, and other specific documents.
The list of documents which needs to accompany products imported by Turkish companies is quite extensive. Also, special licenses are required in certain cases, which is why we invite you to talk to our company registration agents in Turkey for information on the requirements related to setting up an import business in this country.
When it comes to exporting goods from Turkey to another country, the documents which need to be presented are similar to those required upon the import of products. Among these, the customs entry document, the commercial invoice, and packaging list together with a weight certificate must be presented.
The company exporting the goods must also hold a valid export license which will be verified by the customs authorities in the country the products are sent to.
Turkey has several free zones which benefit from special import and export procedures. These procedures usually imply less documentation, but also certain incentives such as VAT exemptions. Warehousing and storage facilities are also available in Turkish free zones.
With a deep knowledge of the legislation, our agents can help you open a company in Turkey in a free zone of your choosing.
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 the members of this entity. These countries have signed free trade agreements in order to develop economic relationships among them. In Euromed, there are countries from Europe, Africa, and the 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 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.