Foreign Trade Legislation is Based on Three Fundamental Pillars.
- Customs Legislation – Organizes and manages the Movement of the Goods.
- Regimes – Includes regulations on the importation and exportation of the goods
- Foreign Exchange Legislation – Manages the regulations regarding the Movements of Money.
Institutions Coordinating Foreign Trade Legislation
The legislation, which constitutes the three fundamental pillars of foreign trade transactions, is managed and directed by three institutions. These institutions are as follows:
- It is the General Directorate of Imports and the General Directorate of Exports, currently serving under the Ministry of Trade.
These two General Directorates regulate the procedures of the Foreign Trade. A series of applications and regulations regarding the Import Regime, Export Regime, and import and export transactions are carried out under these two general directorates’ coordination.
- The second institution is the General Directorate of Customs, also serving under the Ministry of Trade. This institution also deals with the movement of goods,
- governs the regulations on the implementation and follow-up of customs duties and Trade Policy measures,
- the customs rules that apply to arriving to the Customs Territory of the Republic of Turkey and the goods and vehicles.
The Ministry of Commerce’s General Directorate of Customs, Risk Management, Liquidation, and Capital General Directorate, Directorate of Revolving Fund, and Directorate General of Customs Enforcement manages the regulations determined by the Customs Law No.4458, Customs Regulation, Anti-Counterfeiting and Anti-Smuggling Law No.5607 and the procedures and principles regarding the implementation of the legislation.
- The third institution directs the payments related to foreign trade transactions; in other words, money movement within the Ministry of Treasury and Finance. This legislation is called Foreign Exchange legislation.