The New Turkish Trade Law (TTK) Introduction and Training Meeting, aimed at companies, was held in Istanbul by TOBB and the Customs and Commerce Directorate. ​


Union of Chambers and Commodity Exchanges of Turkey

“Our efforts are to have the law go into effect in July as planned”

08.02.2012 / İstanbul


The New Turkish Trade Law (TTK) Introduction and Training Meeting, aimed at companies, was held in Istanbul by TOBB and the Customs and Commerce Directorate. ​


The meeting was attended by the President of the Union of Chambers and Commodity Exchanges of Turkey M. Rifat Hisarcıklıoğlu, Customs and Commerce minister Hayati Yazıcı and the Customs and Commerce Ministry Undersecretary Ziya Altunyaldız.

Speaking at the opening of the meeting, TOBB President Hisarcıklıoğlu stating that interest in the new TTK is on the increase, said, “We had begun our information activities back in April. We held meetings in the 7 regions of Turkey along with Deloitte. Unfortunately attendance in those meetings by the business world was less than desirable. Only financial accountants attended them. The turn out today is wonderful.”

Stating that these introductory meetings will be held in 13 more provinces, the TOBB President said, “We will explain the new law to the business world, note their views and present them to the Minister. The new series of meetings we have started together with the Ministry are also supported by Turkcell. Everyone from any of the 81 provinces can watch this meeting live from their computer. I think we owe Turkcell our thanks.”

- The new TTK is a revolution

“The new TTK is a revolution that will be recorded in Turkey’s economic history,” said TOBB President Hisarcıklıoğlu and went on, “However, it needs some finishing touches. I am also quite shocked to see people who are saying that TOBB does not want a new TTK. Everyone knows very well that the institution that supported this bill the most, the one that has the most effort vested in this endeavor to have this bill become a law, is TOBB and I am the one running back and forth between political parties to make it happen.

In order to have the bill pass, which had been waiting at the Assembly for almost 10 years, we visited the Prime Minister, the CHP leader of the time Mr. Baykal and MHP’s leader Mr. Bahçeli together with TÜSİAD, MÜSİAD and TİSK. We urged them to pass the bill through discourse. These visits were made on the 29th of March, 2010.

Near the end of the year, by agreement of the political parties, the commission started its work and the Moratory Law and the Trade Law were passed. I thank the Prime Minister and the political party leaders and ministers who listened to our urgings that day. I believe that our efforts for the swift passing of the 1535 article trade law were instrumental.”

- Why we provided support

Stating that the global economy has been reconstructed after the crisis, Hisarcıklıoğlu said, “Those countries which adapt to the new environment are growing faster, becoming richer. There is significant opportunity. We, however, have a trade law implemented in 1950. If we were to try using this law we’d have been left out in the cold. That is why we supported the law. So that investors could invest in Turkey without fear, so that Turkey produces and provides employment.”

- “The suit prepared for the commercial world with the new Turkish Trade Law is modern and attractive”

TOBB President Hisarcıklıoğlu, stating that the way for the Turkish entrepreneur is open, went on, “We have the legal framework to compete on the same level with our competition and take advantage of opportunities. The suit prepared for the commercial world with the new Turkish Trade Law is modern and attractive. Some parts, however, do not go well with the realities of commercial life. We need to fix these errors by taking the views and suggestions of the business world into consideration.

Do we have absolutely no reservations regarding this law? Of course we do. We have voiced these concerns during the parliamentary steps of the process. We stated that there are ambiguities in the execution and adaptation processes. We were given a word by our government and opposition parties. They wanted a lengthy closing period. We were told to relate the law to the business world, list objections and bring them up before the bill passes so that the law can be amended accordingly. We agreed and now we are relating the law to you; not just now, we started this in the April of last year. Now, as the secondary legislation is being finalized, we will relate to you the changes the law will bring.”

- “Tell us your objections or reservations”

“We want your opinions as traders who work from 8 in the morning to 10 at night,” said Hisarcıklıoğlu and went on, “We have summarized the parts concerning companies in 93 pages and are hosting it on our site. We have also distributed ‘The New Turkish Trade Law and My Company’ throughout Turkey via our Chambers and Exchanges. We have prepared a survey, ‘TTKMETRE’, with Deloitte in order to determine how well prepared our companies are regarding the new Turkish Trade Law. Companies taking the survey will be able to gauge how well they are prepared for the new trade law.

My request from you today is that you listen well. Read our reports, take the TTKMETRE survey. Report your objections and reservations to us. We will gather these objections and relay them to the Minister and relevant authorities. We believe they will take the necessary precautions.”

- The law must be passed in June

Stating that they are working to have the law passed in June, TOBB President Hisarcıklıoğlu said, “All of our efforts are to have the law pass in the month of June, as planned. The ambiguities and the possible shortcomings in the execution of the law will need to be addressed in order for us to be content with the law as a whole. Our goal is to make the necessary changes to the legislation without touching the principles of transparency and accountability which the law is based on. Identifying ambiguities, exceptions and exemptions in the legislation is important for the business world.”

- “Turkey will achieve its 2023 goals thanks to these reforms”

TOBB President Hisarcıklıoğlu continued his speech, “We have removed the prison sentence from the check law. We have adopted the financial punishment for financial crime principle. Why do we say that there are prison sentences in the TTK? Community Surveillance, Accounting and Inspection Standards Institution has only just been established. It has not yet completed its organization. How will reporting standards and inspection essentials for smaller companies be determined, we wonder. The line between transparency and trade secret; the line between accountability and additional paperwork, we wonder if the lines have been drawn wrongly in some places.

We are asking these to you as representatives of the business world. The necessary changes will be determined by the answers you give. I believe that we can do this in a short time. There is just one thing we need for that: Listening to each other. We must be open to dialogue; we must listen to traders and industrialists. The power that will drive Turkey forward will be that of those in this hall. If the businessmen and businesswomen in this hall do not produce, if they do not provide employment, Turkey will miss its opportunity.”

- Customs and Commerce Minister Yazıcı

The Customs and Commerce Minister Yazıcı drew attention to the importance of these meetings and stated that the new Turkish Trade Law will enter into effect on June 1st, 2012.

Stating that the world is rapidly changing, Yazıcı said that since 1957, many things have changed in people’s lives; that electronics are now an inseparable part of everyday life; the internet is almost a must-have in every part of life.

Minister Yazıcı stated that no one should doubt that the law will enter into effect on the 1st of June of 2012 and that opportunity for all participants of commercial life to contribute to the bill design work will be provided.

- Customs and Commerce Ministry Undersecretary Ziya Altunyaldız

Customs and Commerce Ministry Undersecretary Ziya Altunyaldız stated that the new TTK can be seen as the Renaissance of the Turkish commercial field.

Altunyaldız, stating that laws emerge when the people show need for them, said that they want primarily transparency in commercial life from this law and in this regard the law is a success.

After the speeches, Galatasaray University Faculty member Dr. Anlam Altay and Deloitte Turkey Board Member Sait Gözüm made presentations on the matter.

During the last part of the meeting, under the moderation of the TOBB Board Vice President Halim Mete, the Roadmap for Companies panel was held with the participation of the Internal Trade Director General V. İsmail Yücel, Gökhan Alpman and Dr. Anlam Altay.

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