Union of Chambers and Commodity Exchanges of Turkey

 

He added that TOBB and Deloitte are working on another Project in respect of an internet based survey, for companies to find out how prepared they are for the New Turkish Commercial Code.

 

The application is called the TTKmetre and consists of 44 questions listed under 6 main categories. It will be on the TOBB and Deloitte`s webpage from the beginning of next week. By completing this survey companies will have an understanding of what they need to do for the new Commercial Code requirements. Furthermore, a booklet prepared to facilitate the process of preparation and adjustment of the TCC, will be distributed throughout Turkey.

 

 

M. Rifat Hisarcıklıoğlu has also reminded that after the global crisis, there is a new competition map taking shape in the world. Those countries that adapt and take advantage of the new environment grow rapidly and become affluent. He continued to emphasise, that a new growth thrust needs to be launched that is suitable for this new environment; meanwhile these trusts need to be fully aware of the potential risks as well as the opportunities.

 

Furthermore, he stated that there is a vibrant private sector in Turkey that develops the economy, and provides investment and employment. Therefore, each step, which aims to strengthen the private sector, should become the main item on the agenda. Two main legal regulations, the New Turkish Commercial Code and the New Code of Obligations, which will strengthen the institutional infrastructure of the Turkish economy, have become law in cooperation with the ruling and opposition parties, and these steps can be seen vitally important in this framework. Item 6762 of the Turkish Commercial Code has been in force since 1956. During this time it has not been updated in parallel with the development in the world and Turkish economy, and as a result, it has become insufficient to meet the needs of the Turkish economy.

 

 

M. Rifat Hisarcıklıoğlu continued by saying that commercial life would be dominated by rules governed by international standards. It is vital that the SMEs need to make important preparations in order to adjust to the new era, otherwise those do not make this preparation readily, or delay, will face difficulties in global competition. He also noted that the TCC will also be an important step for e-Turkey and therefore commercial life would largely be rebuilt.

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