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Free Zones In Turkey
Cross-Road Of
Business Opportunities
The Turkish
Free Zones in Review
The reform of
the Turkish Economy and an overall change in economic philosophy
were realized at the beginning of 1980 through the comprehensive
economic stabilization and structural adjustment program based on
free market principles and the introduction of outward-oriented
economic policies.
Turkey is a
stable country with a unique geographical location. With the
introduction of new economic policies in the early 1980's, Turkey
has had three objectives: More liberalization, more security
especially for foreign investors, and less bureaucracy.
Within this
economically and politically positive atmosphere in Turkey, the Free
Zones Law (no 3218) was enacted on June 6, 1985. After this date,
operational activities in Antalya,
Mersin,
Izmir-Aegean, Istanbul-Ataturk Airport,
Trabzon and
Istanbul Leather Free Zones have been successfully launched.
Furthermore, the location and boundaries of the Adana-Yumurtalik,
Istanbul-Trakya, Zonguldak-Filyos, Mardin, Eastern Anatolia Free
Zones and Istanbul Ataturk Airport Free Zone Off-Shore Banking
Center have been determined.
As of the end
of October 1994, the total volume of trade within these six free
zones has exceeded US $ 4.3 billion. US $ 1.586 billion, an increase
of 99 percent during this same period in 1993, realized in the first
ten months of 1994.
The
establishment and operation of the Free Zones have been realized
within the framework of the "Build-Operate and Transfer" model.
According to this model, in the Antalya and Mersin Free Zones the
Government has provided the land and has taken the responsibility
for the construction of the infrastructure. Financing of the
superstructure in these two Free Zones was met by the private
sector. Experience reveals that the financing of the superstructure
by the private sector is preferred. Accordingly, both the
infrastructure and superstructure of Aegean, Istanbul-Trakya,
Trabzon, Adana-Yumurtalik and Istanbul-Leather Free Zones, by
private sector operators or founder-operators, are governed by the
Council of Ministers' Decrees. The private sector companies which
have founded and are operating the Aegean, Adana-Yumurtalik and
Trabzon Free Zones are enterprises with a substantial share of
foreign capital shares in these companies are 96.4 percent, 25.0
percent and 94.0 percent , respectively.
Turkey's
strategic location provides excellent access not only to its
traditional trading partners in the Middle East and Europe, but also
to the newly emerging Republics of Eastern Europe, the nations of
the Commonwealth of Independent States and the Central Asian
Republics, as well as to the domestic Turkish market of 60 million.
Turkish free
Zones cover an area of 370 hectares. Investors are free to construct
their own premises; Zones also have available office space,
workshops and warehouses on rental bases with attractive terms.
In Turkish
Free Zones, all kinds of industrial (except Istanbul Ataturk Airport
and Trabzon Free Zones), commercial and service activities such as
manufacturing, storing, packing, general trading,
assembling-disassembling, banking and insurance are conducted.
Main Scope of
Production:
- Electronic
appliances and accessories;
- Optics;
- Ready-made
garments, leather clothing and textiles;
- Processed
foods;
- Spare
parts and complementary products for automotive and aviation
industries;
- Chemicals.
For further
information:
Aegean Free Zone
Antalya Free Zone
Istanbul Ataturk Airport Free Zone
Istanbul Leather Free Zone
Mersin Free Zone
Trabzon Free Zone
Tax-Free Business!
Applying for a License
Free Zone Contacts
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