This content is from: Local Insights

Turkey

Recent developments in the legal field in Turkey include the following:

  • The Capital Market Board has introduced a regulation on gold futures and options traded in the Istanbul Gold Exchange.
  • Parliament has approved agreements on mutual encouragement and protection of investments with Belarus, Pakistan, Lithuania and the Czech Republic.
  • The Ministry of State in charge of foreign trade has issued a regulation on principles and methods applicable in determining export quotas and tariffs within the context of measures to be taken unilaterally or in compliance with bilateral or multilateral agreements.
  • The Council of Ministers has approved the economic cooperation agreement with Bosnia-Herzegovina and agreements with Albania and Macedonia to prevent double taxation.
  • The Council of Ministers issued a Decree allowing importation of used cars and other used items which make a long list, by those persons who, irrespective of nationality, open an account in the Turkish Agricultural Bank, depositing at least Dm50,000 (US$33,000) or its equivalent with a one-year term of maturity.

Dr Hasan Nerad

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