“The cost of trade will decrease in Turkey”

TIM Chairman BUYUKEKSI has assessed “The Agreement of Trade Facilitation”

“The cost of trade will decrease in Turkey”

Chairman of the Turkish Exporters' Assembly, Mehmet BUYUKEKSI stated that with the Trade Facilitation Agreement” which entered into force on 22 February 2017, it is expected that 112 countries including Turkey will benefit from a decrease in the costs of trade by 14 percent, and as a result of which global trade will expand by 1 trillion dollars.

Mr. BUYUKEKSI stated that this Agreement will ease regulations on global trade and customs procedures. He also added that the leading economies, including USA, European Union, China and Turkey will benefit from the Trade Facilitation Agreement.

Mr. BUYUKEKSI touched upon the significance of reducing obstacles on trade in Turkey and further said: “The most significant problem that our exporters have encountered are the costs of customs and logistics. Our exporters deal with non-tariff barriers and redundant procedures in many countries which take ages and increase costs in many countries. Besides, obsolete customs and port capacities are also pushing up the cost of trade.”

“Single Window System” will expedite the custom procedures.

Mr. BUYUKEKSI also shared his views on the “Single Window System”. He said: “The Ministry of Economy and the Ministry of Customs and Trade are working on significant projects in order to reduce the costs of customs and logistics. The Commission of Trade Facilitation has recently been established under the co-presidency of the undersecretaries of the previously-mentioned Ministries. We especially hope that custom transactions will be expedited and trade costs will be reduced for our exporters. We believe that Turkey is going to fulfil its international responsibilities and make global trade transactions faster and more effective along with further development of our ports and modernization of our custom procedures in the upcoming days.”