Foreign Trade News from Turkey

EU Commission Decision regarding Customs Duty and VAT-exempt GTIP list on 08.04.2020, numbered 2146

With the decision numbered 08.04.2020-2146 taken by the EU commission,ın order to ensure that people affected by the Covid-19 epidemic can obtain these products and to combat this epidemic the products mostly textile and ready-made garments, can be imported from third countries, exempt from GV and VAT.

To see the list of products in question is included in the annex on the basis of GTIP, pls kindly click

GTIP list of COVID-19 medical consumables prepared by World Customs Organization

COVID-19 medical supplies prepared by the World Customs Organization.

After the corona epidemic, the World Customs Organization prepared a GTIP list for COVID-19 medical supplies; COVID-19 test kits, gloves, masks, glasses, thermometers, disinfectants, medical devices ...

Click here to see the GTIP list.

Note: This list is indicative only. Not official 

International Chamber of Commerce (ICC) releases Incoterms® 2020 10/09/2019

ICC has launched Incoterms® 2020, the newest edition of the renowned trade terms for the sale of goods, providing certainty and clarity to business and traders everywhere.

The Incoterms® rules were first introduced by ICC in 1936 to establish commonly accepted definitions and rules related to the delivery of goods between trading parners worldwide. Since then, ICC has periodically revised the Incoterms® rules to reflect changes in the international trade system. The 2020 edition launches during the organisation’s Centenary year.

More accessible and easier to use, Incoterms® 2020 includes more detailed explanatory notes with enhanced graphics to illustrate the responsibilities of importers and exporters for each Incoterms® rule. The introduction to Incoterms® 2020 also includes a more detailed explanation on how to choose the most appropriate Incoterms® rule for a given transaction, or how a sales contract interacts with ancillary contracts.

Incoterms® 2020 provides for demonstrated market need in relation to bills of lading (BL) with an on-board notation and the Free Carrier (FCA) Incoterms® rule. Incoterms® 2020 aligns different levels of insurance coverage in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid To (CIP). Incoterms® 2020 includes arrangements for carriage with own means of transport in FCA, Delivery at Place (DAP), Delivery at Place Unloaded (DPU), and Delivered Duty Paid (DDP). There is a change in the three-letter name for Delivered at Terminal (DAT) to DPU. Incoterms® 2020 includes security-related requirements within carriage obligations and costs. On the release of Incoterms® 2020, ICC Secretary General John W.H. Denton AO said:

“Incoterms® 2020 rules make business work for everyone by facilitating trillions of dollars in global trade annually. Because they help importers and exporters around the world to understand their responsibilities and avoid costly misunderstandings, the rules form the language of international sales transactions, and help build confidence in our valuable global trading system.”

In line with ICC’s commitment to make technology work for all, access to essential information of the rules will be made easier than ever via a dedicated Incoterms® 2020 mobile application, which includes a wide variety of informative features, including latest news updates, event information and training opportunities.

ICC dedicated training sessions help ensure that the Incoterms® rules are appropriately applied. The ICC Academy, ICC’s dedicated e-learning platform, is offering Incoterms® 2020 training courses, as well as the Incoterms® 2020 Certificate. The online training includes interactive case studies that allow trainees to apply their understanding of the Incoterms® rules by simulating real-life work scenarios. The course content was written by leading experts to ensure consistency with ICC’s standards of excellence.

Incoterms® 2020 is available for purchase through ICC’s e-commerce platform: https://2go.iccwbo.org/. The 2020 edition is available in no fewer than 29 languages — from Estonian to Pashto with ICC’s worldwide network of offices offering translated versions, as well as training sessions and events, to benefit the understanding of users around the world.

Source:ICC Website

Foreign trade gap narrows 76.5% in May

28 Haziran 2019 

ANKARA-Anadolu Agency

Foreign trade gap narrows 76.5% in May Turkey's foreign trade deficit decreased significantly in May, according to the Turkish Statistical Institute (TÜİK) on June 28.

The figure fell 76.5% year-on-year to hit $1.84 billion last month, TÜİK said in a statement.

Turkey's exports went up 12.1% on a yearly basis to nearly $16 billion in May, while imports saw an annual decline of 19.3% to hit $17.8 billion.

The exports-to-imports coverage ratio rose to 89.7% last month, up from 64.6% in May 2018.

Germany was Turkey's top export market by country, receiving some $1.5 billion worth of Turkish goods, or a 9.2% share of total exports.

It was followed by Italy ($857,215), Britain ($853,008), and the U.S. ($784,188).

Russia had the biggest share of exports to Turkey last month, with almost $1.9 billion.

China followed with $1.6 billion, Germany with $1.6 billion, and the U.S. with $1 billion.

Figures in January-May

In the first five months of this year, Turkey's foreign trade balance had a deficit of some $11.6 billion, an annual decrease of 67%.

Turkish exports in January-May rose 4.9% compared to the same period last year to reach $72.7 billion.

Imports totaled $84.3 billion, down 19.3% during the same period.

Turkey's exports to the EU -- making up nearly half of the country's exports -- amounted to $35.7 billion from January to May.

Exports to Asian and African countries, the next-largest export markets for Turkish products, were $18.8 billion and $6.8 billion, respectively.

TÜİK data showed that manufacturing accounted for the lion's share of total exports, at 94.5% or $68.7 billion.

Agriculture and forestry exports ($2.1 billion) got a 2.9% share.