Ministry Enforcement for Firms to Bring Export Price to Turkey

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The Ministry of Treasury and Finance has released a notification on the Official Gazette on protecting value of Turkish lira. The notification will be put into effect today (September 4) and will remain in effect for six months.

According to the notification, bringing the export price to the country won’t exceed 180 days and at least 80 percent of it will be sold to a bank.

Price of the export by contracting firms will be brought to the country within 365 days and will be sold to a bank.

The export prices will be able to be brought to Turkey by Turkish lira or foreign currency. In return for the export made by Turkish lira, foreign currency will be able to be brought.

Banks will monitor the process

The banks that mediate export will be responsible for export prices to be brought to the country and monitor its sale, according to the notification. (HA/TK)