Turkey's Trade Ministry legalized 18 installments for touristic spending to incentivize consumers. The new legal installment limit will be applicable to travel agencies, airlines and hotels.
An opposition deputy criticized Turkey's Trade Ministry's move to increase import taxes on Iranian watermelons by 300 percent. The lawmaker noted that the tax spike also applies to watermelons that are currently being transported, leaving merchants unable to pay for goods that they carried across borders.
Turkey's Trade Ministry had on March 4 subjected cloth mask exports to prior authorization. Trade Minister Ruhsar Pekcan announced on May 13 that the authorities removed this pre-approval requirement for Turkish suppliers to export face masks.
Turkey's Trade Ministry announced a price ceiling of one Turkish Lira for surgical masks for when sale of the commodity begins after monthlong government efforts to distribute it for free. The price ceiling will be in effect starting May 8, when the goods will be on sale in Istanbul.
Turkish Trade Minister Ruhsar Pekcan has deemed the expenses of municipalities run by the ruling Justice and Development Party (AKP) "trade secrets," upon a parliamentary question by main opposition Republican People's Party (CHP) deputy Alpay Antmen. Antmen, in return, said that he didn't ask about anybody's private trade relations. "It seems that there are financial relations that they want to cover up by calling them trade secrets," he added.
Turkey will be using an intricate method of customs inspections that will delay imports, in an attempt to decrease the country’s foreign trade deficit. As exports have dropped significantly during the COVID-19 outbreak, Turkey’s import costs have opened a large budget deficit.
Turkish Trade Ministry has made a number of changes in the customs processes, making bringing gold from abroad easier. The move aimed to prevent the loss of time and money that stemmed from the gold being analyzed in a laboratory.