Export Communique No. 2014/7
Export Communique No. 2014/7, on making sales from free zones to another country eligible for the credit, insurance and guarantee services of Turk Eximbank, has entered into force.
The Communique on Making Sales from Free Zones to Another Country Eligible for the Credit, Insurance and Guarantee Services of Turkiye Export Credit Bank Inc. (Export: 2014/7) was published in Official Gazette No. 29188 dated 27.11.2014 and entered into force.
What Does the Communique Introduce?
The regulation sets out the procedures and principles for making sales from free zones to another country eligible for the credit, insurance and guarantee services offered by Turkiye Export Credit Bank Inc. (Turk Eximbank). Sales abroad by companies operating in a free zone can therefore now be assessed in terms of export finance instruments.
What It Means in Practice for Companies
Export finance is a decisive factor in managing the cash cycle, insuring buyer risk and reducing the uncertainty that arises when entering new markets. Access to credit, insurance and guarantee instruments has a direct effect on the pace of growth, particularly for companies making high-value sales on deferred payment terms. The ability of companies based in a free zone to use these instruments is one of the elements that strengthens the export-oriented character of the zones.
Application and Implementation
Which transactions fall within scope, and the required documents and limits, are determined within the framework of the relevant bank's practices and the legislation in force. Companies are therefore advised to confirm the conditions specific to their own situation before entering into a transaction. Involving accounting and finance teams in the process from the outset speeds up the flow of documentation.
An Export-Oriented Structure at ISBI
The Istanbul Specialized Free Zone brings export-oriented software, IT and advanced technology companies together in a single ecosystem. The infrastructure and administrative process support offered in the zone helps companies manage their international sales operations more predictably.
Note: This content has been prepared for information purposes only; in practice, the legislation in force and official announcements apply.
About ISBI and the Istanbul Specialized Free Zone
The Istanbul Specialized Free Zone brings together infrastructure, logistics and operational conveniences for companies engaged in software, information technologies and advanced technology manufacturing. For how the zone works and the opportunities it offers, see our Free Zone page; for the steps of the investment process, our Investment page; and for the support we provide, our Services page. Information about our corporate structure can be found on the About Us page.
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