Ministry of Economy (known as Ministry of Trade, Turkey)

The Ministry of Economy (Turkish: Ekonomi Bakanlığı) is a government department responsible for the economic affairs of the Republic of Turkey. It was established following the 2011 general election with Justice and Development Party (AKP) Member of Parliament Zafer Çağlayan being appointed as the first Minister of the Economy.

The main tasks of the Ministry of Economy (former Undersecretariat of the Prime Ministry for Foreign Trade) are as follows:

• Determining main policies and targets concerning foreign trade in goods and services.
• Taking due precautions in order to structure the economic activities in harmony with export oriented production policies.
• Taking all kinds of measures regarding foreign trade in goods and services with a view to conduct those activities in favor of national economy.
• Taking due precautions in an effort to diversify product and market structure with the purpose of increasing Turkey’s share in world trade and ensuring sustainable growth in export.
• Taking all kinds of necessary measures in import in favor of national economy within the boundaries of international obligations.
• Conducting Turkey’s bilateral, regional and multi-lateral economic relations with foreign countries and international organizations.
• Taking all the necessary measures to attract foreign direct investments to Turkey.
• Taking due precautions in order to provide effective regulation of the investment incentives in favor of national economy.
• Ensuring the safety and compliance of the products subjected to foreign trade with regulations and standards and making import and export inspections for this purpose.
• In relation to product safety, technical regulations and inspections, coordinating the provisions of legislation and their implementation.
• Conducting Turkey’s relations with the EU and carrying out the alignment of Turkish legislation with that of the EU’s, on trade issues.