Recent Development According to the Presidential Decree No. 476 published on the Official Gazette dated 19 December 2018 (“Presidential Decree“), payments made for advertising services provided through the Internet to the providers of this service or to those who act as an intermediary for the provision of this service will fall within the scope of…
Recent Development The Turkish Parliament enacted a law amending the composition (tr. “konkordato,” a Turkish scheme of arrangement) articles in the Code of Enforcement and Bankruptcy in response to widespread abuse of the composition proceedings. The changes are effective as of the date of promulgation on the Official Gazette, 19 December 2018, with pending applications remaining…
BUENOS AIRES, Nov. 30 (Xinhua) — Chinese President Xi Jinping called on China and Turkey to strengthen cooperation and share development opportunities when meeting with his Turkish counterpart, Recep Tayyip Erdogan, here on Friday. The two leaders held talks on the sidelines of the Group of 20 (G20) summit in the Argentine capital. Pointing out…
From 30 September to 2 October 2018, the Reanda International Beijing headquarters team of three led by Chairman Mr. Huang Jinhui visited Turkey to meet with government officials as well as representatives of Chinese business chamber and enterprises in Turkey together with Reanda Turkey partners. In the afternoon of 30 September, the Reanda delegation and…
Q: In your words, how would you describe the Belt and Road Initiative? We would like to hear from you the vision behind this initiative. A: The Belt and Road Initiative (BRI) is not a plan, but instead a vision itself.The scope is immense: BRI encompasses 65% of the world’s population and %40 of global…
Anybody who hasn’t been living under a rock these past few weeks knows that Turkey is undergoing a serious financial crisis. Turkish Lira has lost about 30% of its value against the US dollar since the beginning of the year and especially after the escalation of tensions with the United States and the Trump administration’s…
According to the Accountancy Age Top 20 International Network 2017 survey, Reanda International was ranked 20thamongst the international accounting network. Currently, Reanda International is represented by 30 network firms with more than 120 offices and 3000 professionals, with a global aggregate fee income of USD179 million. In the coming 2018, Reanda International shall keep the…
Reanda International hosted the first ever European regional meeting on 2 May 2018 in Reanda UK’s new office, participated by a total of 17 partners and personnel from 7 European network firms across Cyprus, Italy, Malta, Portugal, Romania, Turkey and UK along with two Asian network firms from Hong Kong, Australia as well as the…
Çin Kamu Diplomasisi Derneği’nin düzenlediği Çin gezisinin ikinci ayağında ülkenin güneyinde yer alan Yunnan eyaletinin başkenti Kunming’e geldik. 48 milyon nüfusa sahip olan Yunnan’da yaklaşık 7 milyon kişi Kunming’de yaşıyor. Yunnan’ın en büyük özelliklerinden birisi ise 26 farklı etnik gruba ev sahipliği yapıyor olması. Yunnan etnik çeşitlilik açısından Çin’in en zengin bölgesi. Ekonomiye baktığımızda, Yunnan’ın…
1. Introduction Steel imports from the People’s Republic of China (“PRC”) take a vast majority of the Turkish market staring from 2015. Due to its relatively low prices, dumping investigations against the PRC have been initiated in various jurisdictions around the world, including USA, EU, Indonesia, Thailand, South Africa, Brazil, Taiwan and Turkey. Below we…
1. Introduction For the past few years, Turkey has tended to use various trade remedy tools more frequently, thus the number of investigations increases in depth and breadth with the aim of supporting domestic industry through its protectionist approach. Whilst ranked seventh among 43 WTO members as user of anti-dumping measures between 1995 and 2014,…
1. Introduction The European Commission (“Commission”), being quiet active between the last week of June and first week of July 2017, initiated trade remedy investigations (i.e. anti-dumping and expiry review) against various countries, including Turkey. In particular, the Commission launched an anti-dumping investigation concerning Turkey’s exports to the EU and a trade barrier examination concerning…
1. Introduction The Turkish Ministry of Economy (“Ministry”) frequently intervenes in cases where imports take place at the expense of domestic industry. This focus on foreign firms exporting to Turkey often leads the Ministry to adopt trade barriers, such as the so-called anti-dumping measures or safeguard measures. We thus have chosen to highlight communiqués and…
1. Introduction The recent developments in the case law have led the trade remedy law practitioners to bring the Turkish Ministry of Economy’s (“Ministry”) approach towards the implementation of the “lesser duty rule” to their agenda. There are deep concerns and raising voices of the interested stakeholders from both sides (domestic industry and foreign traders)…
On 17 August 2017, the Council of Ministers enacted the Additional Decision to Import Regime Decision No. 10561 and the Additional Decision to Import Regime Decision No. 10580 (together referred to as “Decisions“). The Decisions set forth additional customs duties that shall be taken in respect to the imports of the goods falling under the…
The Ministry of Economy of Turkey (Ministry) lifted the customs supervision charges on imported chairs which were in place since 10 January 2007. Customs supervision charges are one of the safeguard measures Turkey is entitled to impose on imported products in order to protect the national industry/producer. Customs supervision charges allow the Ministry to levy…
Upon the complaint submitted by the largest national producer of toothbrushes, the Turkish Ministry of Economy examined the import volume of such product and determined that the product subject to investigation is being dumped on the Turkish market. On 22.04.2017 the Turkish Ministry of the Economy (“Ministry”) launched an investigation against the imported toothbrushes (classified…
1. Introduction It is a common practice that companies become familiar with competition law and aware that they are violating competition rules only once they are faced with the investigation and fines imposed on them by the Competition Authorities for the breach of those rules. An effective competition compliance program (“CCP”) may help companies to…
I personally observe that the managing staffs of companies are becoming highly aware of competition law but this awareness is frequently related to the great label it holds as ‘something of a great threat to my career’. The principal objective in delivering this piece is to clarify the key aspects of competition law through its…
In July 2017, the European Commission (EC) launched investigations into alleged breaches of EU merger procedural rules by Merck and Sigma-Aldrich, General Electric, and Canon, in particular by providing incorrect or misleading information by the first two companies; and by implementing a merger before notification and clearance by the latter company. This is just another…
The USD 122 million fine imposed on 18 May 2017 by the European Commission on Facebook for providing inaccurate information about WhatsApp 2014 acquisition serves as a loud reminder for business that non-compliance with any aspect of competition/merger rules – including obligation to provide information – may be rather costly. Background In its notification back…
Introduction In the era of digital markets, the growing importance of Big Data1 is undeniable. “The rise of new businesses models based on the collection and processing of Big Data is currently shaping the world.”2 Indeed, the Big Data phenomenon has not only changed the way businesses conduct their economic activities, but also presented new…
Introduction The Turkish Competition Authority (the “TCA”) amended the Communiqué governing the Turkish merger control implementation (Communiqué No. 2010/4 on Mergers and Acquisitions Requiring the Approval of the Competition Board (“Communiqué”)) on February 24, 2017. While there is no change to the currently applicable notification thresholds, the amendments concern the regime for successive transactions as…
