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Turkey adopts program to open up new markets for SMEs

17 September 2021 16:42 (UTC+04:00)
Turkey adopts program to open up new markets for SMEs

By Vugar Khalilov

Turkey has adopted the Medium Term Program (MTP) to open up new markets for small and medium-sized enterprises (SME), Yeni Shafak newspaper has reported.

The program, which includes targets for 2022-2024, aims to increase the range of markets for SMEs under the Far Countries Strategy, the report added.

The program envisages developing new support mechanisms by activating the support for service exports, especially the online export.

At the same time, the Far Countries Strategy was determined to increase the range of exports of goods and services and to develop trade with countries that are geographically distant to Turkey with high export potential. In this way, it is expected that many opportunities will emerge in new markets for companies that improve their export capabilities.

Furthermore, many steps will be taken within the MTP program to contribute to the growth of exports. Access of exporters to potential markets and distribution channels will be accelerated through foreign logistics centers.

Under the program, the previous trade and economic relations will be boosted and diversified in line with the entrepreneurial and humanitarian foreign policy. Partnership and expansion policies towards Africa and Latin America and the “Asia Again” initiative will continue to be implemented with concrete targets.

According to the program, the existing preferential trade and free trade agreements, primarily the Customs Union, will be updated and expanded to include service trade and digital trade.

As a part of the MTP program, the working capacity of companies, especially SMEs, will be developed with modern technologies and business models. The efficiency of enterprises will be increased; corporate development projects of SMEs that are competitive in their region or sector and that grow rapidly will be prioritized.

Moreover, the digital transformation projects of SMEs will be supported to accelerate their adaptation to the post-pandemic period.

Turk Eximbank's funding opportunities will be used to meet the export financing needs of companies, especially SMEs and the bank will be restructured to meet these requirements.

In line with the MTP, special programs will be implemented to increase the exports of SMEs, women, and young entrepreneurs. The export-oriented authorized sender system will be expanded to deliver the export cargo to target markets with faster and higher quality logistics delivery. Studies based on machine learning and behavioral sciences will be carried out to ensure the continuity of exports by companies that export intermittently.


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