With the new regulation on the Inward Processing Regime, processing periods have been shortened and a requirement that at least 25% of inputs must be sourced domestically has been introduced for products used in exports. Given Turkey’s rising production capacity and increasingly varied steel grades, the new regulation does not pose any obstacle for exporting firms; rather, it will increase demand for domestic production. In recent years, Turkey’s steel producers have made large investments, and Turkey remains self‑sufficient both in the volume of steel production and in the diversity of steel qualities.
OYAK General Manager and Erdemir Chairman of the Board Murat Yalçıntaş, evaluating the Trade Ministry’s rule protecting domestic production as a positive step for the sector’s future, stated: “The future of Turkish industry lies in strengthening our domestic production capacity. Together with our group companies, we are steadfastly pursuing investments that shape our country’s industry. With this new regulation put into force by our Trade Ministry, the balance of the domestic market in the steel sector will be preserved, and the added value our country produces will remain inside. In this way, the future of the steel sector — one of our strategic industries and a foundation for many others — will be secured.”
Emphasizing that supporting domestic producers in the face of unfair competition is important both for steel and other related sectors, Yalçıntaş said: “The new regulation by the Trade Ministry will also positively affect the foreign trade balance, by shortening the time between currency outflow due to imports and currency inflow from exports. It will support domestic producers and prevent unfair competitive conditions. With an increased demand for domestic steel, our capacity utilization rates will rise, the way will be opened for more investment, and most importantly, Turkish industry will gain strength.”
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