An important issue in the area of foreign trade is the introduction of new "company models", creating a legal environment & organizational basis, which enhances competitive strength of firms.
First step in this direction was the decision regarding "Foreign Trade Capital Companies (FTCC)", introduced in 1984. Main aim of this regulation was to encourage big-sized firms to organize and co-operate in the area of exports. Due to this model, various companies established superior marketing & promotion abilities in the world markets. These firms developed into highly professionalized firms, which led the export boom in the 80s and served as institutions of education & training for future foreign trade executive staffs.
Today the basic legislation, which sets up the legal basis for these companies is the decree (2004/12) related to the status of the foreign trade companies. This decree was published in the Official Gazette dated December 8th, 2004, but was effective on January 1st, 2005.
Within the framework of this decree, candidate firms are obliged to have a paid in capital of 2 million New Turkish Liras and an export performance of 100 million US $ throughout the previous year.
Today there are 50 companies, which have the "Foreign Trade Capital Company status. In 2004, 29.31% of the 63 billion $ total export was performed by these companies.