Sectoral Foreign Trade Companies (SFTC) of Türkiye |
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In the 90’s, attention focused on Small and Medium Sized Enterprises
(SME’s). Flexibility and innovative capacity of these kinds of firms offered
competitive advantages in context of global challenge. Nearly 99 % percent of
industrial companies in Türkiye are SME’s. They account for 53 % of employment
and 38 % of GNP. These firms respond quickly to structural changes and adapt
easily to changing demand.
In order to orientate these firms toward global markets, the Undersecretariat
for Foreign Trade created a system known as "Sectoral Foreign Trade
Companies (SFTC)". This organizational structure, encourages SME’s in
their ambition to open to the outside markets and engage in foreign trade
activities. Main element of this new model is to create a framework in which
certain numbers of SME’s come together and form a new joint company.
Legislation regarding SFTC was put into effect in December 1996.
Under current legislation; each companies share is limited to 10 percent of
the total capital of SFTC.
Founders may be granted the status of STFC for if they fulfill the following
requirements :
- TL 10 billion initial capital,
- No more than 200 staff,
- Companies must be in the same sector,
- At least 10 partners as founder,
For the Developing Regions, share for each company is limited to 20 percent.
Sectoral Foreign Trade Company Status can be obtained if the founders fulfill
the requirements below:
- TL 5 billion initial capital,
- No more than 200 staff,
- At least 5 partners as founder
Today, 31 SFTC’s are in operational status.
You may follow
this link to see the list of companies, which have the "Sectoral Foreign
Trade Company” status.
(Source: Undersecretariat
of the Prime Ministry for Foreign Trade Web Site)