04.11.2026 16:20
Trade Minister Ömer Bolat announced that the draft envisaging comprehensive changes to the Wholesale Market Law was submitted to the AK Party group in Parliament. The draft aims to ensure that producer unions and cooperatives take a greater place in wholesale markets and bazaars, that the establishment of wholesale markets is financially supported, and that they benefit from tax exemptions. The draft envisages granting Treasury land free of charge to producer organizations that will establish wholesale markets and introducing an obligation to obtain an authorization certificate for traders operating outside wholesale markets.
The 2027 budget of the Ministry of Trade was discussed at the GNAT Plan and Budget Committee. Minister Bolat provided information to the committee on foreign trade data, export supports, and the draft Market Law.
The GNAT Plan and Budget Committee convened under the chairmanship of AK Party Samsun Deputy Mehmet Muş. At the committee, the 2027 budget of the Ministry of Trade and its affiliated institutions, the 2025 final account, and the Court of Accounts Report were discussed. Minister of Trade Ömer Bolat made a presentation to lawmakers on the Ministry's activities, foreign trade data, developments in exports and imports, trade policies, and the 2027 budget proposal.
“THE SLOWDOWN IN THE WEST NEGATIVELY AFFECTED TÜRKİYE”
Bolat stated that the world economy faced fluctuations created in energy and commodity markets by the Russia-Ukraine War after the production and supply problems experienced during the pandemic, and said that increasing geopolitical uncertainties, trade tensions, and protectionist measures increased pressure on world trade. Expressing that the economic stagnation in Western countries, which are Türkiye's export markets, and the slowdown in trade negatively affected Türkiye, Bolat noted that the war involving Iran, the US, and Israel in the nearby geography also increased risks for the world economy and trade.
“OUR GOODS AND SERVICES EXPORTS HAVE INCREASED 7.9-FOLD OVER THE LAST 24 YEARS”
Bolat said that goods exports, which were 36 billion dollars in 2002, rose to 273.2 billion dollars in 2025, while services exports, which were 14 billion dollars, rose to 124.9 billion dollars. Stating that a record surplus of 63 billion dollars was recorded in the services balance, Bolat reported that annualized goods exports reached 285.6 billion dollars as of October. Bolat spoke as follows:
“Our total goods and services exports have increased 7.9-fold over the last 24 years. According to the foreign trade data we announced yesterday, our monthly exports rose by 8.1 percent to 25.9 billion dollars in October. In September, we had achieved a monthly goods export record of 26 billion dollars with a 15 percent increase. While we increased our goods exports by 15.6 billion dollars over the last year, we increased them by a net 12.4 billion dollars in the first 10 months of 2026. In 31 of the last 42 months, our monthly goods exports increased, and in 24 of them, a monthly goods export record was broken. Especially since April, we have been breaking a monthly export record every month. ”
EXIMBANK’S FINANCING SUPPORT WILL EXCEED 59 BILLION DOLLARS
Bolat stated that in 2026, companies are supported by 220 trade counselors and attachés serving at 167 centers in 114 countries. Saying that Türk Eximbank's financing support, which was 54.3 billion dollars last year, will exceed 59 billion dollars this year, Bolat noted that the share of SMEs among the 18,837 companies benefiting from Eximbank reached 83 percent. Bolat reported that Eximbank's own resources were increased to 216.5 billion liras, and that Türk Ticaret Bankası will increase its financing support, which was 76.3 billion liras in 2025, to 110 billion liras by the end of the year.
Stating that Export Development Inc. (İGE) has provided 297.7 billion liras in guarantees to date, enabling the use of 340.4 billion liras in loans, Bolat said that 70 percent of İGE's guarantee portfolio is allocated to SMEs.
EMPLOYMENT SUPPORT FOR LABOR-INTENSIVE SECTORS
Stating that exporters' daily rediscount credit limit was raised to 5 billion liras and that 1.5 billion liras of this was allocated to labor-intensive sectors such as textiles, clothing, footwear, and furniture, Bolat continued as follows:
“The cost of the rediscount credit is 23.95 percent. In the last 22 months, a total of 1.9 trillion liras in rediscount credits have been extended to our exporters with Central Bank resources, and an interest subsidy of approximately 541 billion liras has been provided. The support, which was launched at 2,500 liras per employee in 2025 to protect employment in the textile, ready-made clothing, and furniture sectors, is being implemented at 3,500 liras in 2026. In 2025, 12.5 billion dollars in exports were realized from the 19 free zones in our country. In the first 10 months of this year, exports of 11 billion dollars were made with a 5.5 percent increase. ”
IMPORTS ROSE TO 380.8 BILLION DOLLARS
Bolat stated that goods imports were 365.4 billion dollars in 2025 with a 6.2 percent increase, and said that annualized imports reached 380.8 billion dollars as of October 2026 with a 5.4 percent increase. Stating that energy imports increased by 10 billion dollars in the first 10 months due to the rise in energy prices, Bolat noted that imports of consumer goods declined by 4.5 percent and a saving of 2.7 billion dollars was achieved.
Bolat reported that 2025 was closed with a foreign trade deficit of 92.2 billion dollars, and that at the end of the first 10 months of 2026, the annualized foreign trade deficit was 95.1 billion dollars. Stating that the export-to-import coverage ratio rose to 75 percent with a 0.2-point increase, Bolat spoke as follows:
“We are determined to protect our domestic production against unfair trade elements. We have 155 anti-dumping and anti-subsidy measures in force. We have 118 measures in force against the circumvention of measures. We do not allow dumped imports to come through other countries either. We have surveillance measures for 192 product groups and safeguard measures for 10 product groups. We also apply additional customs duties on 4,618 products. ”
FTA NEGOTIATIONS WITH CANADA WILL START AT THE END OF NOVEMBER
Stating that TAREKS, the risk-based control system in foreign trade, was renewed with artificial intelligence technologies in 2025, Bolat noted that the number of Türkiye's free trade agreements (FTAs) in force reached 25, and the number of preferential trade agreements reached 7. Bolat reported that FTA negotiations with the United Kingdom, including the services sector, are ongoing, and that talks for a comprehensive FTA with Canada will begin in Türkiye at the end of November.
Saying that the foreign trade volume with Africa, which was approximately 8.8 billion dollars in 2002, reached 41 billion dollars last year, Bolat stated that trade with the Gulf countries and the Middle East has continued since April 15 with the launch of a transit visa regime with Saudi Arabia.
“TRADE WITH ISRAEL HAS BEEN SUSPENDED FOR 2.5 YEARS”
Reiterating that trade with Israel has been completely suspended since May 2, 2024, Bolat said the following:
“We had completely suspended trade with Israel as of May 2, 2024, in terms of our customs, ports, and free zones. This decision has continued with the same sensitivity for 2.5 years. We continue to implement the special mechanism we developed for the urgent needs of the Palestinian government in a controlled manner, with the special approval of the Palestinian and Turkish sides for each product every month. With a circular issued by our Ministry of Transport and Infrastructure, Turkish-flagged ships have been prohibited from going to Israeli ports, and Israeli-flagged ships have been prohibited from entering our country's coastal facilities. In the event that findings contrary to the rules are detected, legal proceedings will be initiated within the framework of the provisions of the Turkish Penal Code. ”
WHAT WILL CHANGE IN THE WHOLESALE MARKET LAW?
Stating that the draft envisaging comprehensive changes to the Wholesale Market Law, which regulates the vegetable and fruit trade and was enacted in 2012, was submitted to the AK Party group in Parliament, Bolat said that with the draft it is proposed to establish producer unions and cooperatives, to give them a greater place in wholesale markets and markets, to provide financial support for them to establish wholesale markets, and for them to benefit from tax and fee exemptions.
The booklet distributed by the Ministry of Trade regarding the 2027 budget also included details of the draft. Accordingly, it is envisaged that the Ministry of Trade be authorized to increase the share of space allocated to producers in neighborhood markets and to producer organizations in wholesale markets from 20 percent to 30 percent. Income tax withholding will be removed from the prices of agricultural products marketed through producer organizations, and Treasury land will be allocated free of charge to producer organizations that want to establish wholesale markets.
AUTHORIZATION CERTIFICATE REQUIREMENT FOR OFF-MARKET TRADERS
According to the draft, the establishment and relocation of wholesale markets will be subject to the permission of the Ministry of Trade, and markets that do not meet minimum qualifications may be closed by the Ministry. In the vegetable and fruit trade, payment periods will be set for all actors, and product payments will be made through banks. Traders operating outside the wholesale market will be required to obtain an authorization certificate from the Ministry of Trade, and a guarantee requirement will be introduced for these persons. The Ministry will also determine the capital requirement and guarantee amount to be sought from in-market and off-market traders.
PENALTY AUTHORITY TRANSFERS TO THE MINISTRY
With the draft, the purchase, sale, and transfer of goods from broker to broker and from trader to trader within the same wholesale market will be prohibited. Penalties for certain acts such as market-distorting actions will be increased, the authority to impose penalties will transfer from municipalities to the Ministry of Trade, and certain new penalties will be added. Those penalized for acts such as stockpiling will not be able to benefit from in-kind and cash support provided by public institutions for 3 years.
Retailers of the qualifications to be determined by the Ministry will be required to purchase a portion, to be determined at no more than 20 percent, of the goods they sell from producers and producer organizations. The Ministry of Trade will also be authorized to provide rent and transportation support for storable vegetables and fruits and to provide incentives to increase storage capacity. The procedures and principles regarding the establishment and operation of roadside inspection stations will also be determined.
THE MINISTRY OF TRADE'S 2027 BUDGET IS 104.3 BILLION LIRA
Minister Bolat stated that the Ministry's 2027 budget proposal totals 104 billion 287 million 271 thousand lira. Of the budget, 65 billion 623 million 131 thousand lira was allocated to current transfers to support the export of goods and services. According to the information provided by Bolat, of the budget, 30 billion 393 million 111 thousand lira was allocated to personnel expenses, 3 billion 345 million 560 thousand lira to Social Security Institution state premium expenses, 3 billion 82 million 506 thousand lira to goods and services procurement expenses, 1 billion 790 million 465 thousand lira to capital expenses, and 52 million 500 thousand lira to capital transfers.
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