Free zones in Türkiye make big contribution to foreign trade

ANKARA

The size of trade at Türkiye’s 19 freezones stood at $13.3 billion in the first half of 2024, data from the Trade Ministry have shown.

Free zones are also an important source of employment. According to the numbers of the ministry, 95,600 people were working at those sites as of June.

The trade traffic from other parts of the country into the free zones amounted to $1.9 billion, while the size of trade in the other direction was $5.97 billion.

The size of trade from abroad to free zones and the other way around were $3.75 billion and $5.97 billion, respectively.

Türkiye’s total foreign trade volume, exports and imports included, stood at $292 billion in January-June. Exports rose 2 percent annually to 125.5 billion, while imports fell 8.5 percent to $169 billion.

The most active industries in the free zones were services, software, ship and yacht building, ship maintenance, medical equipment, ready-wear, leather and R&D.

Free zones, which are special sites within the country that are deemed to be outside of the customs territory, have been active in Türkiye since 1985.

Those sites were created to more convenient and flexible business climate in order to increase trade volume and export for some industrial and commercial activities as compared to the other parts of the country, according to information on the ministry’s website.

All fields of activities open to Turkish companies are also open to joint ventures of foreign companies.

The revenue and earnings from free zone activities can be freely transferred to Türkiye or abroad without any permission.

Since free zones are part of the Türkiye-EU Customs Territory, the goods in free circulation can be sent to the EU Countries.