The Communiqué Regarding the Amendments to the Communiqué on Principles of Real Estate Investment Companies (“Communiqué”) has been published in the Official Gazette dated 17.01.2017 and numbered 29951 and entered into force at the date of its publication (“Amendment Communiqué”).
The most significant agreement prepared to create a uniform universal sales law is United Nations Convention on Contracts for the International Sale of Goods, also referred to as Vienna Convention (“CISG”), dated 11 April 1980. CISG has entered into force on 1 January 19881, has been accepted without any reservation and has become applicable in Turkey as of 1 August 20112. In brief, CISG comprises of provisions regarding the establishment, performance and expiration of agreements relating to the international sale of moveable goods.
Prime Ministry Circular No. 2016/27 on Trade Facilitation Board ("Circular") has been published with the Official Gazette dated 03.12.2016. The Circular stipulates a process involving many public institutions and establishments with regard to the adoption of measures to enhance the competitiveness by improving the international trade infrastructure.
On July 15, 2016, the streets of Istanbul and Ankara erupted in violence during a surprise – and ultimately unsuccessful – coup d’etat attempt against the Turkish government and Turkish President Recep Tayyip Erdogan. By the time the coup had been put down, over 300 people had been killed and more than 2,100 were injured.