Conflicts in the region and the ongoing political turbulence are increasing concerns in Turkey. "This is not good," sighs Cerrahoglu Partner Sezin Dundar. "Our clients, especially foreign investment companies are closely monitoring the situation. This could affect the economy in the long run."
In May, 2019, the Agency had announced the Draft Regulation on Sales, Advertising and Promotion of Medical Devices, expected to replace the Regulation on Sales, Advertising and Promotion of Medical Devices (“Regulation”), by expressing that the Regulation required an amendment as a result of practical matters presented during the implementation of the Regulation and the current needs of the sector. The draft regulation was not enacted to this date, and instead, on January 28, 2020, the Agency announced the Draft Amendment Regulation on Sales, Advertising and Promotion of Medical Devices (“Amendment Regulation”)1 which will amend the Regulation itself. The Agency has invited comments from concerned parties until February 3, 2020.
Paksoy has worked alongside global counsel Winston & Strawn in advising Danfoss A/S, a Danish manufacturer of heat transfer solutions, on its USD 3.3 billion acquisition of Eaton Corporation’s hydraulics business. Gibson & Dunn reportedly advised Eaton on the transaction, which remains subject to regulatory approval and is expected to close by the end of 2020.
The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade (“Ministry”). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.