THE NEW TURKISH COMMERCIAL CODE IS BOON FOR BUSINESS
February 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
THE DEVELOPMENT of commercial legislation in Turkey has not kept pace with the country's blistering economic growth over the past decade. While structural economic reforms have been carried out, a foreign investment law passed, and GDP levels have more than tripled since 2002, Turkey has been slipping down the ranks in the World Bank's 'Ease of Doing Business' report, dropping five places in 2011. A key factor was Turkey's outdated Commercial Code, which was enacted in 1956, and the fact business has been kept waiting for a new ...
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