Last updated: 24 Sep 2013
Business risks
Australian companies are advised to spend time investigating the market, obtain professional advice where appropriate and thoroughly investigate the issues in entering the market and establishing business relationships.
Australian firms wishing to operate in this country should commit to the highest level of corporate behaviour and familiarise themselves with Australia's law and penalties pertaining to bribery of foreign officials.
Bribery of foreign public officials is a crime. Australian individuals and companies can be prosecuted in Australia for bribing foreign officials when overseas. Further information on the regulations governing bribery of foreign public officials is available.
For further information on frauds, scams, personal and asset security, intellectual property protection and other business risks please visit www.austrade.gov.au/Legal-issues/default.aspx
Intellectual property protection
Turkey's intellectual property rights regime has improved in recent years, but certain deficiencies from international standards remain a concern.
Turkey has issued a new copyright law, which provides deterrent penalties for copyright infringement. Anti-Piracy provisions are an important part of the new law. Pirated materials, especially CDs and books, are still available but there are more cases and more deterrent penalties for the producers and sellers of these materials.
Turkey is a signatory to a number of international conventions, including the Stockholm Act of the Paris Convention, the Patent Cooperation Treaty, the Strasbourg Agreement, and the World Intellectual Property Organisation (WIPO) Copyright Agreement and Performances and Phonograms Treaty.
Dispute resolution
Turkey's legal system has written commercial and bankruptcy laws and provides means for enforcing property and contractual rights. The court system can be slow to make decisions and is often overloaded, so having a case finalised can sometimes take quite long.
Turkey is a member of the International Center for the Settlement of Investment Disputes (ICSID), and is a signatory of the New York Convention of 1958 on the Recognition and Enforcement of Foreign Arbitral Awards. Turkish law accepts binding international arbitration of investment disputes between foreign investors and the state.
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.