AUTONOMOUS BODIES
Autonomous Bodies are established in order to regulate and monitor different types of markets in accordance with the requirements of a functioning market economy. The Bodies have both administrative and fiscal independency. Some of the important entities in Turkey are the Competition Authority, the Energy Market Regulation Authority, the Banking Regulation and Supervision Authority; Telecommunication Authority and the Tobacco, Tobacco Products and Alcoholic Beverages Market Regulation Board.
1. Competition Authority
Competition Authority (CA) is responsible for the full achievement of competition in the markets. Main responsibilities and powers of the Competition Authority are:
a. To carry out the examination, inquiry and investigation into activities and official transactions defined in Competition Code upon application or upon its own initiative; to take the necessary measures to expunge infringements of the Code; and to impose administrative regulations
b. To evaluate the requests for exemption and to grant an exemption certificate to the appropriate agreements which may distort competition
c. To constantly follow the markets to which exemption decisions and negative clearance certificates are related, and to re-evaluate the applications of those in case changes are established in these markets or in the positions of the parties
d. To evaluate mergers and acquisition activities and approve them according to determined criteria
www.rekabet.gov.tr
2. Energy Market Regulatory Authority
Energy Market Regulatory Authority (EMRA) regulates and controls the energy market. The Authority ensures its independent duties in order to provide sufficient energy sources to consumers at high quality and at low cost, in a reliable and environmentally friendly manner. The main responsibilities of Energy Market Regulatory Authority are;
a) To regulate and monitor the Electricity, Natural Gas, Petroleum and Liquid Petroleum Gas markets,
b) To establish a financially viable, stable and transparent energy market within a competitive environment.
www.epdk.gov.tr
3. Banking Regulation and Supervision Agency
Banking Regulation and Supervision Agency (BRSA) safeguards the rights and benefits of depositors; prevents all kinds of operations and transactions that may risk the orderly and safe operation of banks or that may harm the economy; facilitates the efficient working of the credit system. The main goals of the Agency are as follows:
a) To enhance the efficiency of the banking sector and its competitiveness
b) To maintain confidence in the banking sector
c) To minimize potential negative effects of banking sector on economy
d) To improve the stability of the banking sector
e) To protect the rights of depositors
www.bddk.org.tr
4. Capital Markets Board of Turkey
Capital Markets Board of Turkey (CMB) is the regulatory and supervisory authority in charge of the securities markets in Turkey. Empowered by the Capital Markets Law (CML), which was enacted in 1981, the CMB has been making detailed regulations for organizing the markets and developing capital market instruments and institutions for the past nineteen years in Turkey. Based on the main objectives of fair and orderly functioning of the markets and protecting the rights of investors, the CMB has a wide range of responsibilities.
Depending on the development stages of the markets and the state of the country's economy, the list of priorities changes from time to time. However the major objective remains the same: to take the necessary measures for fostering the development of capital markets, and hence to contribute to the efficient allocation of financial resources in the country while ensuring investor protection. Its mission is to make innovative regulations, and perform supervision with the aim of ensuring fairness, efficiency and transparency in Turkish capital markets, and improving their international competitiveness.
The CMB implements the duties vested by the Law with due diligence. The CMB is authorized in and responsible for the following areas:
a) Regulation and supervision of the securities markets and institutions,
b) Determination of the operational principles of the capital markets,
c) Protection of the rights and interests of the investors.
www.cmb.gov.tr
5. Telecommunications Authority
Telecommunications Authority undertakes the regulation, the authorization, the reconciliation and the supervision of activities within the telecommunication market. The main responsibilities of the Authority are:
a) To prepare the required plans in the telecommunications area and present them to the Ministry of Transportation,
b) To observe the developments in technology of the telecommunications area in cooperation with the universities and private establishments,
c) To observe, control, examine and evaluate the telecommunication implementations,
d) To give opinions on the concession contracts to be signed for telecommunication services and/or infrastructure,
e) To define the general criteria on price tariffs, contract provisions and technical issues to be implemented for the users of the telecommunication services and infrastructure, and other operators for their use of interconnections between the telecommunication networks,
f) To define and implement the performance standards considered as a basis for telecommunication items,
g) To take the required measures to protect the consumer rights.
www.tk.gov.tr
6. Tobacco, Tobacco Products and Alcoholic Beverages Market Regulation Board
Tobacco, Tobacco Products and Alcoholic Beverages Market Regulation Board (TAMRB) establishes regulatory and supervisory systems in areas dealing with tobacco, tobacco products, alcohol and alcoholic drinks. The main responsibilities of the Board are as follows:
a) Regulation and supervision of tobacco production; granting of permission for the import of tobacco seeds; issuing of authorization to trade in tobacco; regulating, monitoring, and supervising tobacco producers on the basis of a written contract; and buying and selling of tobacco products by public auctions
b) Granting permissions for setting up tobacco processing plants, controlling their production, movements, handovers, and closures; monitoring of tobacco stocks and warehouses; and the granting of compatibility permissions to tobacco warehouses
c) Supervision of companies operating within the sector
d) The granting of production permits, sales permits as well as granting permission to establish factories aimed at producing tobacco products
e) Regulating the market in Ethyl Alcohol, Methanol, Distilled Alcoholic Drinks, and Fermented Alcoholic Drinks; preparing national regulation policies; and harmonizing with the EU regulations
www.tapdk.gov.tr
7. Privatization Administration
Privatization Administration does not show the main characteristics of the above mentioned market regulating autonomous agencies. However, as an independent administrative body fully responsible for privatization in Turkey, it has a very high importance for the direct investors. The Privatization High Council and Privatization Administration are responsible for carrying out privatization transactions in Turkey. The main responsibilities of the Administration are:
a) To decide which enterprises meet the criteria for inclusion in the privatization process,
b) To prepare enterprises for privatization in both fiscal and legal matters,
c) To determine a timeline for the completion of privatization procedures,
d) To prepare the privatization process of enterprises which have been deemed suitable,
e) To decide on the privatization methods required for selected enterprises,
f) To decide on scaling down methods for enterprises that are already in the process of privatization,
g) To conclude the activities of enterprises either temporarily or permanently, which are already in the process of privatization,
h) To make a decision about the possible liquidation of companies in the privatization process.
www.oib.gov.tr
RESEARCH AND DEVELOPMENT ACTIVITIES
1. TÜBİTAK
In Turkey, public institutions and universities play an important role in R&D activities. The Scientific and Technological Research Council of Turkey is the public agency in charge of promoting, developing, organizing, conducting and coordinating research and development in different fields of natural sciences. This research is in line with the national targets for economical development and technical progress. The Council also makes important contributions to the relations between universities and industries.
The institution provides certain incentives in order to increase the scientific and technological competitiveness of Turkey; develop methods to rapidly transform scientific research into technological innovations; and provide an active contribution from the private sector into research and development.
www.tubitak.gov.tr
2. TTGV
The Turkish Technology Development Foundation was set up to raise the industrial sector's awareness of R&D and to support technological development projects in the Turkish Industry through the funds provided by the Under Secretariat of Treasury from the resources of the World Bank. This Foundation continues its activities as a successful example of Private and Public Sector cooperation. In this respect, the Foundation promotes the R&D activities of the industrial sector; contributes to the creation of the necessary infrastructure for technology to produce a commercial and marketable product, system or service; provides financial support; and undertakes studies aimed at improving the legislative and institutional framework for R&D.
www.ttgv.org.tr/
3. KOSGEB
Another institution, which conducts R&D research in Turkey, is the Small and Medium-sized Industry Development Organization (SMSIDO - KOSGEB). KOSGEB is focused on helping small and medium-sized industrial companies to adapt quickly to technological innovations; increasing their competitiveness and contributions to the economy; as well as improving their efficiency.
www.kosgeb.gov.tr