Minister of Trade Ruhsar Pekcan spoke about recent amendments to Law No. 7246 on the Protection of Competition, which were published in the Official Gazette on June 24.
Explaining that the changes made to the Competition Law brought it into harmony with the European Union and advanced practices, Pekcan also said “With this regulation, Turkey's Competition Law has been provided with a structure that can better meet the needs of our dynamic market. The Competition Authority has also been made more effective, active, and dynamic. Also, the way to attract more foreign direct investments into Turkey has been paved."
Minister Pekcan pointed out that it is possible to implement contracting and reconciliation procedures with the new regulation. "With this regulation, firms will be able to make commitments or compromise with the Competition Authority in the case of a possible violation of competition," she added.