In order to fully support the term “Digital Company”, the Turkish government has implemented steps and made huge reforms into their system. According to these reforms, Turkish law permits firms to use digital documents and emails in lawfully required capacity.
The digital revolution is imminent, and it is being powered by today’s hyper-connected world. It is creating new proficiencies, new products and services, new results, new business, and revenue models, and an explosion of data from new and emerging technologies and Turkey must have to keep up with the world and implement digital changes to their industry.
With a population of more than 80 million, 68 percent of whom are at working age; a high growth performance as well as a trading volume nearing 400 billion dollars; Turkey has instigated new strategies in their trading sectors in this digital age.
Digitization of Turkish Economy
Since 2012, the business-to-consumer (B2C) e-commerce volume has increased by an average of more than 20 percent annually in Turkey and it is One of the most obvious fields that our digital age manifests itself in is e-commerce, which continues to grow steadily.
With the digitization process in running, it is time for Turkish companies to effectively use e-commerce opportunities domestically as well as for foreign trade. With Turkey being a crossroad-country; Turkey has great potential for serving as a logistics hub with respect to e-commerce.
Trade-Related Strategies Towards Digitization
The adaptation to e-commerce is very important and it is the policy agenda of the Turkish Ministry of Trade. Incorporating an enhanced level of digitalization is one of the key priorities of Turkish ministry and domestic commerce infrastructure to customs procedures is their primacy.
Digitization in a trade relationship with Customs Union partner, the EU, to where Turkey exported about 84 billion dollars of products in 2018 needs cooperation since many documents need to be verified and recognized in cross-border custom.
By introducing “MERSIS”, Turkish ministry is now able to monitor and manage all kinds of company procedures—from registration to successive legal performances—electronically. This network eases the formal workload of companies and enhances coordination among different ministries and branches of the government with respect to domestic trade.
It is the need of the hour to capitalize on such developments brought by technology and globalization as Turkey is a substantial part of the world economy.