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Implement Digitization in Industries
In order to fully support the term “Digital Company,” the Turkish government has implemented steps and made huge reforms to their system. According to these reforms, Turkish law permits firms to use digital documents and e-mails in lawfully required capacity. Thus, we can assume that Turkey is going to implement digitization in most of its industries.
The digital revolution is imminent, and today’s hyper-connected world is powering it. It creates new proficiencies, new products and services, new results, new business and revenue models, and an explosion of data from new and emerging technologies. Turkey must keep up with the world and implement digital changes to its industry.
With a population of more than 80 million, 68 percent of whom are at working age, high growth performance, and a trading volume nearing 400 billion dollars, Turkey has instigated new strategies in their trading sectors in this digital age.
Related Article: Establishing a Company in Turkey.
Digitization of The 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. One of the most obvious fields that our digital age manifests itself in is; e-commerce, which continues to grow steadily.
With the implementation of the digitization process running, it is time for Turkish companies to use e-commerce opportunities domestically effectively and for foreign trade. With Turkey being a crossroad country, Turkey has great potential for serving as a logistics hub concerning e-commerce.
Trade-Related Strategies Towards Digitization in Turkey
The adaptation to e-commerce is essential, 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 the Turkish ministry, and domestic commerce infrastructure to customs procedures is their primacy.
Digitization in a trade relationship with Customs Union partner, the EU, 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 customs.
By introducing the “MERSIS,” the Turkish ministry can now electronically monitor and manage all kinds of company procedures, from registration to successive legal performances. This network eases the formal workload of companies and enhances coordination among different ministries and branches of the government concerning domestic trade.
The need of the hour is to capitalize on such developments brought by technology and globalization, as Turkey is a substantial part of the world’s economy.