Trade Ministry

Authorities have announced a raft of regulations aims at bringing exorbitant prices in the secondhand car market under control.

The price of secondhand cars put up for sale online should not exceed that of new cars, said Trade Minister Ömer Bolat.

Some 30.3 million tons of grain have been transported by 953 ships to the world market through the Black Sea grain corridor since August 2022, a senior official from the Trade Ministry has announced.

With the key elections now over, Türkiye should again focus on production and exports, which may gain momentum in the remainder of the year, Mustafa Gültepe, the head of the Turkish Exporters' Association (TIM) has said.

Turkish contractors are focusing more on the markets in the Balkan nations amid the war between Russia and Ukraine, projects in Romania in particular, business daily Dünya has reported.

Recently, Turkish companies won a tender worth 266 million euros to build a section of a highway in Romania.

A report submitted to parliament by the Turkish Presidency estimated the total cost of the February earthquakes at 2 trillion Turkish Liras (around $39 billion).

Each ministry separately calculated the damages from the tremors and funds needed to repair those damages, daily Milliyet reported.

Türkiye's automotive industry has unveiled a sustainability action plan that is designed to guide and help local carmakers keep their competitiveness in a fast-changing market.

Türkiye's exports showed a 4.4 percent increase in March from a year ago to stand at $23.6 billion, the preliminary data from the Trade Ministry have shown.

This marked an all-time-high March figure in exports, Trade Minister Mehmet Muş said.

"We expect the impact from the earthquakes on production and exports to wane further in the coming months," Muş said.

Some 200 participants from 41 countries will gather for the Istanbul Public Private Partnership (PPP) Week event between Jan 16 and 19.

This will be the eighth edition of PPP Week. Transport and Infrastructure Minister Adil Karaismailoğlu is also expected to attend the Istanbul PPP week.

The Trade Ministry has vowed to take necessary measures to prevent price increases and ease supply problems in the cement market.

The ministry said in a statement that it is monitoring developments in the construction sector, which has a considerable weight for the Turkish economy, adding that it is looking into the foreign trade angle.

The Trade Ministry has launched a probe into the automotive market to securitize prices and supplies.

Inspectors have been appointed to look into the activities that allegedly aimed at distorting the market for new and second-hand cars, causing bottlenecks and preventing consumers from accessing vehicles, Trade Minister Mehmet Muş said on Twitter.