Page 9 - VGEylul_2018
P. 9

Vergide Gündem
            English Translation

                                            Trade risks for the companies in the scope of

                                            the export controls

                                            Even though the countries, in the era of globalization, acknowledge the necessity
                                            of creating a freer and facilitating trade environment for the companies engaged
                                            in foreign-exchange earning activities in order to strengthen the economy, some
                                            international and national regulations are clearly in contradiction with this view.
                                            The export controls covering these regulations in general terms are defined as
                                            "domestic regulations that countries make with national security concerns, as well
                                            as controls on the transfer of goods, services or technology subject to international
                                            trade as a requirement of international responsibilities and co-operation".

                                            In this context, it is possible for the companies that violate the export control
                                            regulations to face with the risks including penalties, damage to the reputation
                                            of the brand in the international market, and experiencing difficulties in the
                                            subsequent export operations. The measures to be taken generally can be listed as
                                            the assignment of a team within the company for the export controls, the regular
                                            training of employees on the current legislation and regulations, and creating the
                                            export control compliance guide.

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