Page 9 - VGEylul_2018

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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