Turkey launches new free-trade zone specializing in R&D

ANKARA

Turkey has launched a new free-trade zone specializing in R&D, high technology, and high added-value activities, the nation's trade minister said on Tuesday.

The Trade Ministry will provide incentives for companies that take part in the zone such as tax exemptions, breaks on rent, and qualified employment support, Ruhsar Pekcan stressed.

"We aim for the incentives and support provided in the Specialized Free Zones to make an important contribution to attracting international investors along with our country’s young, qualified workforce, appropriate infrastructure, and logistical advantages," Pekcan wrote on Twitter.

The Specialized Free Zone in Istanbul, Turkey’s commercial capital, will focus on the information technology sector, she added.

"We aim to further accelerate the dynamism formed in the service sector, especially in software and game development, thanks to the specialized free zones model," she said.