International Advertising, Promotion and Marketing Expenses of Companies will be Covered up to 50%

The application period for the Presidential Decree on “Branding Support in Foreign Currency-Earning Service Sectors” that was published in the Official Gazette on May 20, 2020, has been extended to July 27, 2020, from June 30.

The decree, which first came into force in 2015 and has been pending for a while, was put into action in order to increase the trade volume of companies that failed due to the COVID-19 pandemic. Companies that aim to increase their competitive power in the international market will be able to prepare their documents and complete their applications until July 27, 2020.

Market support will be provided for five years

With the Presidential Decree on “Branding Support in Foreign Currency-Earning Service Sectors,” Turkish brands in the service sector will be supported for five years in each new market they enter and, other than the target market supports, will be supported for the development of corporate infrastructure in the first five years.  

50% of the advertising expenses will be covered

In this context, the expenses of the brands under the Turquality Support Program, including the product and services registration fees in the countries that in which they have decided to operate, as well as advertising, promotion and marketing expenses for the registration and preservation of the brands in international markets, will be supported up to 50%.