By Yusuf-Kaan Gurer, LL.M. Candidate (Istanbul), Ph.D. Candidate (Cologne)
According to the World Economic Forum's latest Global Competitiveness Report  (GCR) Turkey is "one of the countries that improved most in the GCI rankings" in 2012 by moving up 16 places to attain the 43rd spot. The country's continued and rapid economic growth - 8.4% in 2011 - goes hand in hand with considerable improvements in its competition policy.
Driven by the accession negotiations with the European Union and eager to liberalize its economy, in 1994 Turkey introduced Act No. 4054 on the Protection of Competition  (Act 4054) with the aim "to ensure the protection of competition by performing the necessary regulations and supervisions". In order to enforce the provisions of this Act, three years later, in 1997 the Turkish Competition Authority  (TCA) became operational with the Board (TCB) as its decision-making body.
This series of three articles will give an overview of the recent developments in Turkey's aim to modernize its competition law regime to further boost effective competition and thus economic wealth. While Part I focuses on cartel prohibition, Part II will deal with dominance and, finally, Part III with merger control.