Turkey Implements $25 Security Deposit On Solar Panel Imports: Ministry Of Trade Takes Action

The Ministry of Trade in Turkey has introduced a groundbreaking initiative to ensure fairness in trade, implementing a $25 security deposit per square meter on solar panel imports from Vietnam, Malaysia, Thailand, Croatia, and Jordan.

This measure, effective from March 26, aims to regulate imports of solar panels and address unfair competition practices similar to those seen in imports from China.

Importers will now be required to pay a security deposit of $25 per square meter for photovoltaic cells, whether assembled in modules or arranged in panels. This decision follows a thorough investigation initiated on Nov. 25, 2023, to examine the import practices of these solar panels.

By imposing such measures, the Ministry of Trade demonstrates its dedication to safeguarding domestic industries from dumping, an unfair practice in international trade where products are exported at prices below their domestic market value.

The ministry’s statement in the Official Gazette clarified that this measure is a response to attempts to bypass existing surveillance on imports, particularly concerning reexports from these countries following surveillance on Chinese-origin panels.

This regulatory change, extending Turkey’s protective stance in the solar panel market into its seventh year, sends a clear message to the global energy sector and underscores the country’s strategic response to evolving trends in energy investments and trade dynamics.

Additionally, if the ongoing investigation results in further protective measures, the security deposits will contribute to the treasury, while they will be refunded if the investigation concludes without additional measures.