Breaking News

Australia Raises Almost US$5 Billion as Abbott Sells Medibank in IPO
Tweet TWEET

Turkish Parties to Pass 3 Laws for Economy, Iyimaya Tells CNBC-e

Turkish political parties have agreed to speed up debate on three laws that make up the “spine of the economy," said Ahmet Iyimaya, head of the parliamentary justice commission.

Lawmakers will vote by Jan. 20 on a new commercial code, a debt law and a measure to regulate how courts handle business disputes, Iyimaya said today in an interview with CNBC-e television. The legislation will help Turkey meet European Union membership standards.

The parties have agreed to waive their right to debate every one of more than 2,000 separate clauses in the legislation, Iyimaya, a member of the ruling Justice and Development Party, told the channel. Akif Hamzacebi of the main opposition Republican People’s Party said the laws will be passed between Jan. 11 and Jan. 20.

Parliament is debating the 2011 budget and is also expected to approve legislation allowing revised payment schedules for tax debts. Prime Minister Recep Tayyip Erdogan aims to hold parliamentary elections in June.

To contact the reporters on this story: Steve Bryant in Ankara at sbryant5@bloomberg.net; Ali Berat Meric in Ankara at americ@bloomberg.net.

To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.