New Foundation Boosts Foreign Affairs Relations
The Turkish Grand National Assembly has approved the Foreign Affairs Organization Strengthening Foundation Law Proposal, which aims to enhance the activities of the Ministry of Foreign Affairs through the establishment of a foundation in Ankara. This foundation will focus on supporting the training of highly skilled and well-equipped personnel, as well as carrying out specified activities within the scope of the regulation.
The law allows the foundation to purchase, rent, and construct various properties to improve the quality of service at the Ministry of Foreign Affairs. It will also have the authority to evaluate and utilize immovable properties that belong to or are allocated to the Ministry but are not currently needed. Additionally, the foundation can establish higher education institutions to enhance staff qualifications and representation.
Furthermore, the foundation is permitted to engage in financial activities such as buying, selling, and renting properties both domestically and internationally to generate income for its purposes. It can also acquire various rights, receivables, and securities, as well as establish and operate companies and commercial enterprises.
The foundation’s governing bodies will include a board of trustees, board of directors, and supervisory board. The Minister of Foreign Affairs will serve as the chairman of the board of trustees, which will be responsible for making decisions and overseeing the foundation’s activities.
Income for the foundation will come from donations, aid, interest, government securities, and earnings from various activities organized by the foundation. Special exemptions have been granted to the foundation regarding taxes and fees on properties it owns or will acquire.
Procedures for the establishment of the foundation, its official deed, and registration will be finalized within one year of the regulation coming into force. Additionally, an initial budget of 10 million liras will be allocated from the Ministry of Foreign Affairs to support the foundation’s establishment procedures.
Overall, the Foreign Affairs Organization Strengthening Foundation Law aims to strengthen the Ministry of Foreign Affairs and enhance its capabilities through the establishment of a dedicated foundation in Turkey.
