Home / Knowledge / News / Free zones reap profits as trade volume balloons
Free zones reap profits as trade volume balloons
27
May '08
Free trade zones in Turkey witnessed a giant leap in its trade volume in the first quarter of 2008 engaging in ventures worth US $6.5 billion, a jump of 17.2 percent over the same period last year.

Of the total, the largest share belonged to the Istanbul Leather Free Zone which recorded revenue amounting to $1.6 billion. The Aegean Free Zone ranked second with $983.8 million in trade.

The trade volume of Mersin Free Zone saw a 32.2 percent increase over the previous year, rising to $716.6 million. Thrace Free Zone, on the other hand, suffered a 7 percent drop in the given period and fell to $530.6 million. However, the sixth largest free zone, Bursa, enjoyed a 10.8 percent rise and reached $456.5 million in trade.

Most of the trade deals in the free zones amounting to $2.5 billion were contracted with companies from Organization for Economic Cooperation and Development (OECD) countries and the European Union.

Other European countries had a mere $7.5 million share whereas member countries of Commonwealth of Independent States (CIS) ventured for business deals worth $469.8 million with companies operating in free zones of Turkey. Again, customers in North Africa and Middle East countries made transaction of goods worth $345.2 million.

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search