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Govt offers interest free loans for enhancing export volume
25
Aug '08
Minister of Industry and Commerce, while making an inaugural speech for a local Justice and Development Party congress in Düzce, an industrial city in the Marmara Region, stated that domestic exporters would very soon be able to take advantage of a new package of state-supported, interest-free loans similar to those being offered to the industrial small and medium sized companies.

Application for accessing the loans will start from September 15 and once granted the the first instalment of repayment would commence after after six months following the disbursement. A total of US $650 million will be disbursed to the exporter SMEs through this channel who in turn are expected to raise their export levels by around six or seven times.

The minister also pointed out that endeavors were being taken to upgrade the current export targets of Turkey. Moreover, the finance extended to the exporters will also help the country widen its foreign export markets.

It was also observed that despite a record breaking export volume, exporters are facing a tough time coping with over-valued lira which is continuously eroding their profit margins. So much so that some of the exporters are even bearing losses for holding on to their foreign clients and thereby their international market share.

However, the situation is likely to improve with capital aid being offered by the Government and it is hoped that exporters would find a way out to grab the most of this opportunity for strengthening their position in the global market.


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