Iran's textile and garment exports to Turkey during the last Iranian year that ended on March 20 this year exceeded US$ 40 million.
This is in spite of Turkey being one of the leading exporters of garment and textiles across the globe.
About 65 percent of Iran's total textile and garment exports to Turkey constituted fibres, textiles and yarns.
Like other leading textile producing nations, Turkey too imports raw inputs and converts the same into finished goods and thus reaps the benefits of value addition.
However, owing to deterioration in collaboration with foreign labels and subcontracting to Southeast Asian nations, Turkey's garment sector is confronting a severe crisis. Also, heavy duties on garment imports ensure that the domestic industries set their focus on local markets.
There are around 9,500 industrial units functional in Iran's textile industry, with over 75 percent of them being private ventures. Just a few state-owned units are looked upon as the main reason behind the sector's retardation.
Recently, the Iranian Government has resolved to revitalise the Behshahr textile units in Mazandaran province with aid of foreign investments, and after reasonable analysis has approved a Turkish firm's plans for the same.
Fibre2fashion News Desk - India
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