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Turkey hopes for bigger textiles trade with Russia
06
Jul '16
The Turkish textiles and apparel sectors are hopeful that normalisation of ties with Russia will increase trade with Moscow. Bilateral relations between the two countries had practically frozen after Turkey shot down a Russian fighter aircraft in November 2015.

Laleli Industrialists and Businessmen Association (LASIAD) President Giyasettin Eyyüpkoca told Turkey's Anadolu Agency that Turkey was a really good producer, and Russia a very good consumer. He stressed that the two countries have been partners for nearly 25 years.

Indicating Turkey's shared interests with Russia, Eyyüpkoca said: "We knew that the problem with Russia would not last too long. The steps taken towards the normalisation of the relations are quite healthy and positive. The greatest love sees fighting. Our relations with Russia sit on a firm basis, and I can say that relations between us will be healthier, and commerce will be along international norms."

Stating that steps towards normalisation would directly contribute to the textile and apparel trade among other sectors, Eyyüpkoca foresees an increase in apparel sales of 15-20 per cent over the short term.

Istanbul Apparel Exporters' Association (IHKIB) President Hikmet Tanriverdi said the apparel sales played an important part in economic relations between Turkey and Russia, and was among the sectors most affected by the cooling in relations. "We aim to rapidly move up to our former position in relation to the recoveries in economy along with the new period. Starting from 2017, we expect exports of between $400 million to $500 million."

Recalling that during the 2009 global crisis, Turkey exported $182 million worth of apparel to Russia, a number that reached $412 million in 2013, Tanriverdi said Russia was one of Turkey's top ten markets, but the problems emerging in the Russian economy and problems in bilateral relations had caused export to slide back to where it was six to seven years ago, dropping to $204 million for 2015. Tanriverdi said apparel exports to Russia during the first five months of 2016 hit $45 million, marking 49.5 per cent of Turkey's apparel exports.

Russian Federation National Security Academy Foreign Economic Relations Vice President Talat Enver Çetin said he believed the relations between Turkey and Russia would continue and strengthen in the coming period. (SH)

Fibre2Fashion News Desk – India

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