With the US ending its GSP benefits and the possibility of a no-deal Brexit looming large, Turkish textiles and apparel industry started bracing for a future without a friendly US or UK.
The US termination of Turkeys generalised system of preferences (GSP) benefit, concern over losing trade with the United Kingdom in the event of a no-deal Brexit, European industry efforts to address trade barriers and the failure of European apparel brands to prevent exploitation of Syrian refugees in Turkish supply chains defined the apparel and textiles sector this year.
The US in May terminated Turkeys designation as a beneficiary developing nation under the GSP programme. Turkey had been designated as a GSP beneficiary way back in 1975. An increase in gross national income per capita, declining poverty rates and export diversificationby trading partner and by sectorare evidence of Turkeys higher level of economic development, the US contended.
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