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Anatolia shift suggested to bail out textile sector

02
May '06
Anatolia has turned out to be the last hope for ready-to-wear manufacturers who have been experiencing acute economic problems.

Turkish Clothing Manufacturers' Association (TGSD) believes Anatolia can create an advantage for the country's textile producers with help of Incentive Act 5048.

If the sector shifts its investments to Anatolia, it might wade over its recent economic crisis, commented TGSD Head Aynur Bektas.

Duzce, Bolu, Cerkes, and Karabuk are among those cities that hosted the TGSD visitors who wanted to see witness ground realities faced by the sector.

New investments are not possible in Istanbul, instead they may be diverted towards developing Anatolian cities.

Fashion, design and brands could become a solution for textile sector and Istanbul can retain its prima donna status as a fashion site, conveyed Bektas.

Turkey's textile and ready-to-wear sectors achieved sales volume of $18.6 billion in 2005, employing 30 percent of Turkey's workforce, achieved 20 percent of its industrial production and 25 percent of its total exports.

China's low cost advantage in international markets shrank profit margins for Turkey's textile and ready-to-wear sectors.

Product volume declined 11.8 percent in 2005, and volume of ready-to-wear products dropped sharply by 12.5 percent.

Since last year, almost 50 textile companies had to either focus their investments to other country or simply close operations.

Textile sector had a disastrous year in 2005, when employment, public taxes and the overvaluation of the Turkish lira adversely affected the economy, he opined.

Remedy for unemployment and provincial backwardness is to shift textile investments towards Anatolian cities, he reasoned.


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