Home / Knowledge / News / Apparel/Garments / Turkey eyes Africa to sidestep Russian sanctions
Turkey eyes Africa to sidestep Russian sanctions
16
Dec '15
Hit by Russian sanctions, Turkey's ready-to-wear exporters are eyeing new markets in Africa and diversify their client base to compensate for the losses due to Moscow's decision.

Hikmet Tanriverdi, head of the Istanbul Ready-Made Garment Exporters' Association (IHKIB), said at a press conference in Istanbul that the Russian sanctions caused several risks for both Turkish and Russian economies as the two countries have strong economic ties in such sectors as energy, food, and tourism, alongside the textile sector.

"Our textile export numbers with Russia have been already in decline for two years due to the falling ruble and the Ukraine crisis. We were planning to boost the textile export in 2016, but the Russian jet crisis has spiked our plans," Tanriverdi said.

Ties between Turkey and Russia have soured after the former shot down a Russian fighter plane on November 24 which Istanbul claims violated Turkish air space.

Following the incident, Russia introduced a range of sanctions ranging from restrictions on visa-free travel to a ban on imports of certain foodstuffs and textile products from Turkey.

"Until the political situation between Turkey and Russia clears up, we have decided to set new strategies to direct the textile exports (originally destined for) Russia to the African market," Tanriverdi said.

"We already have trade relations with Nigeria, and now we have some bilateral talks with Cameroon. We are also planning to reach six more countries and a market of 35 million people via Cameroon. I hope we will double the ready-to-wear exports to Africa in three years," Tanriverdi said.

The foreign trade volume between the Turkey and Russia reached $31.2 billion in 2014 - a 17.3 per cent increase from the previous year. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

Bangla Tariff Commission fears grave impact on China trade

The impact of the coronavirus outbreak on Bangladesh-China trade is...

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Interviews View All

Ghanshyam Ghoghari, Kimora Fashion

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search