Home / Knowledge / News / Apparel/Garments / Turkish textiles sector wary of possible no-deal Brexit

Turkish textiles sector wary of possible no-deal Brexit

29
Jan '19
Turkish textiles sector wary of possible no-deal Brexit
Turkish textiles exports to the United Kingdom, worth $2 billion dollar a year, will reportedly suffer a severe hit if the latter leaves the European Union (EU) without a deal on March 29. The country needs a free trade agreement to prevent the risks of a possible no-deal Brexit, said Mustafa Gültepe, head of the Istanbul Textile and Apparel Exporters’ Union.

In the case of a no-deal Brexit, Turkish exporters will be faced with an additional 12 per cent customs tax in the United Kingdom, which is significant for the readymade garments sector, a recent report on a Turkish news site quoted Gültepe as saying.

The United Kingdom is Turkey’s second largest export destination, following Germany. While Turkey's exports to the United Kingdom were worth $9.6 billion in 2017, its imports from the country stood at $6.5 billion.

Turkey had signed a bilateral arrangement to join the EU’s customs union in 1995, which allows the country to trade manufactured goods without any tariffs or quotas. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

Textile Industry, Head Honchos

Textile Industry
Head Honchos

Increase foreign exchange and create jobs

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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


October 2021

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


Advanced Search