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Turkish textile industry would grow by 15% in 2014: MHGF
19
Dec '13
Board members at the meeting
Board members at the meeting
The year 2013 was successful for the Turkish textile and apparel sector and the next year, the textile industry is expected to grow by 15 to 20 percent, said Turkey Fashion and Apparel Federation (MHGF) chairman Huseyin Ozturk, at the board of directors meeting of MHGF and Izmir Embroidery Manufacturers Association (INDER), held recently at the Aegean Region Chamber of Industry in the Izmir province of Turkey.
 
According to a statement issued by MHGF, the chairman said during the meeting that the textile sector of the country faced some difficulties during the recent months due to the increase in production costs and exchange rates. However, disadvantages in terms of exports were overcome, and the textile industry continued to grow during the 2013 year, he added.
 
Mr. Ozturk said MHGF estimates that textile industry would grow 15-20 percent during 2014, but the exchange rate stability is necessary for the industry to maintain its growth rate. Increase in exchange rate would create difficulties for firms operating in the textile sector of the country, he added.
 
At the meeting, Mukkaddar Ozden, member of the MHGF board of directors and the chairman of Aegean Clothing Manufacturers Association (EGSD), said trade can be increased during the upcoming year by innovation of new products and exploring new markets.
 
It is necessary to experiment with new kinds of products and increase competitiveness amongst enterprises operating in the sector, in order to achieve the estimated growth rate in 2014, he added.
 
Speaking at the meeting, INDER chairman Ilhan Kuloglu said the embroidery industry also had a successful run during the 2013 year and the sector is expected to grow significantly during the next year also.
 
The textile and apparel sector of Turkey accounts for major contribution to the development of the economy of the country, and it provides huge opportunities for employment, especially for females, he added.
 
Mr. Kuloglu said that despite competition from international markets, the textile and apparel sector of the country has potential to reach incredible heights during the upcoming year, with continuous innovations and exploring new markets.
 

Fibre2fashion News Desk - India


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