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All eyes on textile in 2007 - Halit Narin

07
Mar '07
The Turkish economy continued its growth in the last year it has sustained in the last five years.

New records were set in exports and foreign investment. Due to the increasing interest in the Turkish banking sector, direct foreign investment reached 17.5 Billion dollars, a new record.

Two negative points inherited from 2006 are high unemployment and trade deficit. These two subjects presenting big problems for the economy pointed once more to the importance of textiles in the economy because of the high number of employment in textiles and because of the fact that textile foreign trade presents a positive balance. But, textiles have their own problems, namely, high increases in cost.

The sector had difficulties coping with the low priced products coming from the Far East and lost considerable numbers of its work force. But even with these unfavorable circumstances, textiles continued its growth in exports.

Experts say that the sector is adapting itself to the terms of global competition but representetives of the sector like Mr. Halit Narin, President of the Turkish Textile Employers Association insist that the sector must be supported in its battle against unfavorable terms such as high input costs

Turkish Textile Employers Association


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