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Textile export shows growth

21
Mar '07
Although the textile sector is facing challenges from Indian and Chinese manufacturers, export in second half of 2006 and early 2007 has registered growth.

According to the reports received from Istanbul Textile & Apparel Exporters' Association (ITKIB), during January 2006, Turkey exported $930 million worth of ready-to-wear apparel, compared with $1.1 billion in same month 2007, an increase of 16.4 percent. Meanwhile textile and raw material exports spiked almost 33 percent over the same period, to $450 million.

Experts are giving two reasons for export growth: lowering of special consumption tax (ÖTV) for textile producers and the reduction of corporate tax rate from 30 to 20 percent.

Other important causes are, the country is very much focused to improve on the higher end of the textiles and apparel market. Quick delivery to European countries provides an advantage to Turkish textile producers.

The textile industry is also investing in cutting-edge technologies for production of high-class goods.

Many Turkish textile manufacturers are focusing on brand development, quality production and design, and have tried to take advantage of foreign initiatives to facilitate trade and investment.

Egypt, allocated 2 million square meter area to develop Polaris International Industrial Park, to serve as a Turkish free trade zone within Egypt's Sixth of October City Qualified Industrial Zone (QIZ).

The QIZ provides exports, which include a certain percentage of Israeli content, duty-free to the US. Turkish firms in the industrial park have tariff-free access to the US market through the QIZ.


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