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Economy continues to grow

30
Apr '07
Turkish economy has been successful in keeping its growth for the last five years. New records were set in exports and foreign investment, which has reached US $17.5 billion.

However, unemployment and trade deficit are two vexed issues Turkey has to face. Experts say that only textile industry can solve these problems as it is labour intensive.

But, textile has its own problems like high production cost. The sector has difficulties in coping with low-priced products coming from Far East and lost considerable number of its work force. Under such unfavorable circumstances, textiles continued its growth in exports.

Sector is adapting itself to the terms of global competition but representetives like Halit Narin, President of the Turkish Textile Employers Association insists that textile must be supported in its battle against unfavorable conditions such as high input costs.

Fibre2fashion News Desk - Turkey


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