Home / Knowledge / News / Textiles / Turkish exporters target Latin American & African markets

Turkish exporters target Latin American & African markets

25
Jul '09
Turkish exporters are now in search of new opportunities in the promising markets of Latin America and Africa, after witnessing a heavy contraction in the country's traditional markets due to current economic atmosphere.

It is expected that the exports of the country will fall down to $100 billion as compared to $132 billion in the previous year. Turkey is interested to sign a free trade deal with the Mercosur countries, which includes countries like Brazil, Argentina, Paraguay and Uruguay.

However, an expert said that the talks regarding the probable deal are not satisfactory for Turkey. A customs duty of 3.5 percent is imposed on the import from these countries due to a Customs Union Deal that Turkey signed, he added.

But, the Turkish exporters are loaded by 30 percent duty on the exports to these countries. The country could work in cooperation with Latin American countries on trades with Central Asia, which is an emerging market for global trade, said the expert.

He further added that the country intends to increase its trade volume with Brazil in coming three years to $5 billion from the current volume of $1.7 billion as Turkish companies export textiles, chemicals and spare parts particularly to Brazil in Latin America.

He said that the country has to enhance links with 'easy to reach and untouched' African markets as well as with Latin America. As Latin America has an overall population of 500 million, it provides a wide opportunity to foreign traders.

While the Caribbean and Central American markets are also promising as these countries have comparatively weak manufacturing industries, which import many goods. Establishing logistic centers in those countries and marketing from Turkey will minimize transportation expenditure, which could prove to be beneficial, informed an official.

Fibre2fashion News Desk - India


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

US President Joe Biden. Pic Palinchak | Dreamstime.com

Retail | On 3rd Dec 2021

American families have more money in their pockets: US President

Even after accounting for rising prices, the typical American family...

Pic: heimtextil.messefrankfurt.com/

Textiles | On 3rd Dec 2021

Messe Frankfurt cancels international home textiles fair Heimtextil

The Messe Frankfurt Group has announced cancellation of Heimtextil,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Rajesh Vohra,

Rajesh Vohra

A part of the Italy based multinational company Artsana Group, Chicco is...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Asmita Marwa, Asmita Marwa Design

Asmita Marwa
Asmita Marwa Design

Indian fashion designer Asmita Marwa has been rated by Vogue as one of the ...

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


December 2021

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


Advanced Search