Turkey eyes Africa as a major export destination
According to reports, the economic slowdown has forced Turkish manufacturers, including tanners and leathergoods producers, to look to new export destinations. The country is hoping to increase exports to African nations in a bid to offset the decline in exports to its more traditional export markets, the majority of which are in Europe.
Turkish exports have fallen significantly this year. Reports indicate that total exports dropped 27% in the January to November period compared with the same period in 2008. Leather and leathergoods exports are expected to total $1.1 billion this year compared with $1.6 billion in 2008 (see leatherbiz 01.12.09).
Turkey’s minister for industry and trade, Nihat Ergün, said earlier this week that the country hopes to increase trade with countries in Africa from the current $10 billion to $17 billion in the near future. Trade has already increased rapidly from $4.3 billion in 2001, but there is potential to tap into new markets, Mr Ergün believes.
"The crisis showed exactly how risky and defective the idea to target most exports to a single market is," said Sabanci Holdings spokesperson Ahmet Dördüncü at the Eighth Industry Congress in Istanbul. "There is a need to explore new destinations and expand Turkey's export volume to reduce the risks."
Tamer Taskin, coordinating chairman of Turkish African Business Council at the Foreign Economic Relations Board (DEIK), said: “Turkish companies are already familiar with North Africa and now need to look at other regions in that continent as well. The good news is that the markets are open to almost any commodity from agricultural products to textiles, leather, construction materials, pharmaceuticals and consumer goods."
