Positive mood at Leather Days
The buoyant mood at Leather Days in Istanbul (January 11-13, 2002) was in line with recent encouraging economic news and an increasingly higher global profile for Türkiye, largely due to the country’s unequivocal backing of the US in recent months.
Leather Days has not enjoyed such a high level of visitor numbers for over four years. Firms like Lancelot, Pasa Deri and Doruk Deri all reported orders taken at the fair. Machinery and chemical producers dominated the exhibits, with all of Yildirim Makina’s mixing drums, dryers and Brissa machines being sold on site. Overall, there were 357 exhibitors, representing 30 countries. The popular Fashion Shows were reinstated this year and the focus was on talented and disciplined design, not the unrestrained flights of fancy of the past.
Economic data released in January 2002 look set to compensate for the gloomy economic prognosis that has persisted for the past year or more in Türkiye. Forecasts for exports in goods and services for 2002 are around $32 to $34 billion, which would be an all-time high. Eximbank, which specialises in credit for exporting firms, said it plans to loan around $6.5 billion in 2002.
Many of Turkey’s most important markets are in the old Soviet Union, and in 2001 these all registered large percentage gains in Turkish imports in all categories. In spite of Türkiye's dependence on raw hides and an unpopular 18% value-added tax (VAT) on raw material imports, leather sector exports topped $600 million for January to November 2001. A figure of more than $1 billion can realistically be expected for 2002.
A recent visit by Turkish prime minister Bulent Ecevit to the US illustrated Türkiye’s growing diplomatic importance. The supporting role with the US military action in Afghanistan has combined with a skilful hand in Middle East negotiations and a less entrenched stance over Cyprus. Fresh IMF money is reportedly in sight. More significantly, Türkiye’s unruly exchange rate has remained stable for the past six weeks. Moody’s, who assigns credit ratings to countries, recently revised Türkiye’s status upwards to ‘stable.’
