Turk­ish ma­chin­ery sec­tor fo­cuses on U.S., Rus­sian mar­kets

Dünya Executive - - OVERVIEW -

Tur­key’s ma­chin­ery sec­tor is fo­cus­ing on the U.S and Rus­sian mar­kets as the growth in the eu­ro­zone is experienci­ng a slow­down, the head of the Ma­chin­ery Ex­porters’ As­so­ci­a­tion (MAIB) said. The sec­tor ex­ported ma­chin­ery worth $11.6 bil­lion in the first eight months of this year, Kutlu Kar­ave­li­oglu noted in a state­ment. The sec­tor’s ex­port vol­ume surged 13.8 per­cent year-on-year to two mil­lion tons dur­ing the Jan­uary-Au­gust pe­riod. “The U.S.’s ad­di­tional taxes on Chi­nese prod­ucts cre­ate op­por­tu­ni­ties for Turk­ish ma­chin­ery ex­porters, con­sid­er­ing 30 per­cent of the U.S. 16.5 per­cent share in global ma­chin­ery im­ports is from China,” Kar­ave­li­oglu added. MAIB will con­duct a study look­ing at introducin­g Turk­ish ma­chin­ery brands in the U.S. and it will make ef­forts to raise ex­ports to the U.S. from $1.3 bil­lion to $2 bil­lion an­nu­ally. Mean­while, the sec­tor’s ex­ports to Rus­sia rose by 21 per­cent dur­ing the first eight months to reach $308 mil­lion, he said.

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