The Turkish logistics and transportation sector, with a market dimension of $100 billion, holds a 2.5% share of the worldwide logistics market and ranks eleventh globally, the Trade Ministry stated Saturday.
In a written assertion, the ministry famous that efforts and actions have been accelerated within the logistics and transportation sector with an goal of maximizing the nation’s geographical benefit and growing items exports and overseas commerce.
The assertion emphasised that the sector holds a 2.5% share of the worldwide logistics market, which is $100 billion and ranks eleventh on this planet. It was additionally highlighted that the sector accounts for 40% of Türkiye’s complete service exports, and this determine will increase yearly.
According to the assertion, Türkiye climbed from forty seventh place with 3.15 factors within the Logistics Performance Index (LPI) measured by the World Bank in 2018 to thirty eighth place with 3.4 factors final 12 months.
“Our goal in the 12th Development Plan is to rise to 25th place by 2028,” it added.
Furthermore, the ministry stated certainly one of its investments within the logistics and transportation sector, which constitutes probably the most necessary pillars of the providers sector, is the help for the Overseas Logistics Distribution Networks (YLDA) Project.
“Beyond mere support for a single center and its elements, the YLDA Project comprehensively addresses overseas logistics networks as an end-to-end system, recognizing their significance as a vital component of the supply chain,” the ministry defined.
“We received 24 applications to our ministry, and approval was granted to six projects, two of which are based in America and four in Europe,” it added.
Mentioning the investments within the sector, authorities indicated that 5 manufacturers have been supported beneath “branding,” and 6 manufacturers have been supported beneath the “Turquality” program, along with the help supplied to the businesses to take part at crucial festivals within the sector in Spain, Germany and Poland beneath nationwide group.
It was additionally famous that roughly TL 395 million ($12.2 million) in monetary help was supplied to the sector by the ministry in 2023.
The assertion emphasised that the logistics and transportation sector contributed considerably to the nation’s financial system, with $40 billion in exports within the stated 12 months. Aiming to take a bigger share of world commerce and contribute to the nation’s sustainable progress, the ministry additionally stated it launched new help packages.
The assertion additionally highlighted that corporations working within the sector have began benefiting from these helps for the primary time and aimed to broaden their scope.
“In the upcoming period, the aim is to expand the scope with different support items further. In line with the continued increase in sector exports, we will maintain our strategic roadmap and support efforts in collaboration with sector stakeholders throughout 2024,” the assertion stated.
Source: www.dailysabah.com