Eager to diversify their markets and curb dependency on Europe, Turkish house and kitchenware firms are looking for to achieve a foothold in Gulf international locations, in keeping with a prime trade official.
Some 60% of the trade’s exports are shipped to Europe, however recession indicators within the EU have elevated the necessity for diversification, stated Mesut Öksüz, head of the Turkish Houseware Association (Zücder).
Gulf and African nations are notably promising avenues, in keeping with Öksüz.
He stated there may be vital potential to develop bilateral commerce between Türkiye and Saudi Arabia because the lifting of commerce curbs gives an awesome benefit to Turkish exporters.
Companies from Saudi Arabia, the United Arab Emirates (UAE), and Qatar participated in Zücder’s International Brand and Manufacturer Meeting in May, the place they signed vital agreements with Turkish corporations, Öksüz instructed Anadolu Agency (AA).
“We will soon have a sectoral trade delegation trip to Saudi Arabia, which is of great importance for our industry and offers immense opportunity,” he stated.
Major consumers from Bahrain, Kuwait and Oman may even be there for an occasion from Oct. 31 to Nov. 3, he added.
“Our aim is to bring together our manufacturers with wholesale and retail companies and chain stores operating in Saudi Arabia and neighboring countries,” he stated.
On his high-profile tour of Gulf international locations this July, President Recep Tayyip Erdoğan was accompanied by prime Turkish business officers, who signed 26 agreements in three international locations – Saudi Arabia, Qatar, and the UAE.
$7B export goal
Öksüz stated the Turkish house and kitchenware sector’s exports reached $6.12 billion in 2022, and imports stood at $1.47 billion – a internet surplus of $4.65 billion.
The worth of export per kilogram within the sector rose 13.8% over the previous 5 years to $3.95 in 2022, he stated.
The major export locations are the U.Okay., Germany, Italy and France, he stated, including that the purpose is to take up exports to $7 billion this yr.
Öksüz stated China, the place manufacturing prices are 30-40% decrease than Türkiye, has been exerting strain on costs to regain its place in export markets.
“Still, though, companies importing from China are looking for alternative countries, and we are also getting our share from this search,” he added.
Turkish producers have a robust place within the world house and kitchenware sector, notably when it comes to product high quality and repair, he asserted.
“Today, ‘Made in Türkiye’ has become a preference in many markets,” stated Öksüz.
About the thirty third International Home and Kitchenwares Fair held in Istanbul final week, he stated the occasion generated offers value $2 billion.
There was nice participation by consumers from the U.S., whereas curiosity from close by markets was additionally excessive, he added.
Source: www.dailysabah.com