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Observers: Take shelter against rumbling Europe
Recalling that nearly half of the total exports are performed with the eurozone, Büyükekşi asserted that exports to Europe have already started declining over the past days owing to the troubles in Greece that is staging massive riots as a reaction to harsh austerity measures. “We asked Turkish exporters to hedge themselves from the risks stemming from the troubles in debt-stricken Greece. Otherwise they will suffer harm in trade. Besides, additional problems are likely to rise if the currency rates fall below TL 2.1 against the euro and TL 1.5 against the dollar,” he argued. Büyükekşi was speaking at the opening session of the 3rd Fashion, Textile and Ready-to-wear Conference and Exhibition in İstanbul on Thursday.
He said Turkey must become a trend-setter country in fashion rather than following the trends created abroad. He also shared his remarks about the recent development in the foreign trade. Exports have risen with two-digit growth rates in each of the last five months, Büyükekşi recalled.
He mentioned the target of posting $500 billion in exports by the time Turkey will be celebrating its 100th anniversary in 2023, adding that $52 billion of this amount is projected to be undertaken by the ready-to-wear industry. Textile’s share will be $20 billion in this bold target, he noted and underlined that these are not dream. “Because Turkey has taken a great distance in organized retailing and we have to rely on this advancement while realizing these targets,” he explained.
The President of the Turkish Clothing Industrialists Association (TGSD) Cem Negrin also delivered a speech at launch of the conference. He said 40 international procurement companies are attending in the conference and these companies are responsible from nearly half of Turkey’s $14 billion annual ready-to-wear sales abroad. During the conference, these big buyers and 12 domestic purchasing companies will convene with the Turkish suppliers, Negrin informed and went on his words: “There will be around 1,500 business talks in this conference and through these discussions, we will be aiming to increase our exports by at least 10 percent. With rising sales, we hope to reveal the door for new employment opportunities.”
Negrin said a very rapid transformation is visible these days as the world is enjoying the signs of recovery from the global economic crisis. The old static rules of the global trade is collapsing one after another, he claimed, to open a space for a new economic system.
In this environment, Turkey, which is the world’s second largest supplier of ready-to-wear – will strive to protect its dominance in the global markets while trying to find new markets in the ever-toughening competition, Negrin commented. “To do this, we have to know the latest and most up-to-date developments in the trends, design and production and we have to invest in research for this,” he explained.
Negrin also summarized the biggest threats against the sector as the increasing pressure from the producers in the Far-east, increasing costs of domestic production and problems in the pricing. Additionally, Negrin also mentioned the recent hikes in cotton prices along with speculative rises in the textile prices as factors that are inflicting negativities on the sector.
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