Europeans want to sell to Russia via Turkish firms
by Daily Sabah
ISTANBULJan 29, 2015 - 12:00 am GMT+3
by Daily Sabah
Jan 29, 2015 12:00 am
Turkish Exporters' Assembly (TİM) Chairman, Mehmet Büyükekşi, has noted that many European companies are offering to sell their goods to Russia, which is faced with sanctions from both the E.U. and the U.S., via Turkish firms.
Speaking at a meeting organized to announce the results of the TİM's 2014 fourth Quarter Realization and 2015 first Quarter Expectations Survey, Büyükekşi stated that while there is a decline in trade with Russia, Turkish exporters are targeting the Russian market.
The decline in exports to Russia is around $1.8 billion, a decrease of around 15 percent. However, such figures do not include unrecorded trade activities. New economic and political developments in relations between the countries also give confidence to exporters. "Since the E.U.'s decision to impose sanctions on Russia does not involve Turkey, Turkish firms are now targeting the Russian market. However, Turkish firms are not accepting European firms' offers to sell their goods through Turkish companies, as this may not be a sustainable step in the long run," noted Büyükekşi.
Replying to a question on the problem of monetary expansion in the Eurozone and the resulting low parity, Büyükekşi noted that low parity would mean an increase in demand, but will cause problems for countries that obtain raw materials in dollars instead of euros. His advice to exporters was first to try and maintain their market shares, and secondly, use all logistic possibilities. "The highest export rate to the E.U. is observed in ready-made wear and automobile industries. Therefore, we need to look for solutions that will boost productivity and decrease costs," said Büyükekşi.
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