ECONOMY

“Target is third place in the world with $5”

The household and kitchenware sector wants to grow in exports with value-added products in the new period. Talha Özger, head of the Turkish Home and Kitchenware Manufacturers and Exporters (EVSID) said that they are working to increase the export unit price per kilogram, which is currently at the level of 3.7 dollars, to the level of 5 dollars and that ...

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19.7 billion dollars export in 7 months

Evaluating the export figures of the chemical industry in July, Adil Pelister, Chairman, Istanbul Chemicals and Products Exporters’ Association (IKMIB) said, “The increase in demand after the pandemic, especially the increase in commodity prices, and the change in the supply chain, as well as the demand shifting to our country, as well as the production performance of our companies in ...

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Türkiye offers significant investment opportunities in agribusiness subsectors

As part of its targets set for the agriculture sector by 2023 Türkiye aims to be among the top five overall producers globally Home to the headwaters of the Tigris and Euphrates Rivers, Türkiye’s agricultural sector today is echoing the prosperity of ancient Mesopotamia. With its favorable geographical conditions and climate, large arable lands, and abundant water supplies, Türkiye is ...

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Textile sector eyes $1 billion exports to US

Türkiye’s textile industry aims to increase its export to the U.S. to at least $1 billion, the head of a trade group has said. “The U.S is an important market for us. In 2021, sales to this country reached $850 million and the target for this year is to boost export revenues above $1 billion,” said Ahmet Öksüz, head of the Istanbul Textile ...

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Türkiye’s agriculture minister urges joint action to tackle food crises

Türkiye’s minister of agriculture and forestry called for international and multilateral cooperation to tackle food insecurity. In his address to the Economic Cooperation Organization’s (ECO) 7th Ministerial Meeting on Agriculture in Uzbekistan’s capital Tashkent, Vahit Kirişci said: “Our primary responsibility is to leave a habitable world to future generations.” Food security has been affected by fluctuations in food prices, increasing ...

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Turkey big growth boom waiting to happen

Turkey is a big growth boom waiting to happen, said Robin Brooks, chief economist at the Institute of International Finance (IIF). “Net exports, the difference between exports and imports, have been a positive growth driver for over a year, a sign just how competitive Turkey’s export sector has become. All that’s needed is macro stability and Turkey will boom!,” he wrote on Twitter. ...

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Turkey’s BOTAŞ gets $929M loan from for LNG purchases

Turkey’s state energy importer has been provided with a 925 million-euro ($929 million) loan from Deutsche Bank to finance its future liquefied natural gas (LNG) purchases in a bid to diversify its import sources, the German lender said. The three-year loan will allow Petroleum Pipeline Corporation (BOTAŞ) to diversify its spot LNG purchases from suppliers mainly in Europe and the ...

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Countries need to bolster their game to attract FDI

The President of the Investment Office of the Presidency of Turkey Burak Daglıoglu called on countries to strengthen their efforts to attract foreign direct investment (FDI) amid the rise of globalization and technology. In an op-ed piece penned for the World Economic Forum, Daglıoglu said entrepreneurship has expanded thanks to more opportunities and innovative projects, which have an impact on ...

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Freight handled at ports rose nearly 7 pct in first half

Total volume of freight handled at Turkey’s  ports  increased by 6.6 percent in the first half of the year from a year ago to 273.5 million tons, Transport Minister Adil Karaismailoğlu has said. In June alone, ports handled 45.3 million tons of goods, marking a 3.7 percent increase from the same month of 2021, the minister said in a written ...

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What’s next for the euro after slump against dollar?

The euro’s plunge against the dollar, triggered by the Ukraine war and mounting recession fears in Europe, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 – a level not seen since the end of 2002, the year it was officially introduced. The tumble puts it on course ...

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