We should focus on distant markets in exports

Noting that Turkish exporters are turning to the emerging markets of Asia, Latin America and Africa in the global crisis environment, AKİB Coordinator Chairman Fuat Tosyalı stated that access to finance should be further facilitated in order to keep the investment appetite alive and to make production and exports sustainable.

“Uncertainty is increasing in traditional markets, we must focus on opportunities in distant markets”

Stating that the effects of the Russia-Ukraine war, the energy crisis, the recession due to monetary tightening and the contraction in foreign demand increased the uncertainties in all markets, especially in the Euro Zone, Fuat Tosyalı said, “The Organization for Economic Cooperation and Development (OECD), of which 37 countries are members, will reach 5 percent in 2021. While it predicts that the global growth rate, which is 5.9, will decrease by about 50 percent in 2022, it predicts that texexhis figure will decrease to 2.2 percent in 2023. According to OECD calculations, a decrease in global trade growth is expected in parallel with the general economic trend. Global trade growth, which was 10 percent in 2021, is expected to decrease to 5.4 percent in 2022 and to 2.9 percent in 2023. Many financial institutions say the coming year will witness weaker global growth and higher borrowing costs. Despite the contractions and negative projections in our traditional export markets, the economy and trade in developing countries are still alive. Therefore, within the scope of the Far Countries Strategy, we need to be more active and strengthened in the emerging markets of Asia, Latin America and Africa.”

Emphasizing that the trade delegations organized for 18 target countries within the scope of the Far Countries Strategy, under the coordination of the Turkish Exporters Assembly (TIM) with the support of the Ministry of Commerce, offer important opportunities to ensure market diversity, President Tosyalı noted that it is very important for all members of the export family to participate in these events.

Underlining that exporters need to make new investments and renew the technologies of existing investments in order to maintain their gains in traditional markets and to reach their targets to increase market diversity, President Fuat Tosyalı said that improving the conditions of access to finance in this process is of great importance.