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Turkey imported a quarter of its $10.1 billion textile imports from China in 2017, more than half of which are cotton fabrics and intermediary goods.Turkey’s textile sector is a pillar of its economy. Ready-to-wear clothing accounted for about 18 percent of Turkey’s $157 billion exports last year.Cüneyt Yavuz, chief executive officer of jeans retailer Mavi, said he believed the government plan was aimed partly at tackling Turkey’s widening current account deficit, which reached $47.1 billion last year.Turkey imported a quarter of its $10.1 billion textile imports from China in 2017, more than half of which are cotton fabrics and intermediary goods.
New Requirements On Textile Importing Material
Turkey wants to impose new requirements on textile firms importing material from China, alarming leaders of one of the country’s biggest export industries, three clothing company executives told Reuters.
They said the plans were discussed at a meeting in Ankara on June 11 between economy ministry officials and representatives of textile companies, who had requested the meeting to ask that the planned measures be delayed or revised.An economy ministry official confirmed the meeting at the ministry, without giving details.Turkey’s textile sector is a pillar of its economy. Ready-to-wear clothing accounted for about 18 percent of Turkey’s $157 billion exports last year.Cüneyt Yavuz, chief executive officer of jeans retailer Mavi, said he believed the government plan was aimed partly at tackling Turkey’s widening current account deficit, which reached $47.1 billion last year.
Turkey imported a quarter of its $10.1 billion textile imports from China in 2017, more than half of which are cotton fabrics and intermediary goods.Turkey’s textile sector is a pillar of its economy. Ready-to-wear clothing accounted for about 18 percent of Turkey’s $157 billion exports last year.Cüneyt Yavuz, chief executive officer of jeans retailer Mavi, said he believed the government plan was aimed partly at tackling Turkey’s widening current account deficit, which reached $47.1 billion last year.Turkey imported a quarter of its $10.1 billion textile imports from China in 2017, more than half of which are cotton fabrics and intermediary goods.
2018-06-15 17:06
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