Turkish textile industry set to open up to Iranian and African markets

Turkish textile and ready-made clothing sectors to make up for their losses experienced since bilateral political relations were strained with Russia, is all set to open up to Iranian and African markets as an alternative markets to compensate lose of Russian market. Turkish textile exporters have planned roadshows in Iran, Ghana, Nigeria, Morocco, Tunisia and Algeria in March.

Laleli Industrialists’ and Businessmen’s Association (LASÄ°AD) President Giyasettin Eyüpkoca said that economic recession is being experienced not only in Russia but also in other countries such as Italy, France and the United Kingdom.

He stressed that roadshows bring more advantages than fairs to the ready-made clothing sector. Eyüpkoca added that Pure London and Magic Show fashion events, which were recently held in the U.K. and the United States, respectively, were not efficient enough. The year 2016 will be challenging for the textile and ready-made clothing sectors. However, they see the potential in Africa.

Dosso Dossi Holding Chairman Hikmet Eraslan said that the sector has failed to increase its turnover despite reducing prices by 30 percent in the Laleli and Osmanbey shopping areas, which are popular shopping spots for Russian tourists in Istanbul. He underscored how essential it is to find alternative markets.

Referring to the fact that the Russians’ purchasing power has significantly declined due to the economic recession, Eyüpkoca said that the spending balance in the country has reflected on the Laleli market as well. The season did not see a good opening, as the Russians’ capital has melted away because of the economic crisis. The Russians have become very choosy, which makes things difficult for the companies that only have business relations with Russia.

The textile and ready-made clothing sectors have difficulty exporting goods to Russia. Osmanbey Textile Businessmen’s Association (OTÄ°AD) President Ä°lker KarataÅŸ said that many companies operating in Osmanbey tried producing goods in Serbia and Georgia from where they could then be exported to Russia.

A top-level delegation from Serbia recently visited OTÄ°AD to invite Turkish textile companies to produce goods in the country. Serbia has seriously focused on the job, offers quite convenient investment opportunities for Turkish companies.