Foreign Trade News from Turkey

Turkey Trade Minister Ruhsar Pekcan said that Union Agreement remains insufficient.(05.July.2020)

Trade Minister Ruhsar Pekcan said that between Turkey and the European Union (EU) Customs Union Agreement is no longer sufficient for the business world.

Emphasizing that She met with the EU ambassadors twice and also exchanged views with the trade chamber heads of the countries concerned, Pekcan said:

Everyone's opinion is common, this Customs Union Agreement is now inadequate. The scope of new generation free trade agreements (STA) is very wide. The EU has signed these agreements with third countries, our Customs Union Agreement has lagged behind the STAs of these countries. At this point they still give us rights. At the moment, politics must be put aside and we should only focus on economy and trade, there is no reason not to do this. Because EU business people also need it. "

Globalization trend in the world steel trade tends to localize in recent years. 15.Jun 2020

The globalization trend in the world steel trade, which has increased rapidly until 2000, has been showing a localization trend since 2000. In 1975, the share of international trade in total world steel production, which was 22.6%, increased to 39.2% by 2000. After 2000, globalization in the world steel trade was replaced by nationalization / localization, and the share of exports in production fell from 39.2% in 2000 to 25.1% in 2019.

In the world steel trade, the place of globalization left to localization,

- Moving the production facilities to the points where the consumption is and approaching the production where the consumption is done,

- Increased trade disputes and trade wars,

- Rapid publication of protectionist measures,

- Traditional steel importer countries reach their self-sufficient steel production volumes such elements were cultivated.

Source:Evrimhaber

According to Chinese customs department data; Trade between China and Russia declines.Jun 2020

According to Chinese customs department data, the trade volume between Russia and China decreased by 4.3% in the first 5 months of 2020 compared to the same period of the previous year.

The trade volume in the first 5 months was reported as $ 40.89 billion.In the January-May period, China's exports to Russia decreased by 7.3% and amounted to $ 16.94 billion, while exports from Russia to China decreased by 2.1% to $ 23.94 billion.

Source:Evrimhaber

Trade Minister Ruhsar Pekcan said that Turkey will give full weight to work overseas logistics centers

Trade Minister Ruhsar Pekcan  said that reducing the negative impact of the epidemic on Turkey's economy, protecting and improving the production capacity of the domestic industry in order to counter the increasing import pressure recently introduced additional customs duties on certain products and also added that; 

As in the world, we have to take these temporary measures.We see that in this process some of the products produced in Turkey, unfortunately, brought from abroad.The measures we take are aimed at protecting the domestic producer.

We are ready to provide all kinds of support to our investors as the Ministry of Trade, the Treasury and the Ministry of Finance and the Ministry of Industry and Technology.As long as Our business people are investing for the products to be dependent on outside of Turkey. " said.

Stating that they will also focus on the work of foreign logistics centers, Pekcan said that logistics centers, where fast deliveries can be made in the new period, have gained importance and therefore they will speed up the work in question. Emphasizing that they attach great importance to consultation during this period, Pekcan added that tradesmen, SMEs, exporters and the business world are always on their side and will continue to be.