Trade Minister Ömer Bolat assessed the export performance of the textile and apparel sector at the opening of the Istanbul Apparel and Fashion Fair, organized by the Istanbul Apparel Exporters' Association.
Bolat said the fair, held under the name Istanbul Fashion Connection (IFCO), was being organized for the 10th time, adding that IFCO and the Texhibition fairs had become among the largest fairs in Europe. He said Türkiye had become a center for trade fairs, while Istanbul had become a center for fairs and fashion.
Textile and apparel exports exceed $17.5 billion
Bolat said Türkiye's textile and apparel sector had an industrial history spanning approximately 150 years. He noted that the sector began with yarn and fabric exports in the 1970s and developed through garment manufacturing and ready-to-wear apparel after the 1980s.
Bolat said textile, apparel and home textile exports totaled around $31 billion last year, accounting for 3.6% of global exports. He said exports had exceeded $17.5 billion in the first seven months of the year and that he expected them to accelerate during the remainder of the year.
Bolat said Türkiye was the world's seventh-largest supplier in textiles and apparel and the third-largest supplier among European countries. He added that the sector contributed to exports through its quality, technology, rapid delivery, design and brand value.
Ready-to-wear exports rise to four countries
Bolat announced that ready-to-wear exports to Iraq, Jordan, Bulgaria and Russia had increased by more than 20%. He said European Union countries were Türkiye's largest ready-to-wear market, adding that Germany, the Netherlands, Spain, the United Kingdom and the United States were among the leading markets.
Bolat recalled that IFCO had been granted “Prestigious Fair” status and said the participation support for the fair had consequently been raised to 70%. He added that the same support was also being provided for Texhibition and said ministry support for international fairs would continue.
New model to be implemented on October 1
Bolat said a one-percentage-point increase in growth in the European Union economy could raise Türkiye's exports by 2.5%, adding that they wanted European economies to recover.
Bolat said high inflation was one of the consequences of developments that began with the COVID-19 pandemic. He noted that inflation reduced consumers' purchasing power, increased producers' costs and weakened competitiveness, adding that rediscount loan support had cut exporters' financing costs by half.
Bolat announced that the Central Bank would introduce a new model on October 1, saying labor-intensive sectors and areas that provide value-added production and employment would be prioritized.
Business community emphasizes production and exports
Mustafa Gültepe, president of the Turkish Exporters Assembly, said production and exports were two indispensable elements for Türkiye. Gültepe said Türkiye's exports were approaching $278 billion, adding that they did not consider this level sufficient and that at least half of growth should come from production and exports.
Gültepe said industry needed different forms of support and noted that they expected the new Medium-Term Program to place greater emphasis on the issue. He said fairs not only brought buyers and sellers together but also created an international ecosystem.
Şekib Avdagiç, president of the Istanbul Chamber of Commerce, said the gap between inflation and the exchange rate was putting exporters under pressure. Avdagiç said foreign nationals' shopping in Türkiye and spending with foreign credit cards had declined, while spending by people from Türkiye abroad had increased.
Avdagiç said the exchange rate was also putting pressure on tourism and that the perception that “Türkiye is expensive” posed a risk for goods exports, shopping and tourism. He said they expected a balancing approach to increase exports and keep imports under control.
Erdal Bahçıvan, chairman of the Istanbul Chamber of Industry, said Türkiye's industry and industrial exports needed a different perspective in the new Medium-Term Program. Bahçıvan said Turkish industry should not be sacrificed while the fight against inflation continued.
IFCO aims to make Istanbul a global fashion hub
Mustafa Paşahan, president of the Istanbul Apparel Exporters' Association, expressed his satisfaction that IFCO was being held for the 10th time. Paşahan said the fair had become an international platform connecting design with production, brands with buyers and vision with trade.
Paşahan said they aimed to make Istanbul a global fashion hub, adding that the fair hosted global buying groups and visitors from different countries. He said the ready-to-wear sector was of strategic importance to Türkiye's economy through value-added production, employment and exports.
Following the speeches, the opening ribbon was cut in the presence of Istanbul Governor Davut Gül, Turkish Exporters Assembly President Mustafa Gültepe, Istanbul Chamber of Commerce President Şekib Avdagiç, Istanbul Chamber of Industry Chairman Erdal Bahçıvan and sector representatives.
