Turkey rolls out new exports program as investment demand increases by 13%

Turkey on Thursday launched a new program to boost the country's value-added exports, aiming to support firms in expanding their production capacity. While investment demand this January to September was 13% higher than the same period last year.

Announcing the program, Trade Minister Ruhsar Pekcan said the pilot scheme would start in the southern provinces of Adana and Kahramanmaras, the central Konya province, the western Manisa province and Samsun province on the Black Sea coast.

Pekcan said that as part of the program, which had been prepared at an earlier date but was postponed due to the novel coronavirus pandemic, officials had surveyed 40 provinces for potential exporters.

"We've determined 7,277 firms across 40 provinces. These are companies that are unable to make exports even though they have the output capacity and whose production is suitable for exports," she said.

In the second phase of the program that covers 70 provinces, the ministry determined 11,444 potential exporters, said Pekcan, underlining that efforts for the total 81 provinces across the country would also be completed rapidly.

Once the companies that are to take part in the program are chosen, studies will be conducted on the obstacles that prevented them from making exports, as well as their expectations from the program, she explained.

The ministry will then match these firms with mentors, Pekcan said, adding that the ministry has been providing all companies with general training, while this program includes one-on-one coaching.

"Within the scope of the program, our mentors will work together with firms during a six-month period to remove obstacles," she said.

"There is no safer source in export than experience," she said, underlining that by working with local firms, the number of exporters would rise.

She said the government would enable companies to produce high-tech products and take part in the pilot scheme. "We'll start by selecting the companies that meet the program's data prerequisites.

"Then, we'll hold one-on-one needs analyses with each company. At the end of six months, we'll evaluate the program and determine the road maps suitable for our firms in 81 provinces."

Turkey's exports were $171.53 billion in 2019, falling to $135.65 billion in the first 10 months of this year.

As of October 2020, Turkey has 42,559 exporter firms.

In a related context, investment demand in Turkey this January to September was 13% higher than the same period last year, the country’s industry and technology minister said.

At 73%, the manufacturing sector accounted for the lion’s share of the demand, Mustafa Varank said on Twitter.

“Confidence in Turkey’s present and future is increasing,” he said.

Some 13% of the investments are in the energy sector, followed by the services industry at 10%, and agriculture and mining with 2% each.

Based on AA