Arab-bound trade shows sharp rise
Güncelleme Tarihi:
by Tutku Ayvaz - Referans
Oluşturulma Tarihi: Mart 07, 2009 00:00
ANKARA - The Turkish Prime Minister’s outburst against Gazza attack in Davos forum, as well as the decline in terrorism and the amelioration of Habur Border Gate increases Turkey’s exports to Egypt, Iraq and Syria.
Turkey’s exports to Egypt, Iraq and Syria have increased significantly recently, as the country focuses on nearby economies less affected by the crisis, in an attempt not to lose income from exports.
Exports to Egypt rose 165 percent on last year, while they rose by 75 percent to Iraq and by 27 percent to Syria, according to January and February data from the Turkish Statistical Institute, or TÜİK.
This trend has been visible since October-November, with the emergence of the effects of the crisis, said Undersecretariat of Foreign Trade, or DTM, authorities, also suggesting some political developments. The outburst of Prime Minister Recep Tayyip Erdoğan in Davos over Israel’s attacks on Gazza, as well as the decline of terrorist acts and the ameliorations at Habur Border Gate are among the factors that have increased exports to these countries. In the upcoming period, new partnerships with Iraq and Syria will come up, such as talks concerning 300,000 house projects in Syria and the Comprehensive Economic Cooperation Agreement with Iraq.
Exports with Iraq
Turkey’s exports to Egypt rose in value from $179 million to $474 million within the first two months of the year. Turkey’s export to Iraq, which was $4 billion according to official figures and $7 billion according to unofficial figures, is expected to surpass $10 billion this year. The export to the country within the first two months of the year rose by 75.5 percent from $473 million to $830 million.
The political climate in Iraq has improved and as such Iraqi citizens import not only food, but also furniture, clothing and construction materials, according to authorities. Moreover, the increase of customs officials at Habur Border Gate and the benefits of the use of electronic customs transactions have played an important role. Transportation costs loom large in terms of the goods exported to Iraq, therefore the speed of Habur is crucial.
A joint framework agreement will be signed in line with the planned visit of President Abdullah Gül at the end of the month. The protocol is expected to revive relations in many areas, such as trade, contracting, energy and transportation.
Contracting business worth $5 billion is expected. Exports to Syria rose from $169 million to $215 million within the first two months of the year. Moreover, Erdoğan’s outburst in Davos has raised Syria’s interest in Turkey.
Exports to Egypt rose 165 percent on last year, while they rose by 75 percent to Iraq and by 27 percent to Syria, according to January and February data from the Turkish Statistical Institute, or TÜİK.
This trend has been visible since October-November, with the emergence of the effects of the crisis, said Undersecretariat of Foreign Trade, or DTM, authorities, also suggesting some political developments. The outburst of Prime Minister Recep Tayyip Erdoğan in Davos over Israel’s attacks on Gazza, as well as the decline of terrorist acts and the ameliorations at Habur Border Gate are among the factors that have increased exports to these countries. In the upcoming period, new partnerships with Iraq and Syria will come up, such as talks concerning 300,000 house projects in Syria and the Comprehensive Economic Cooperation Agreement with Iraq.
Exports with Iraq
Turkey’s exports to Egypt rose in value from $179 million to $474 million within the first two months of the year. Turkey’s export to Iraq, which was $4 billion according to official figures and $7 billion according to unofficial figures, is expected to surpass $10 billion this year. The export to the country within the first two months of the year rose by 75.5 percent from $473 million to $830 million.
The political climate in Iraq has improved and as such Iraqi citizens import not only food, but also furniture, clothing and construction materials, according to authorities. Moreover, the increase of customs officials at Habur Border Gate and the benefits of the use of electronic customs transactions have played an important role. Transportation costs loom large in terms of the goods exported to Iraq, therefore the speed of Habur is crucial.
A joint framework agreement will be signed in line with the planned visit of President Abdullah Gül at the end of the month. The protocol is expected to revive relations in many areas, such as trade, contracting, energy and transportation.
Contracting business worth $5 billion is expected. Exports to Syria rose from $169 million to $215 million within the first two months of the year. Moreover, Erdoğan’s outburst in Davos has raised Syria’s interest in Turkey.