Minister of Commerce Ruhsar Pekcan stated that during the period when the effects of the new type of coronavirus (Covid-19) epidemic continue on the global economy, Turkey continues to be in a much better situation and has a positive divergence compared to many countries, and said: “As of the end of this year, especially in 2021, Turkey will continue to have a positive divergence.” “We evaluate that as the conditions in our markets improve, we will be among the most effective and fastest recovering countries.” said.
Minister Pekcan, in her speech via video conference at the “Jewelry Exporters Association Export Leaders” award ceremony, pointed out that the jewelry industry has an undeniable impact on Turkey’s foreign exports.
Stating that she believes that jewelry exporters will play a more active role in the country’s foreign trade despite being affected by the Covid-19 epidemic, Pekcan stated that, as the Ministry, they attach importance to consultation with the business world and are ready to work together with all actors of the sector.
Pekcan emphasized that Turkey continues to be in a much better situation and has a positive differentiation compared to many countries in a difficult period where the effects of the epidemic continue on the global economy, and said, “As of the end of this year, especially in 2021, with the conditions in our foreign markets getting better, the most effective and most “We evaluate that we will be among the countries that recover quickly.” he said.
Pointing out that Turkey is among the few countries with its successful performance according to economic indicators, Pekcan reminded that Turkey achieved 12.4 billion dollars of exports in August, despite the significant contraction of foreign markets.
Increase in gold imports
Pekcan stated that the export-import coverage ratio, excluding gold foreign trade, reached 82.9 percent in August and 83.6 percent in the January-August period, and said, “With the acceleration of the recovery process on a national and global scale, we anticipate reaching performances that will reflect our true potential in our exports as soon as possible. ” said.
Stating that jewelery exports excluding bullion increased by 16 percent last year, Pekcan stated that Turkey continues to be one of the important actors in the world markets in the sector and has a 5 percent share in global jewelery exports.
Pekcan pointed out that there was a 43 percent loss in jewelry exports in the 8 months of 2020, and export losses to countries such as Iraq, the United Arab Emirates and Hong Kong, which are among the main markets, exceeded 40 percent and said, “During the Covid-19 period, some products such as luxury consumption and jewelry “Considering that the demand for products has slowed down or been postponed, we should consider this decline normal. We hope to quickly compensate for this loss in the coming period.” he said.
Pekcan said that gold imports increased by 153 percent in the 8 months of this year and reached 15.1 billion dollars, and continued as follows:
“40 percent of our foreign trade deficit consists of gold imports. We anticipate that with the balancing of global commodity and financial markets in the coming period, our gold trade will enter a more reasonable trend in terms of our country’s foreign trade. We have full confidence and expectations in the work of our jewelry exporters, especially in terms of increasing value-added production and exports.” high.”
Digitalization applications
Pekcan stated that 5 jewelery companies benefited from ministry support within the scope of Design and Product Development Projects and Turquality Support Program, and 1 jewelery company within the Brand Support Program, and stated that they attach importance to all companies in the sector benefiting from Ministry supports and that they are ready to work on new support mechanisms.
Referring to activities such as virtual fairs and virtual trade delegations based on digitalization for exporters, Pekcan gave information about the Easy Export Platform, which was launched on August 28.
Pekcan said that they attach importance to the jewelry industry’s participation in virtual fairs and delegations, and that they anticipate that companies in the sector will take their market strategies further by using the features of the Kolay Export Platform.
Maturity extension for $4 billion loan
Referring to the virtual diplomacy activities carried out during the Covid-19 process, Pekcan said that she met with her counterparts from more than 40 countries and that technical level studies continue rapidly in the virtual environment.
Regarding the work for potential exporters in 81 provinces, Pekcan said, “We do not ignore even the smallest potential in exports and we carry out our work to evaluate each potential.” said.
Emphasizing that Eximbank is also on the side of exporters, Pekcan said, “Eximbank increased its support by 6 percent compared to last year in the January-August period, providing 30.4 billion dollars of support. During the pandemic period, we have extended the maturity of 4 billion dollars of loans of 2,276 companies.” he said.
Pekcan stated that she believes that the jewelry industry, one of Turkey’s leading sectors, will continue to develop faster and contribute to exports, and congratulated the companies that were entitled to receive awards.
