The Turkish textile industry has seen a slow down its activities as the cheaper labor force and energy costs in China and India, along with high value of New Turkish Lira (YTL) negatively impact the local market.
One of the premier firms in the Turkish city of Bursa, Sonmez Textile withdrew from the sector, and the Akkok Group stopped its manufacturing activity at Yalova Akal Textile.
Head of the Turkish Textile Industry Employers Syndicate, Halit Narin assessed the recent situation of textile; ?ut of courtesy, nobody can say it has shrunk, but is gradually dying.?
Istanbul? Read-to-Wear and Ready-Made Exporters Union (ITKIB) President Suleyman Orakcioglu described the issue as an indicator of losing competition power, while Sanko Holding? CEO, Abdulkadir Konukoglu claimed the closures are normal due to the low rate of exchange and unfair competition conditions.
The increase of Turkish export slowed down to six percent from 34 percent, Orakcioglu reported and the situation is not only of concern to the Turkish textile sector but worries the entire Turkish manufacturing sector as well.
Export might even be negative, the ITKIB President said; but they previously issued notices regarding the matter and informed the decision-makers of Turkish economy, though failing to encounter a positive approach. Konukoglu, on the other hand, remarked exporters have difficulty due to the high manufacturing input and the low dollar.
