Business

Turkey’s Textile Industry Aims To Be Among Global Top Three

Turkey’s textile industry that has increased its share over the past years in global trade aims to become one of the top three players in the world market. “We already reached our target, which we set out four years ago, of making Türkiye one of the top five textile exporting countries. We overtook countries like South Korea and Italy to claim the fifth spot. Now, we are aiming to become one of the top three,” said Ahmet Öksüz, president of the Istanbul Textile and Raw Materials Exporters Association (İTHİB). The local industry has increased share in global textile exports to an all-time-high of 3.6%, according to Öksüz. Despite the challenges in the world economies, the Turkish textile sector managed to become the fifth largest supplier, he said, adding that investments in the local textile industry exceeded US$ 2 billion in the past three years. “Those investments will help Türkiye achieve its target of becoming one of the top three textile exporting countries in the world.” The Turkish textile companies are exporting their products to more than 200 countries, according to Mustafe Gültepe, president of the Turkish Exporters’ Assembly (TİM). “Textile and apparel exports amounted to US$ 24 billion in the first nine months of 2022,” said Gültepe, adding that he is confident that exports could exceed US$ 32 billion this year. They were speaking at a ceremony where top exporting textile companies received awards. The country’s textile industry has the potential to climb up in the global league and may become the top player in the market, said Industry and Technology Minister Mustafa Varank, who attended the event.