As a result of the ruling party, Turkey has recently encountered numerous conflicts with European countries and the Middle East that have resulted in many market losses. For example, Russia as a result of the downing of a Russian airplane, Saudi Arabia as a result of the murder of a Saudi journalist in the Saudi embassy in Istanbul, Egypt as a result of the Muslim Brotherhood organization and what Egypt views as Turkish meddling in its internal matters, etc.
Turkish Textile Exports Under Market Pressure
Due to unwritten prohibitions on Turkish textile products in the beginning and all products made in Turkey generally, this trend has angered Turkish traders and exporters for years despite Egypt and Saudi Arabia being particularly profitable markets for Turkish goods.
However, given that the worldwide economic crisis brought on by the coronavirus and the depreciation of the Turkish currency is both concurrently affecting the foundation of the Turkish economy, the Turkish government cannot endure the loss of its export markets.
To give re-entry for the vanished Turkish market, the political authorities of Turkey actively worked to reinstate relations to the pre-existing situations, re-establish deep commercial and diplomatic links with Israel, Saudi Arabia, and Egypt, and even enhance relations with Syria.
Rising Competition Threatens Turkey’s Textile Market Share
Although some of the ruling party’s followers in Turkey who work in the textile and apparel industry have up till now approved these laws, a greater portion of the country’s private businesses do not bear these tense attitudes and think such a policy is unnecessary. Over time, it will result in Turkey losing its export markets. Markets where Turkish businesses have yet to establish themselves.
The clothing brand made in Turkey is a trusted brand in the modern world, and Turkish textile and clothing product lines are viable regarding price, quality, and fashion. However, many rivals have emerged to reclaim the markets. In the markets of Europe, the Middle East, and Africa as apparel suppliers, Asian nations like China, India, Vietnam, and Bangladesh, and even North African countries like Egypt, Morocco, and Tunisia, can be a competitor to Turkey.
It will be interesting to watch whether the Turkish government decides to pursue a reasonable and sensible approach over inflaming existing political tensions in the next years, as well as if this will positively or negatively affect the export of Turkish textile and apparel items.
