Turkish Textile Companies and Government Support

In the last decade, Turkish textile companies have been able to make great progress in the textile industry and enter vast export markets in all parts of the world.

These successes happened in various sectors of the Turkish textile industry such as the production of natural and synthetic fibers and yarn, the production of textile flooring and carpets, the production of quality fabrics with international standards, all types of clothing, nonwoven textiles, technical textiles and…

But these developments of Turkish textile companies have an important and fundamental factor in addition to various reasons, and that is the excellent support of the Turkish government for exports and the new transitory capital of Turkish textile companies.

These supports are carried out in various banking, tax, export incentives, etc., but the most important of these supports can be considered excellent incentives and subsidies to attend international textile and clothing exhibitions around the world. This support is organized by the Turkish government and It is done by introducing a large number of export target countries every year.

According to these subsidies for attending the international exhibition, Turkish textile companies can receive 50-70% of the costs of their participation in international exhibitions, which includes the cost of renting a booth and exhibiting goods, even include plane tickets and hotel accommodation, and they receive it from the government after the end of the exhibition.

Turkish textile companies have been able to accept a higher risk to travel to all corners of the world and find new customers for textile export goods made in Turkey due to these supports, and this point has caused the good annual growth of Turkish textile exports.

In 2021, Turkish textile companies were able to increase their exports to their highest figure of 12 billion and 900 million dollars and take the rank of the fifth best exporter of textile goods in the world.

The Turkish government optimizes its exhibition support mechanism every year and adds or removes new countries to the list of target markets every year according to the economic conditions of the world and relations with the countries of the world and the current needs of the export markets.

Attractive and large markets such as the American market are always at the top of the support of the Turkish government, and recently, with the growth of several hundred percent of furniture, home textiles, and machine-made carpets from Turkey to the United States, the Turkish government has strengthened its support.

Interestingly, this support even includes the rent of offices, stores, and warehouses for machine carpets and furniture, and currently, many Turkish companies have directly set up direct supply stores in the United States.

In recent years, due to the significant increase in the price of foreign currencies in Turkey and the increase in economic risks, Turkish textile companies have strongly moved towards the export markets and outside of Turkey so that they can keep up with the market by increasing their dollar and foreign exchange earnings. Compensate the heavy blows of Turkey’s inflation through exports.

Currently, the markets of Europe, America, Africa, and the Middle East countries are among the most important export destinations for the goods of Turkish textile companies.