Union of Chambers and Commodity Exchanges of Turkey

TOBB Board Member Zeki Kıvanç, after his opening speech, informed the Council Members about the work done by our Union on the current problems of the sector since the last Council meeting and the negotiations with the Public.

At the meeting, where the 2022 developments of the ready-to-wear sector were evaluated in detail, the expectations of the Council Members for 2023 were consulted. Noting that the contractions that are likely to be experienced in export markets due to the ongoing economic problems in Europe and the USA, which are the largest export markets, will last until mid-2023, Council Members stated that they foresee a decrease in export figures and that 2023 will be difficult for the sector.

It was emphasized that difficulties in accessing finance continue to a large extent and cost increases due to energy, labor, raw materials and transportation are likewise still present. Due to the fluctuations in exchange rates and the Euro-dollar parity, the price advantage against competitors was lost and the sector faced the danger of losing the market.