The Turkish Steel Exporters’ Association (CIB) has stated that, following the lifting of economic sanctions against Iran on January 16, the Turkish steel industry is also expected to increase its exports to the country in the coming period.
In 2010, Turkey’s steel exports to Iran amounted to one million mt. However, with the worsening of embargo conditions, Turkey’s steel exports to Iran decreased to 195,000 mt in 2013, to 166,000 mt in 2014, and to 103,614 mt in 2015, according to the data released by the CIB.
In an interview with Reuters, Namik Ekinci, chairman of the CIB, stated that Iran has the potential to be an export market for Turkey, but also to be a competitor of the Turkish steel industry. Regarding this latter possibility, it is of great importance that the Turkish steel industry should increase its value-added product range immediately and implement investments to reduce costs, added Mr. Ekinci.