Yusuf Öksüzömer, chairman of
Turkey's Association of Machinery Manufacturers (MIB), has stated that
Turkey's machinery
manufacturing output in 2011 is expected to reach $26.2 billion, increasing by $8.8 billion year on year, while its total machinery exports for the year are foreseen to amount to $10.8 billion in value. Speaking at the 6th SteelOrbis Turkish Steel Market Conference held in Istanbul on November 18, Mr. Öksüzömer said that
Turkey's machinery imports this year are expected to be worth $25.6 billion, compared to $18.6 billion in 2010. The country's machinery exports were worth $8.6 billion in 2010. Öksüzömer underlined that developed countries account for 70 percent of
Turkey's machinery exports. Referring to the economic downturn in the EU and the US, he stressed the significance of free trade agreements with emerging countries.
Mr. Öksüzömer underlined that even developed countries have high machinery import levels, adding that the important thing is to specialize in certain fields, rather than being the best manufacturer in all fields. He also stated that
Turkey offers quality at competitive prices, especially in sheet processing equipment and machine tools.
The MIB official went on to say that no great progress is expected in the Turkish machinery
manufacturing industry in 2012, and that, considering the uncertainty in the global economy, overall stability is anticipated in the coming year. Recalling that Turkish machinery manufacturers are largely composed of small and medium enterprises (SMEs), Mr. Öksüzömer said that the greatest weakness of the SMEs is their lack of access to loans. He indicated that the uncertainties in the global economic balance make it difficult for SMEs to secure loans. He added that the fact that machinery cannot be provided as security in loan contracts makes it even more difficult, underlining that some measures should be taken to make loan access easier for the machinery industry.