Turkey’s iron and steel sector to benefit from special strategic investments

Tuesday, 13 December 2011 17:54:31 (GMT+3)   |  
       

Speaking in the Turkish parliament, Turkish Minister of Economy Zafer Caglayan has said that Turkey's export value has reached 55.3 percent of its import value, adding that Turkey aims to increase this percentage further.
 
Underlining that the Turkish government is about to make very important decisions regarding incentives for exports, Mr. Caglayan said that, like many other countries, Turkey will support high value-added and high technology products. He also stated that the incentive system will be completed by the end of this year.
Pointing out that Turkey is one of the countries which imports the most iron, steel and scrap, Mr. Caglayan stressed that, regarding the incentive system in question, the iron and steel sector, which is among the sectors with the largest external trade deficit, would be the focus of special strategic investments.
 
According to the latest data provided by the Turkish Statistical Institute (TUIK), in the first 10 months of the current year, Turkey's iron and steel imports totaled $17 billion in value, while the export value for these products reached $9.3 billion. 
 

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