Çetin Tecdelioğlu, chairman of the Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB), has discussed the effects of the earthquakes in the southeastern region of the country and the market conditions on Turkey’s exports.
In the January-February period of this year, Turkey’s iron and non-ferrous metal exports decreased by 13 percent year on year to $2 billion. Mr. Tecdelioğlu, stating that he thinks that it is not right to attribute the entire decline in exports to the earthquakes, said that the effect of exchange rate policy, interest rates and uncompetitive energy prices has been significant. He also stated that there is an increase in imports due to low exchange rates and added that a change in the interest rate-exchange policy is required for exports to reach targets. Recalling that energy prices have decreased by 15-25 percent, Tecdelioğlu stated that Turkey is still not able to be competitive globally and that a competitive energy price tariff needs to be imposed as soon as possible.
Saying that the domestic market will revive with the start of the reconstruction of the earthquake-hit zone, the IDDMIB chairman stated that there is enough capacity to meet the demand and that there will be no need for imports.