Turkish steel exporters mull Iran as alternative route to Iraq

The Turkish Steel Exporters' Association (CIS) has announced that, at a meeting in Iskenderun hosted by Iskenderun Chamber of Commerce and Industry and including the participation of the Foreign Economic Relations Boards (DEIK) Turkish-Iraq Business Council, the parties discussed the recent developments in Iraq relating to the Islamic State of Iraq and the Levant (ISIL), a.k.a. Islamic State, as well as possible solutions.
 
Speaking at the meeting, CIB chairman Namık Ekinci said that Turkish exports to Iraq, Turkey's biggest export market, have witnessed significant declines due to recent developments in Iraq. During the January-July period this year, the value of Turkey's steel exports to Iraq decreased by 20 percent year on year to $891 million. Mr. Ekinci stated that Turkey's most exported steel product to Iraq is rebar and that Iraq holds greater potential for the Turkish steel industry, adding that the elimination of negative developments in Iraq will enable Iskenderun, which is the heart of the Turkish steel industry, to obtain an important share of Iraq's potential.
 
Mr. Ekinci said that Turkish exporters are mulling the establishment of warehouses in Basra and Kuwait and shipping exports to Iraq via these warehouses. The CIB chairman underlined that the opening up of transportation via Iranian highways gives an advantage to Turkish exporters, providing alternative routes for exports to Iraq. He also recalled that China with its "dumped goods" is the main competitor of Turkish exporters in the Iranian market.