AKİB Achieves Exports Worth $1.49 Billion

Mediterranean Exporters Associations Records USD 1.49 Billion in Exports Mediterranean Exporters Associations (AKİB) Coordinating Chairman Nejdat Sin announced that the association achieved USD 1.49 billion in exports in February, representing a 50 percent increase compared to the same month of the previous year. Chairman Sin emphasized that they continue to add new success stories in 2022, as they did in the previous year, stating: "As in January, in February we were the association with the highest foreign sales growth among the 14 general secretariats across Turkey. While we reached the highest export values to Iraq, the Netherlands and France markets, we achieved increases reaching up to 18 times in Singapore, France and Lebanon markets." Chairman Nejdat Sin noted that the conflict between Ukraine and Russia, with which Turkey maintains strong trade relations, directly affects exporters in the AKİB region, stating they are following developments with concern and are coordinating with state institutions and relevant organizations to minimize the effects of the tension. Wishing for the tension dragging the Black Sea basin into instability to end as soon as possible, Chairman Sin said: "We are working in coordination with our Ministry of Commerce, and in cooperation with the Turkish Exporters Assembly (TİM) and the Foreign Economic Relations Board (DEİK) to ensure payments for our exporters and enable our shipping companies to continue their operations using alternative routes."

"Our receivables melted by more than 40 percent"

Chairman Sin noted that in last year's USD 16.32 billion exports by AKİB, Russia ranked fourth with USD 705 million and Ukraine ranked 20th with USD 242 million, saying: "Both Russia and Ukraine are among our association's main export markets. Our trade with these countries is mostly conducted in national currencies and on deferred payment terms. With the emergence of the conflict, the flow of money from both countries nearly came to a standstill, and due to significant currency value losses, our receivables melted by more than 40 percent. We are concerned that our losses will increase further if the war continues. We expect support from our government to prevent losses of our exporting companies in the Ukraine and Russia markets."

"Steps taken in accessing financing are raising our motivation"

Chairman Sin noted that apart from disruptions in supply chains, the increase in energy and basic commodity prices has become a global problem, and that steps taken to preserve Turkish exporters' competitiveness in international markets against these negative developments are raising exporters' motivation. "The launch of the first support package by Turkey's Export Credit Bank with the aim of creating a TRY 22 billion credit volume and the opening of applications for total TRY 60 billion Credit Guarantee Fund (CGF)-backed investment, export and operating expense support will provide significant relief in access to financing for our exporting companies. Along with all this, we hope that our demands for increased medium and long-term rediscount credits from Central Bank sources for new export-oriented investments will be finalized in the near future," he said. "We exported the most in chemicals, ferrous and non-ferrous metals, and grains and legumes" Chairman Sin, noting that all 8 main associations in the region demonstrated success in increasing exports in the second month of the year, said: "As AKİB, in February we achieved our highest exports in chemicals with an 84 percent increase and USD 440.5 million value. In ferrous and non-ferrous metals we reached USD 374 million with a 38 percent increase, and in grains, legumes and oilseeds we achieved USD 186.6 million value with a 72 percent increase. In the same month we recorded USD 146.5 million in fresh fruits and vegetables exports with a 22 percent increase. We achieved USD 117.8 million in textiles and raw materials with a 35 percent increase, USD 97.7 million in furniture, paper and forest products with a 16 percent increase, USD 54.4 million in fish products and animal products with a 136 percent increase, and USD 27.3 million in ready-made garments and confectionery with a 16 percent increase."

"The countries we exported to the most are Iraq, the Netherlands and France"

Evaluating AKİB's February exports by country, Chairman Sin said: "This month we achieved our highest exports to Iraq with a 70 percent increase and USD 131.1 million value. The Netherlands ranked second with a 73 percent increase and USD 90.1 million value, and France ranked third with a 331 percent increase and USD 72 million value. On a value basis, we achieved the strongest export growth to Singapore, France and Lebanon markets. We reached USD 52.8 million in exports to Singapore with a 1,874 percent increase and USD 41 million to Lebanon with a 248 percent increase. We also demonstrated notable export performance in the United States, Northern Cyprus and Libya markets," he said.   Source