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EconomyThe war also had a detrimental effect on Turkish trade

The war also had a detrimental effect on Turkish trade

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The war between Russia and Ukraine cut off the trade in clothes, shoes, textiles and leather goods, which are the main goods that Turkey exports to the Russian and Ukrainian markets, BTA reports.

According to the Chamber of Turkish Exporters, Turkish exports to Russia in 2021 amounted to 718 million dollars, and to Ukraine – 308 million dollars.

“In February 2022, lucrative contracts were signed at exhibitions in Kyiv and Moscow. But the war led to their cancellation. Orders from Ukraine stopped. The devaluation of the ruble led to the cancellation of contracts with Russia,” said the chairman of the directorate. the clothing and ready-made clothing sector of the Association of Turkish Chambers of Commerce and Stock Exchanges Sheref Fayat.

In the first week of the war, losses from canceled orders from those sectors of the Turkish economy alone reached about $ 200m. It is estimated that the losses could exceed $ 1 billion if the war continues with the same force.

The war led to a zero point, the so-called suitcase (duty-free) trade of Laleli and Osmanbey in Istanbul, because according to industry representatives, the size of this type of trade is several times higher than official exports (about 2.5-3 billion according to some data), which is carried out through customs.

Half of the capacity of the suitcase trade is realized by clients from Russia and Ukraine. Turkey’s traditional clients in the region, including Belarus, Moldova, Romania and Poland, have also demanded that a large number of applications be canceled due to the war.

Representatives of the sector pointed out that with the devaluation of the ruble there were difficulties in payments to Russian buyers – they offered to pay at the old exchange rate, otherwise it would not be possible to make the payment. And private traders in Osmanbey and Laleli claim that there are many goods on the way at the moment, but their fate is unknown, and it is unclear whether they will be able to get their money.

Turkish businessmen in Russia have also fallen into disrepair over the war, according to Sinan Yongel, chairman of the United Brands Association.

According to him, there are more than 650 Turkish brand stores in Russia, but at the moment they are experiencing great difficulties with money transfers.

“Hundreds of pairs of shoes remained in the boxes, as we had prepared them for shipment. But no one – neither from Russia nor from Ukraine is looking for us, does not want anything. It’s war, people are dying and they don’t care about clothes or shoes. Bad, bad, we pray this empty war ends sooner, “said Emir Cengiz, owner of a small shoe store.

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