The Turkish Automotive Supply Industry is continuing to invest at full pace

TAYSAD’s directors met with the German press at the 2016 Automechanika Fair in Frankfurt. Speaking at the opening of the meeting, TAYSAD Vice President Perihan İnci said that despite the attempted coup, export figures showed that Turkey’s industrial sector was still running like clockwork. She remarked, ‘In the first eight months of 2016, our automotive industry saw a 12.2% increase in export trade, becoming Turkey’s leading export with a total export figure of 15.14 billion US dollars. Our supply industry exports have reached 6.15 billion US dollars, a 7% growth compared to last year. The automotive supply industry makes up 40% of all automotive exports.’

She continued: ‘Turkey is a country with great potential in every aspect and economic data is the most significant indicator of this. Turkey is notably the second fastest growing economy of OECD countries and the fourth fastest among the G20. Following on from growth of 2.9% in 2014 and 4% in 2015, Turkey achieved growth of 4.8% in the first quarter of 2016. Today, two months after 15 July, we can see that during a period that no country could have easily overcome, Turkish industry fulfilled all its production commitments in full and without exception. As representatives of the Automotive sector, Turkey’s most important export area, we are on top of our game. We are continuing our partnerships and investments in European countries and Germany in particular. Our European stakeholders placed their trust in us and the Turkish automotive supply industry did not let them down.’

Germany in top place for Turkish automotive exports

TAYSAD’s vice President went on to say, ‘In 2016, between January and August, Turkey’s automotive exports to Germany totalled 2.537 billion US dollars, putting Germany in the leading position. Looking back at the first eight months of the year, we can see export growth of 18% in Germany, 44% in Italy, 22% in Spain and 71% in the Netherlands. Contacts with European countries need to be increased. As representatives of the Supply Industry, we have not allowed any delays or fall-backs in the action plan we put in place for 2016.

There are no significant risks affecting our sector and in fact, quite the opposite is true: our investments are starting to bear fruit. Now we are accelerating the pace and continuing to invest together with our partners. There are approximately 49,000 foreign companies operating in Turkey. From 2013 to the present day, 168 billion US dollars of direct foreign investment has been made in Turkey, making it one of the top 20 countries in terms of attracting foreign capital. Foreign investors and all our stakeholders abroad can assess Turkey’s potential, along with its speed and ability to do the job, and use it to create opportunities for themselves. We are continuing to invest in Research and Development in Europe, particularly in Germany, because as a country we believe in Europe and support its industrial advancements. I believe we will see the same belief and support from the European states and our European partners.’

“Our trust in Europe should be reciprocated”

TAYSAD Board Member Hayri Kaya, who also took the floor at the meeting, said, ‘Turkey fulfils its commitments to the European Union with great care and great determination. As representatives of the Automotive Sector, Turkey’s most important export area, we can say that together with both our main industry and the supplier side, we want to strengthen our economic integration with European Union countries. In this context, Turkey is building on its existing relations with EU countries and making extraordinary efforts to increase mutual investments. We expect positive support and cooperation from the EU countries in order to achieve a reciprocal increase and strengthening of the trust that has been established in these countries. Support for the ongoing negotiation process with Turkey and recognition of the right to free movement in the EU for Turkish citizens, which is important for the business world, will lead to mutual economic, political and social gains.’

Ole von Beust, German representative of The Republic of Turkey Prime Ministry Investment Support and Promotion Agency (ISPAT) spoke about the investment climate and business opportunities in Turkey: “Despite the political debates: Turkey is an economically stable country with a growing economy. German companies active there are pleased without exception. Foreign investors get every support and a hospitable welcome. Legal certainty in the economic sector is ensured beyond doubt.”

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