By John Lee.
The President of the Istanbul Readymade Clothing and Confection Exporters’ Association (İHKİB) has said the lifting of sanctions against Iran has created huge opportunities for the sector.
Hikmet Tanrıverdi said:
“We have seen a dramatic rise in our exports to our neighbor Iran. While our exports to the Iranian market were $71 million in 2014, this figure rose to $121 million in 2015. We have seen much higher figures over this year, as our exports to Iran hit $237 million in the first eight months of the year with a 219 percent increase compared to the same period of 2015.”
He added that the sector’s annual exports to Iran will likely exceed $300 million by the end of this year.
The İHKİB head stated that there has been a rise in the number of modern-style shopping malls in Iran, in addition to traditional bazaars, fueling expectations of more luxury consumption in the country in the coming period. There will also be many more foreign players in the market, raising competitiveness, he added.
“We should increase our market share immediately,” Tanrıverdi said.
(Source: Hurriyet Daily News)