ECONOMY

Turkey giving $570M support for exporters in 2019

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Turkey will support Turkish exporters with 3.1 billion Turkish liras ($570 million) in 2019, the nation's trade minister announced on Friday.

"We designed all of our export support to develop fields which contribute to Turkey's export potential," Ruhsar Pekcan said in a press release.

She stressed the support would accelerate the country's exports by encouraging value-added exports.

In 2018, despite global trade wars, an economic slowdown, and increased geopolitical risks, Turkey hit $168.1 billion in exports, a historic high, she said.

Telling how the ministry supported 12,555 firms in 2018, she said: "Technology, branding, and design, which were our priorities, took the biggest share of our budget with 861 million Turkish liras ($159 million) in 2018."

Some 600 firms' technology, branding, and design activities were supported in 2018, and in the new era more firms will be supported, Pekcan underlined.

Some 8,700 firms were supported with 520 million Turkish liras ($96 million) for international fairs in 2018, while 120 million liras ($22 million) in support was used for exporting firms' ads, branding, office, shop, and warehouse expenses, she added.

In 2018, the ministry also spent 80 million Turkish liras ($14.8 million) on market research, e-commerce website memberships, procurement committees, and acquisition financing.

She said, in addition, that last year firms' mandatory documents and competition projects were also supported with 80 million Turkish liras ($14.8 million).

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