Mr Zafer Caglayan economic minister of Turkey said while speaking in the parliament that Turkey's export value has reached 55.3% of its import value and Turkey aims to increase this percentage further.

Mr Caglayan said underlining that the Turkish government is about to make very important decisions regarding incentives for exports like many other countries, Turkey will support high value added and high technology products. The incentive system will be completed by the end of this year.

He pointed out that Turkey is one of the countries which imports the most iron, steel and scrap regarding the incentive system in question, the iron and steel sector which is among the sectors with the largest external trade deficit would be the focus of special strategic investments.

According to the latest data provided by the Turkish Statistical Institute, in the first 10 months of the current year, Turkey's iron and steel imports totaled USD 17 billion in value while the export value for these products reached USD 9.3 billion.

(Sourced from Steel Orbis)
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