TIM EYES RAISING FOREIGN TRADE VOLUME WITH U.S.

The Turkish Exporters Assembly (TIM) aims to increase the foreign trade volume with the U.S. to USD 100bn, according to Ismail Gulle, Chairman of TIM. The assembly has launched efforts to establish a logistics center in the U.S. Meanwhile, TIM has begun state-level analyses for Turkish exports to America in order to determine the right location of the logistics center. The most significant increases in exports to the U.S. were observed in the steel sector (amounting to USD 430.8m, a 59% increase), the jewelry sector (totaling USD 485.2m, an increase of 54.5%), the carpet sector (valued at USD 932.3m, a 40.2% increase) and the apparel sector (amounting to USD 793.6m, a 22.6% increase). Total exports to the U.S. have exceeded USD 10bn per year.