TURKISH EXPORTERS EYEING NEW MARKETS IN LATIN AMERICA, AFRICA

SAO PAULO/ANKARA, July 22 Asia Pulse - Latin America and Africa are new bright spots for Turkish exporters after a contraction in conventional markets due to global economic crisis.

Turkish exports fell to an annual volume of around US$100 billion this year from last year's US$132 billion of exports.

Turkish exporters are now seeking new markets to overcome difficulties stemming from market contraction, especially in Europe.

For this purpose, Turkish businessmen led by State Minister for foreign trade Zafer Caglayan, travelled to Latin America last week on a tour covering Chile and Brazil.

Turkey is willing to sign a free trade deal with Mercosur zone which includes Brazil, Argentina, Paraguay and Uruguay, however, Turkish Exporters' Assembly Chairman Mehmet Buyukeksi said talks on a possible deal had not been satisfactory for Turkey.

"There is a 3.5 per cent customs duty on imports from these countries due to customs union deal that Turkey signed. But we are burdened by the 30 per cent duty on Turkish exports to such countries," Buyukeksi said.

Buyukeksi said Turkey could work together with Latin American countries on trade with Central Asia which is considered the new market for the world.

"They have the chance to reach Kazakhstan or Uzbekistan through Istanbul," he said. "This advantage could reflect onto our trade."

Buyukeksi also said that Turkish companies mostly sell automotive and spare parts, iron and steel, textiles and chemical materials to Latin America, especially to Brazil.

"We have to improve trade with Brazil. We aim to increase our bilateral trade volume in three years to US$5 billion from US$1.7 billion," he said.

"Potentially, Africa is an easier and untouched market but Latin America is important too. But it is a much more difficult market for us due to trade balance which is disadvantageous for Turkey," he said.