The Economy Minister of Turkey said on Dec. 26 that things would be much better in 2015.
“We live in such an unpredictable region, where everything can change in a matter of weeks. So many negative developments happened in 2014 that 2015 can’t be worse. We expect Turkey’s trade to recover in the next year, especially with its southern neighbors,” he said at the economy ministry’s annual assessment meeting.
Despite problems in the European Union, Russia and Iraq, Turkey’s largest trade partners, Turkey was able to increase its exports to $131.4 billion in the first ten months of the year, and increase of 5.6 percent over the same period in 2013.
Turkey will close the year with around $160 billion worth of exports, he said.
Positive developments are expected in trade with Iraq, while problems in the Russian market began after the Ukraine-Russia disagreement.
Turkey is in discussion with its Russian counterparts to boost cooperation in many fields, including the agricultural sector. The aim is to abolish trade barriers, and it is expected that Turkey’s exports to Russia and EU markets will most likely increase in 2015.
The Turkish government is now working on a package to offer some $3.5 billion worth of incentives to encourage high-tech exports.