Turkey widens its goal of exports in sector for fasteners in which it is European third.

The goal of the sector is to reach 1.5 billion USD by 2023. Additionally, Turkey exports to 177 countries and completing the year with 500 million USD with a %25 growth, Fasteners Manufacturers and Businessmen Association (BESİAD) president Mustafa Tecdelioğlu has made an evaluation. He pointed that importing decreases by the increase of exports. So, that results with a decrease in the external dependence.

Manufacturing The Crucial Parts for the Market

Turkey produces the crucial parts for industry like bolts, nuts, screws, washers, lock washers and rivets. So fasteners sector has realized its 4th workshop with participation of members of the association and the sector. President of the association Mustafa Tecdelioğlu stated that Turkey is the third biggest manufacturer of fasteners among European countries. It ranks behind Italy and Germany. Also he noted that the market size reaches 1 million tons when the Turkey exports and import figures are collected, Tecdelioğlu pointed that the way is open for the sector for Turkey.

Imports Decrease Exports Increase

Referring the fasteners sector’s external trading balance is fastly turning to the export side, Tecdelioğlu said the imports in this sector have decreased to 230 million usd, while the figure of a few years before was 600 million usd and Turkey is already manufacturing most of the articles that it had to import until now. He said that the external dependence is decreasing more and more while exports are in increase. Having an expectation of completing the year 2018 with 500 million usd, %25 growth and 135.000 tons, he also defined the goal for 2023 is reaching 1.5 billion usd of exports.

Tecdelioğlu said that they managed to come forward in many areas as BESİAD with a wide participation to fairs in Poland and France last year and they have been in a hard work for the advance of the sector. He said the association has reached to a much better point than the beginning with many achievements and the 2019 goal would be bringing the sector to better levels.

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