Turkish automotive suppliers association, Taysad, says the importance of components to the country’s export sector can be gauged by its proportion of overall shipments overseas.
The auto sector in Turkey – by far the country’s largest industry – accounts for US$29bn of exports but the 250 suppliers present in the country also contribute heavily to helping the balance of payments.
Go deeper with GlobalData
“In 2017 we have been champions in export and we speak about US$29bn export – US$9bn of this is due to automotive parts and components,” said Taysad board member and Valeo Turkey managing director, Tuna Arinci at the recent Automechanika Fair in Istanbul.
“We want to be sustainable – that is why we want to have good relations with target markets. The most important thing to be successful in export is to be open to new markets – we are convinced in 2018 the situation will not change.
“We want to indicate to everybody our potential – we are [also] working in the field of design technology and supply. We want to develop Turkish industry and give added value [and are also] working with foreign automotive components and parts producers.
“We are working in support of international relations and we believe the [automotive] sector is a sector which has potential to develop. Successes are due to the industry and suppliers – we are really full of hope for the future.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThis year’s Automechanika Istanbul reflects a robust aftermarket in the country, with 1,350 companies participating from 38 territories, while IKCO’s presence from Iran demonstrates the geographical importance of Turkey as a crossroads between Asia and Europe.
Turkey’s economy is growing strongly despite the much-publicised failed coup d’etat in 2016, while the migrant crisis which saw huge flows of refugees transit Turkey to the West, has largely abated, thanks in part to European Union initiatives.
GDP growth of 23% in the last decade has been fuelled by an extremely strong automotive sector, with nine foreign OEMs using Turkey for significant export potential.
“The automotive sector is considered a catalyst in the economy and is linked to petrochemicals and steel,” added Istanbul Chamber of Commerce general secretary Hasan Uluc Hacihasanoglu at the Automechanika Fair. “[It also] contributes to employment and tax revenue.
“As the Istanbul Chamber of Commerce we have been participating in Automechanika [here as well as in] Dubai and Buenos Aires.”
Automechanika Istanbul is the world’s third largest automotive exhibition and is organised with the Turkish Ministry of Economy.
The importance of the Fair to the government could be gauged by Ankara hiring 110 coaches from 28 Turkish cities to bring unions and Chambers of Commerce to Istanbul.
