The exports strategy of turkey for 2023

“Turkish Exports Strategy for 2023” was initiated by the Ministry of Economy and Turkish Exporters Assembly in 2009. The main purpose of this strategy is to reach 500 billion dollars of export volume in 2023, the centenary anniversary of the Turkish Republic, with an average of 12% increase in exports annually.

Becoming one of the world's 10 largest economies in 2023 and taking 1,5% share from the world's trade are also being targeted. Furthermore, it is planned to reach 80% export/import ratio in 2023.

This strategy has a long term perspective rather than focusing on short term targets. In order to reach the long term targets, the new strategy encompasses both production and export components. In this respect, the export strategy of Turkey establishes a production plan for export performance. Basic elements of this strategy are shifting production from low technology sectors to high value-added areas and achieving new investments in high-tech sectors.

In order to reach these goals of the strategy; some crucial actions, being implemented by Turkey are:

Carrying out projects on R&D and development of international competitiveness in order to increase sectoral export capacity.
Increasing the number of national participation to international fairs, general and sectoral trade delegations and buying missions in target markets.
Implementing sectoral and country based diversification strategy in export composition.
Focusing trade activities on target markets.
Enhancing the export capacity of SME' s
Increasing the number of global Turkish brands in the world.
Making Istanbul an international fashion, fair and trade center.
Providing crucial inputs for exports.
Creating sectoral clusters for gaining competitiveness in international markets.
Improving in logistic facilities of Turkey.
Developing new export finance tools.

In summary, “Turkey's Export Strategy for 2023” aims modern and flexible export structure that is based on advanced technology and R&D (research and development) to respond to the demands of today's and future's business environment by modernizing the structure of our exports.

source: https://www.economy.gov.tr

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Tags: Exports, 2023, Strategy, Turkey