“a Lot of well-known brands have already started negotiations for the production of a new season’s merchandise with us,” explains Hadi Karasu, President of the Turkish Association of textile producers (TGSD) in an opinion, such as the “Handelsblatt” reported. Many Western avoid in view of the rampant Coronavirus‘ of the country and terminate their contracts with Chinese producers. The economy in the middle Kingdom occurs on the site, that leads to falling commodity prices.
China’s economy paralyzed
Straight Chinese textile manufacturers are suffering, according to the report, under quarantine measures and transport restrictions. The ongoing travel restrictions prevented many Employees, after the Chinese new year return to work.
The Turkish textile use, and clothing industry. The country on the Bosporus is the world’s sixth largest producer of cotton. Numerous well-known brands such as C&A, H&M, or Boss in Turkey produce. The Turkish textile industry employs almost one-tenth of all workers in the country.
Hugo Boss to leave 30 percent of its products in Turkey manufacture. C&A is struggling with delays in delivery from Chinese manufacturers.
According to the “Germany Trade & Invest” (GTAI), the society of the Federal Republic of Germany for foreign trade and location marketing, is Turkey a particularly important sales market.
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advantages of the location of power shrinkage
The Situation threatening to tip but. The high wage growth of recent years to increase the price of the Turkish production. This strengthens the competitiveness of cheaper Asian textile manufacturers. “The geographical advantage of Turkish companies over Chinese competitors is because of the new silk road and the development of faster transport routes to the game,” wrote the GTAI in a sector analysis, as stated in the report. Here, on the stock exchange of letters display)
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