Turkish textile workers eye Iranian market

Baku, Azerbaijan, July 28

By Rufiz Hafizoglu - Trend:

Iran is a huge market for Turkish textile sale, Seref Fayat, chairman of the Turkish Textile Association, told Trend.

"As a result of the sanctions imposed against Iran, it is difficult to export goods to the country, as well as make investments," he said.

He said that more than 60 percent of Iran's population is people under 30 and this is a real chance for textile companies.

"Turkey has increased the export of textile products to Iran since January 2015," he said.

After Tehran and Six international mediators reached a historic agreement, the Turkish textile exports to Iran increased by 30 percent.

"Turkey has an advantage in the field of logistics and delivery of textile products to Iran, compared to many countries," he said.

"It is expected that following the lift of sanctions, the construction of shopping malls with increase in Iran and Turkish textile workers should seize this opportunity," he said.

Fayat said that currently, 20 branded Turkish textile companies operate in Iranian market and it is possible to increase their number to 500 in three years.

But lift of sanctions imposed on Iran doesn't mean that all the obstacles to investing in this country will be eliminated, he said.

Fayat added that currently, the World Bank has a list consisting of 189 countries where investments can be made without hindrance and Iran ranks 130th in this list.

He believes that in order to provide economic stability in Iran, there shouldn't be political interference in economy.

"On the other hand, it is necessary to make amendments in Iran's law on producers' copyright," he said. "Many [foreign] textile brands in Iranian market become victims of counterfeit Iranian products as before."

Over 100 Turkish companies were operating in Iran during the period of sanctions against this country, according to Turkish Economy Ministry. Moreover, 38 Turkish companies operate in the Aras free economic zone alone.

Iran and P5 +1 (the US, UK, France, Russia, China and Germany) reached a historic agreement on Iran's nuclear program July 14.

The negotiations ended with adoption of a joint comprehensive action plan. If Iran carries out this plan, the economic and financial sanctions earlier imposed on it by the UN Security Council, the US and EU will be lifted.

Edited by SI

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Follow the author on Twitter: @rhafizoglu

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