US Sanctions Against Iran To Combat Turkey's Clothing Exports
In the past 10 years,
Turkey
towards
Iran
Exports surged 12 times, as the bilateral relations between the two countries improved and trade increased, reaching $3 billion 500 million in 2011.
Started in January this year.
U.S.A
The new round of sanctions against the Central Bank of Iran has led to the depreciation of Rio al Iran against the US dollar by more than 50%.
Therefore, the relative cost of Turkey products almost doubled in a few days.
The effect immediately showed that in January 2012, Turkey's exports to Iran overall fell by 25% over the previous month.
At the same time, all banks in Turkey except the state-owned Halkbank bank have stopped processing payments from Iran customers.
The final result is that the Turkey clothing exporters who had expected sales growth before the Persian new year saw a sharp drop in sales and a growing stock.
Ali Ulvi Orhan, head of the Osmanbey Textile Merchants Association (OTIAD), told the India media fibre2fashion that Turkey's textile and garment industry was immediately affected by sanctions against Iran, because Turkey exported a considerable amount of clothing to Iran, and now there is a sudden and unforeseen suspension.
The association represents about 800 Turkey textile and clothing companies.
He proposed a solution to ease the situation. He said: "because of the continuing political tension between Iran and the west, it is impossible to find a lasting solution.
However, Turkey and Iran can find a temporary solution. The two countries can use the goods exchange method. "
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