As China has eased the coronavirus lockdown, Turkish exports of industrial commodities to the country has started to show recovery. Chinese factories have continued production and reopen businesses.
According to Murat Kolbaşı, the chairman of the Asia-Pacific Business Council of Turkey's Foreign Economic Relations Board (DEİK), around 75% of factories operating in China have restarted after the large-scale lockdown to restrict the spread of the coronavirus. Demand is now around 60-80% of the levels.
Therefore, Turkey’s exporters of manufacturing commodities posted increases in export orders from China. The demands are the highest for electrical electronic industry and producing intermediate commodities.
He added that exports to the Asia Pacific region have also rebounded.
However, Ersin Şahin, general manager of a Turkish diesel engine manufacturing firm Erin Motor said that the trade with China is still below the pre-pandemic levels. He expected China to get on stronger feet in May.
For Turkey, exports to China is one way to cope with the market loss in Europe right now, as Europe is being severely hit by the virus. Likewise, the US has also shown no hitch in figures.
Şahin said that his company had started to ship exporting products to China early this month.
Tags: AlwaysFree,Asia Pacific,Central and East Europe,China,English,Europe,NEA,Turkey
Published on April 27, 2020 5:41 PM (GMT+8)Last Updated on April 27, 2020 5:41 PM (GMT+8)
