Page 38 - TURKRptOct19

Turkey’s export expectation index fell 2.7 points year-on-year to 108.9 points for October-December, from 111.6 points a year ago, the Turkish Trade Ministry’s foreign trade expectation survey showed on October 7.
The import expectation index also dropped. It declined by 3.6 points to 96.5 for the fourth quarter of this year, versus 100.1 points in the same period last year.
Any index figure above the 100-mark points to positive expectations.
Turkey may lose trade with the UK worth up to $3bn if a no-deal Brexit occurred, Turkish Trade Minister Ruhsar Pekcan said on September 4.
“We expect that the most affected sectors will be automotive by a trade loss worth up to $1.2 billion, textile with $1.3 billion and electronic and white goods by $500 million,” Pekcan was quoted as telling a a business forum in Istanbul.
“Unfortunately, even though both the British side and us want to sign a free trade deal, we cannot do so because of our international commitments with the EU,” she added.
Turkey has a customs union with Brussels allowing goods to travel between the country and EU member states without any customs restrictions. However, it does not cover essential economic areas such as agriculture, to which bilateral trade concessions apply, services or public procurement.
The UK wants to protect and raise its trade volume with Turkey post-
38 TURKEY Country Report October 2019 www.intellinews.com