During a press conference held by Hikmet Eraslan, CEO of Dosso Dossi Holding to announce the inauguration of the biannual Dosso Dossi Fashion Show in the resort city of Antalya, he said that textile firms from China, India, Italy and others are looking at improving their trade relations with Russia to take advantage of the space vacated by Turkish exporters.
After the jet crisis, wherein Turkey shot down a Russian fighter jet over an airspace violation along its Syrian border on November 24, Moscow initiated several economic sanctions against Turkey in retaliation. On the other hand, the Dosso Dossi fair, manufacturers and thousands of companies from different countries are meeting since it serves as an intermediary platform in supply chains where the products end up in Russia, Belarus, Kazakhstan or elsewhere. The fair is held to support the opening of new markets, domestically and sector heads from abroad , bureaucrats, businessmen, academicians, bringing the industry to create an international platform to shed light on the development, sales and bilateral negotiations for partnership.
At the previous fair [in June] Turkish exhibitors reported $55 million in revenue, however due to the jet crisis, now the target is to reach around $50 million this time as Russian firms attending the fair have dropped from 1,500 to between 1,000 and 1,100. Since Russia still maintains its grip over former soviet countries, embargoes aimed at Turkey are expected to spread to such countries as well. Belarus has already followed suit and banned chartered flights to Turkey, also restricting the access of some Turkish products.
According to official statistics, Turkey's ready-to-wear textile exports declined by 10.3 per cent year on year in the first 11 months of 2015, totaling $15.6 billion. Following the jet crisis, total volume of Turkish exports decreased by 8.6 per cent to $132 billion between January and November, compared to the same period a year ago.
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