Türkiye seeking to increase share in global exports: Minister

Türkiye is seeking to increase its exports to the world's largest economies with a specially tailored "distant countries strategy," Trade Minister Mehmet Muş has said.

Those targeted 18 countries in different continents, including the U.S, Canada, Mexico, Brazil, China, Japan, India, South Africa and Australia, account for more than half of the global economy, Muş said at a ceremony held in Istanbul marking the launch of the trading strategy.

"We initially aim to increase Türkiye's share in those countries' imports above 1 percent. That means boosting exports to those economies from $20 billion on average between 2018 and 2020 to more than $80 billion," the minister added.

Muş noted that two-thirds of Türkiye's exports have been destined to the neighboring nations and countries within relatively closer proximity over the past 20 years, which necessitates a special foreign trade strategy to reach out to distant countries.

The share of those 18 countries accounts for 64 percent of the global economy and their share in global imports is 47 percent, according to the minister. "Those nations offer an important opportunity to increase bilateral trade on a win-win basis."

As part of the distant countries strategy, guides will be prepared to inform local businesses on how to enter the markets, investment opportunities and regulations, and working groups will be set up on the integration of small and medium-sized companies into the supply chains in those 18 countries, according to the minister.

Online stores will be launched to boost trade with China, Muş also said, adding that details of a package designed to support e-exports will be unveiled soon.

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