Textile industry in Turkey faces tough challenge from China and India, as the two giants have the inherent advantage of cheap labour force and energy costs.
Moreover, high value of New Turkish Lira (YTL) has exerted a depressing effect on the local Turkish markets.
This situation forced Sonmez Textile, a firm in Bursa, to withdraw from the sector and another, Akkok Group stopped its manufacturing activities at Yalova Akal Textile, said Halit Narin, Head of the Turkish Textile Industry Employers Syndicate.
Evaluating this situation of textile, Narin said that businessmen pretend to be in business, whereas in reality they are out of trade.
As Turkish export slowed down to six percent down from 34 percent, the situation bothers not only the Turkish textile sector but also the entire Turkish manufacturing sector.
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