The risk of competition between China and India has recently come to the fore as one of the most valuable topics in Turkey’s exports.
Speaking to Bloomberg HT, Uğur Dalbeler, Deputy Leader of the Steel Exporters’ Association, and Başaran Bayrak, the Assembly Leader of the IMEAK Chamber of Shipping, drew attention to the problem of China and India in exports.
Bayrak said that 40-size containers dropped from $14,000 in the middle of China-Turkey to $2,700 in the middle of the US-China, and around $1,500 in the middle.
Bayrak said, “Currently, there is a very rapid export from China to America. Now, Turkey has lost its competitiveness due to the gap. In the past years, the shipping prices, which were very high during the pandemic and affected the sales prices, are no more. “This causes the company to grow aggressively and seize the markets here. Therefore, our exports are decreasing.”
Uğur Dalbeler, Deputy Leader of the Steel Exporters’ Association, made a statement regarding the issue: “Our labor costs continue to increase. However, the increase in our power costs in the last 6 months means that our production costs have increased significantly. India is a very big country. Compared to the development in China, India is actually far behind. On the other hand, they have been attacking for the last 3-4 years. India is a big competitor for us. They are richer in raw materials. Since the investment environment is more suitable than ours, they have exceeded 100 million tons. Their aim is to reach 300 million tons by 2023. In such an environment, of course, India will be a very important competitor,” he said.