China has always been hugely important for global trade due to its low cost production, however, as major European companies start looking for alternatives that are closer to home, Turkey is in the race to start a new age in Global Supply Chain dominance.
For foreign buyers, who want faster delivery and higher quality, but still with an affordable pricing structure in place, Turkey has already proven that it can meet the demand and stringent terms, plus given it’s unique position serving as a bridge between Asia and Europe, it could be the key to address supply chain issues of the present, and be the best alternative in the Future.
Investment from foreign companies is increasing all the time throughout Turkey and at the recent International Brand and Manufacturer Meeting in Antalya last week, agreements of over $150m were finalised which could, once settled end up generating a total of $1bn of volume in 2022.
One of the reasons for looking at alternative suppliers, especially for Kheita Drapers Group who are a major supplier to the African Market is that Turkey can provide a much better quality, and whilst the prices maybe cheap in China, it does mean that unfortunately, you end up getting a cheap product with less reliability. The only potential downside to increasing supply chains with Turkey is the language barrier, however, that is slowly changing and will continue to improve.
Aibek Adambekov of Kazakhstan’s Cash & Carry Magnum, also commented that even if Turkey do demand higher costs, it’s justifiable by the quality of the product. He went on to add that he hopes Turkey will become the main supplier in Kazakhstan and Uzbekistan.
There were plenty of delegations, individuals and investors from other countries at the event too, including Azerbaijan, Ecuador, Argentina, The USA and Europe.
The interest in Turkey has increased considerably over the last few months, mainly due to their supply chain performance during the pandemic, proving a strong infrastructure, a dedicated local workforce and a determined attitude to push forward despite the difficult days & months.
