Turk Eximbank to raise export support to over $48B

By Musab Turan

ISTANBUL (AA) - Turk Eximbank targets for raising export financing support will grow 10 percent to $48.4 billion in 2019, compared to the end of 2018, CEO Adnan Yildirim said on Thursday.

The bank's 2018 financing support target for exporters was $44 billion, he noted at a panel in Istanbul.

To reach this target, the bank started new programs for exporters, service companies, and contractors active abroad, he stressed.

He also said: "We got important resources from foreign countries through roadshows we held in 2017 and 2018."

Kerem Alkin, general secretary of the Turkish Exporters Assembly, told the panel that service exports can bring rich income to Turkey.

Service exports have more added value than goods exports, Alkin asserted.

On the U.S. decision to withdraw its forces from Syria, he underlined that this will benefit Turkey's exports, especially in the construction sector.

"After a permanent cease-fire and a constitutional referendum and a general election, Syria's rebuilding will start," he added.

Ferdi Erdogan, chair of the Association of Turkish Construction Material Producers, said the construction materials sector made $17.3 billion in exports last year.

"In the first 10 months of 2018, our exports reached $17 billion, up 21 percent compared to the same period last year, and we'll close out 2018 with over $20 billion in exports," he noted.

He also said the sector's 2019 target is $22 billion in exports.