$ 1 billion business volume target in the furniture exhibition
The furniture industry, one of the locomotive sectors for exports in Turkey, met in Istanbul. The Furniture Istanbul exhibition, which hosts nearly 90 thousand professional buyers from 85 countries, is targeting a US$ 1 billion business volume. The year-end export target of the sector is projected to be UD$ 3 billion with the impact of the exhibition.
Organized by CNR Holding company Pozitif Fairs in collaboration with the Turkish Furniture Manufacturers Association (MOSDER), the exhibition will continue until November 11.
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”WE SHOULD EXPORT TO NEW MARKETS“
Speaking at the opening of the fair, Deputy Minister of Trade Fatih Metin stated that the furniture sector had a potential of US$10 billion, but exports accounted for only 30% of it. Metin, who pointed out the US$ 200 billion potential in the world market added that it was an immense indication for new opportunities. He continued his words:
"R&D, innovation, design, and branding are required to increase our share in the world trade. As the Ministry of Commerce, we stand by our industrialist. Our furniture exports are currently limited to Europe, the Middle East, and Central Asia. We need to take our place in the market where the US imports USD$ 45 billion; we must enter into new markets."
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Speaking at the opening of the exhibition, CNR Holding CEO Ali Bulut said, "As a result of the publicity activities we have conducted all over the world, we aim to bring nearly 90 thousand buyers from 85 countries together with our exhibitors. The fact that more than 15 % of buyers will come from abroad is an indication of our exhibition's contribution to exports."
US$ 1 BILLION TRADE VOLUME TARGETTED IN 6 DAYS
Pointing out that Furniture Istanbul was the most well-established trade fair of the industry, Turkish Furniture Manufacturers Association (MOSDER) President Nuri Öztaşkın said, "With the VAT reductions during the exhibition that will last for six days, we foresee the business volume to reach to US$ 1 billion. The furniture sector performing with no current account deficit for years is expected to create US$ 3 billion by the end of 2018 thanks to the impact of Furniture Istanbul."
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Istanbul Furniture, Paper and Forest Products Exporters Association President Ahmet Güleç indicated that the furniture sector exports had expanded in the last 16 years and that the production quality and design had made a mark on this growth. He also noted that the industry had a foreign trade surplus of US$ 2 billion.
