Türkiye launches new strategy to expand exports by 30% to Islamic nations
Leaders and representatives of the Organization of Islamic Cooperation (OIC) member states pose for a group photo during an extraordinary meeting in Istanbul, Türkiye, on December 13, 2017. (Reuters Photo)
Türkiye has implemented a comprehensive strategy to increase its exports with other Islamic countries, especially Gulf countries, with which it has strengthened its trade and cultural relations.
Within the ‘Export Development Strategy with Islamic Countries’ framework announced by the Ministry of Trade, Türkiye aims to increase the share of exports to Islamic countries from the current 26% to 30%.
Focus countries and sectors identified for increasing exports
The Ministry of Trade thoroughly analyzed the economic and trade data of 55 member countries of the Organization of Islamic Cooperation (OIC) in its Corporate Financial Situation and Prospects Report for 2024.
Ministry of Trade identified Azerbaijan, Bangladesh, Bahrain, the United Arab Emirates, Algeria, Indonesia, Morocco, Côte d’Ivoire, Qatar, Kuwait, Malaysia, Libya, Egypt, Nigeria, Uzbekistan, Pakistan, Senegal, Saudi Arabia, Tunisia, Oman, and Jordan as ‘Phase 1 Focus Countries.’ Studies will be conducted with these countries on potential products in agricultural and industrial sectors.
Targets and strategic plans
The new strategy aims to help Türkiye gain a stronger position in global value chains and achieve high export growth. To this end, intensive promotion and marketing activities will be carried out for the products and sectors identified. The goal is to significantly increase Türkiye’s foreign trade and play a more effective role in the international market.
These steps are considered an important milestone in Türkiye’s foreign trade and will play a critical role in achieving the country’s economic growth targets.
