“Speaking in Ankara on Wednesday, the TEKSİF head said the Turkish textile sector was battered by the crisis under the strain of a financial bottleneck. “The damage has almost exceeded 2001 figures,” he emphasized. Noting that the sector exports some 70 percent of production, Irgat said a steep contraction in foreign demand dealt a blow to the sector. The TEKSİF chairman, however, went on to say that the sector has started to see but a slight recovery within the past few weeks, an encouraging fact that could stimulate new investment. ..“Entrepreneurs are motivated by positive developments in the sector,” he added. Irgat said they were facing one of the most severe crises ever in the textile sector and that many firms had no option but to shut their doors. Underlining that more than a few producers had to slash employee numbers in half, he said the textile sector contributes prominently to employment…“The producers have little to do from now on; the crisis has taken its toll. The government should take initiatives and introduce new incentives to help the textile sector stay afloat.”.


Source:Today’s Zaman