Turkish exporters see increase in orders from Europe

ANKARA, Nov. 24 (Xinhua) -- As European importers decided to give up large stocks and order goods in smaller quantities amid the global financial crisis, they are increasingly turning to Turkish exporters, local newspaper Turkish Daily News reported on Monday.

The European importers, which used to order huge quantities of goods from Far Eastern countries before the crisis, has changed this trend, which started to benefit Turkish exporters, said the report, adding that European companies' profits have declined as their expenditures have increased.

Although a decline in auto, iron and steel exports triggered a slowdown in the Turkish economy, the increase in orders by European countries has eased the burden on some Turkish exporters, especially those in the electronics, garment and food sectors, according to the report.

"Orders from Europe started to see an increase in October. The increase in exports is supposed to continue in December and January," the report quoted Aegean Garment Exporters' Union (EHKIB) President Jak Eskinazi as saying.

"To reduce the risk, European customers start to order small amounts of goods that they can put in a store and sell in a short time rather than ordering huge amounts and keeping stocks," he said.

Meanwhile, the report noted that Turkey was meeting Europe's demand in agricultural products more than before, saying that there was a marked increase in Turkey's agriculture exports.

The new orders might not compensate for the losses to a great extent, but it would prevent exports from declining further, said the report, adding that the Turkish government has taken an important step by transferring 1 billion U.S. dollars to Eximbank, a state-controlled bank established to support exports.