Turkey is a strong country: how the earthquake will affect trade with Uzbekistan

Turkey is a strong country: how the earthquake will affect trade with Uzbekistan

Turkey is a strong country: how the earthquake will affect trade with Uzbekistan

“Turkey is a strong country”: how the earthquake will affect trade with Uzbekistan

How the earthquake in Turkey may affect trade and economic relations with Uzbek enterprises is predicted by experts and representatives of various sectors of the republic.

TASHKENT, February 15 - Sputnik. According to the State Statistics Committee, Turkey is now the fourth biggest foreign trade partner of Uzbekistan. At the end of 2022, the volume of trade between the two countries amounted to $3,224 million.

«Along with Russia and China, Turkey has also become the largest investor in our country - the number of joint ventures with Turkish capital has increased dramatically. In addition, a large number of enterprises with the participation of Uzbek entrepreneurs are opening in Turkey», - noticed emphasizes Bakhtiyor Ergashev, director of the Ma’no Center for Research Initiatives.  

The earthquakes that occurred in Turkey on February 6 will be a serious test for the social sphere and economy of this country, andthat has no affect on its relations with partners, the expert emphasizes.

“It is clear that the tragic events in Turkey hit the foreign trade turnover of the two countries. It was inevitable. There are already many examples of Turkish companies talking about force majeure. Serious restrictions on logistics, as the transport infrastructure was seriously damaged, led to the fact that a certain part of the operations decreased, and this is objective,” Bakhtiyor Ergashev explains.

However, according to the expert, the country's economy will not suffer much, since the earthquake did not affect the main production and administrative centers, so Turkey will be able to recover relatively quickly.

“The Turkish economy and its centers, which are Istanbul, the north and west of the country, the Black Sea coast, were not affected by the earthquake. Therefore, the Uzbek businessmen with whom we spoke hope that all ties will be established and restored within a month - month and a half. Positive dynamics in this matter is expected, ongoing projects and contracts will begin to be implemented in full,” the expert believes.

The same opinion is shared by Uzbek manufacturers. According to the forecast of the founder of the agricultural enterprise AGRO ORGANIC FOOD LLC Alisher Yusupov, it will take about two months to restore the Turkish economy, after which cooperation with other countries will resume.

“Now our partners need to deal with the losses, this may take about two months. I think Turkey is a strong country and I hope that it will recover quickly. As for the export and import of vegetables and fruits, we are ready to continue our cooperation as soon as everything gets better, ”he said in an interview with Sputnik.

Siyavush Rakhimov, the representative of the SISTRONIK SISTEM company, which is engaged in the construction of power lines and the installation of solar panels, also hopes that the tragedy in Turkey will not greatly affect the activities of the enterprise.

“Our founder is a Turk, originally from Kahramanmarash, where the earthquake took place. We are deeply saddened by this horrific tragedy, we help in any way that we can. But we still hope that this will not greatly affect our production and work,” he shared.

Turkey ranks second after Russia in textile imports. Textile producers from Uzbekistan expect a downturn in trade, which, however, will not last long.

“Turkey is one of the largest markets for textile products in Uzbekistan. As a result of recent events, a slight decline in trade is expected. The reason is the break in supply chains, as well as the increase in the time it takes for raw materials and goods to reach their destinations. But we still believe that Turkey is a country with a strong economy. Therefore, according to our forecasts, everything will be restored closer to summer or autumn,” said Umidjon Tuychiev, a representative of the cotton and textile cluster in Samarkand.

We will remind, earthquakes of magnitude 7.7 and 7.6 occurred on February 6 with an interval of 9 hours in the province of Kahramanmaras in southeastern Turkey. The tremors, followed by hundreds of aftershocks, were felt in 10 provinces of the country and neighboring states, of which Syria suffered the most.

Uzbekistan sent about 200 specialists from the Ministry of Emergency Situations, rescue dogs and doctors to the disaster areas. Rescue teams continue their search and rescue efforts.


Source: Sputnik.uz