Turkish steel industry to receive incentives
Business |
Turkey's steel industry representatives are pleased to hear Economy Minister's statement on incentives for steel and iron production.
As the Economy Minister of Turkey announces the decision to implement maximum level of incentives for the iron and steel production, sector representatives expressed their appreciation.
"This is a revolutionary step," said Veysel Yayan, general secretary of Turkish steel producers association.
Yayan explained that Turkey's free trade agreement in 1996 with the European Iron and Steel Community blocked state incentives on the steel industry.
"Because of the terms of the agreement, the Turkish steel industry had difficulties in entering the European market. The current situation prevents the value added production," Yayan added.
He stated that incentives like land allocation and tax exemption would be very important supports for the industry.
Insisting that items which are not produced in Turkey should also get incentives, Yayan said, "The incentives on construction iron would not be very important, but to support products which are not produced in Turkey such as the ones used in the automotive industry, would be very advantageous."
Turkish Steel Exporters' Association President Namik Ekinci said the ministry's decision is very pleasing for the industry.
Ekinci pointed out that despite the growth in global steel production, there is not such an increase in demand, adding that the steel sector has difficulties in exports for several reasons.
Apart from the difficulties in exports, the industry only uses 70 percent of its capacity, he said.
"It is a must for the Turkish steel industry to have research and development and technology investments. The industry needs a structural change. The statement of the minister is very important for the steel sector to eliminate the barriers which prevents the development of new production methods of the industry," Ekinci said.
"We are excitedly waiting for the developments," he added.
Speaking at Anadolu Agency's Finance Desk, Turkey's Economy Minister Nihat Zeybekci said early Friday that the ministry plans to implement maximum level of incentives for iron and steel production in Turkey.
Anadolu Agency
"This is a revolutionary step," said Veysel Yayan, general secretary of Turkish steel producers association.
Yayan explained that Turkey's free trade agreement in 1996 with the European Iron and Steel Community blocked state incentives on the steel industry.
"Because of the terms of the agreement, the Turkish steel industry had difficulties in entering the European market. The current situation prevents the value added production," Yayan added.
He stated that incentives like land allocation and tax exemption would be very important supports for the industry.
Insisting that items which are not produced in Turkey should also get incentives, Yayan said, "The incentives on construction iron would not be very important, but to support products which are not produced in Turkey such as the ones used in the automotive industry, would be very advantageous."
Turkish Steel Exporters' Association President Namik Ekinci said the ministry's decision is very pleasing for the industry.
Ekinci pointed out that despite the growth in global steel production, there is not such an increase in demand, adding that the steel sector has difficulties in exports for several reasons.
Apart from the difficulties in exports, the industry only uses 70 percent of its capacity, he said.
"It is a must for the Turkish steel industry to have research and development and technology investments. The industry needs a structural change. The statement of the minister is very important for the steel sector to eliminate the barriers which prevents the development of new production methods of the industry," Ekinci said.
"We are excitedly waiting for the developments," he added.
Speaking at Anadolu Agency's Finance Desk, Turkey's Economy Minister Nihat Zeybekci said early Friday that the ministry plans to implement maximum level of incentives for iron and steel production in Turkey.
Anadolu Agency
