Export subsidies

25 April 2004

Turkish State Minister, Kursat Tuzmen, who is responsible for economic matters, announced additional support for exporters during 2004. The government has long provided credits to exporters who register with official exporters' unions but the process is long and involved. The new subsidies will go towards supporting research and development, conducting market research and to further education and trade fairs. Firms will be encouraged to create trademarks and brand names. Trade fairs will attract the bulk of the 325 trillion Turkish Lira (US$246 million) support. Tuzmen underlined the role that international fairs play in boosting exports and making buyers more aware of Turkish products. Also stressed was the under-stated role that small and medium-sized businesses play in exports. The goal is to encourage smaller, family-orientated firms to become proficient exporters, a concept that nicely embraces the leather sector.

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