Turkish textile manufacturers are showcasing their products at the second ongoing exhibition ‘i of the World’ in New York City.
The exhibition organized by the Istanbul Textiles and Raw Materials Exporters Association (ITHIB).
The two-day event which will be concluding on 29 September, is expected to draw a number of leading US apparel producers, designers and distributors.
Ahmet Oksuz, ITHIB president said, “Every year, the US imports $43 billion worth of textiles, making it the world’s largest textiles market.”
Meanwhile Turkey represents the world’s fifth largest exporter of textiles, and the second largest exporter to the EU.
According to the organizers, “In hopes of raising their share of the US textiles market, the representatives of 28 Turkish textiles firms are said to attending the event. We will diversify the ‘i of the World’ to strengthen our cooperation with the US.”
According to Oksuz, Last year Turkey’s share of the global textiles market stood at 3 per cent, but accounted for only 1.6 per cent of the total US market.
“Turkey’s formidable production capacity has the potential to realise a much larger share of textile imports to the US, also textiles represent the main component of the $100-billion trade target between the two countries,” Oksuz added.
Besides that, the Turkish and US economies don’t compete with each other, rather they complement one another, providing an excellent example of a win-win model.
Last year, ITHIB organized the first ‘i of the World’ exhibition in New York, in cooperation with the Turkish Trade Ministry and the Turkish Exporters Assembly.
“This exhibition is helping us to sustain these notable increases and achieve our ambitious bilateral trade targets,” Oksuz said.
Also, they are planning to carry out several more promotional activities and B2B projects in the US.
Their hope is to eventually hold the exhibition in other parts of the US as well, with the aim of achieving $1 billion in exports by the end of this year.
And their textiles industry is a global leader in terms of integrated production capacity, qualified human resources, logistics, R&D investment and sustainability.
“It has remained a safe harbour despite the pandemic for the supply chains of several internationally-recognized garment brands,” Oksuz stated.