Emirates Business reported that construction material exporters from Turkey are optimistic that the GCC market continues to remain robust and absorb the country's excess production capacity. Turkey's building material industry is facing a glut following a decline in exports to traditional markets in Europe and the US.
Mr Vural Cekinmez, chief of section at the Turkish Prime minister office said that the UAE and other GCC countries are a major market for Turkish steel and other construction materials.
He noted that "Many Turkish companies are keen to increase their exports to the GCC because their main export markets in Europe are already facing an economic slowdown and the construction activities in its main export markets, especially Germany, the UK and Spain, have come down substantially."
Turkey, a major exporter of steel, ceramics, sanitary ware, glass and other construction materials to the UAE and other Middle Eastern countries says that the market GCC continues to remain stable. However, some traders fear a considerable decline in demand for Turkish exports in 2009.The United States has also been a major market of Turkish construction materials, especially steel, ceramics and sanitary ware products. Turkey is also a major exporter of plastics, chemicals and metal products used in the construction industry. Turkish exports grew by 25% in 2007 and the growth continued in 2008.
As per the Turkish Foreign Trade figures, Turkish export has been steadily growing over the last 7 years from USD 25 billion in 2000 to USD 107.2 billion in 2007.