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Organisers of the 13th annual Istanbul Yarn Fair remain optimistic about the future of Turkey’s yarn segment, despite the country’s recent diplomatic crisis with Russia depressing this year’s turnout.

“Although the recent political issues have affected the number of Russian buyers who come to the fair, the relationship between Turkey and Russia is very strong and [built on a long history],” said Gülbin Bozkurt, project group director of Tüyap Fairs and Exhibitions Organization Inc, which organised the fair.…

If there is one region in the world that could benefit from a rationalisation of corporate governance structure, it is surely Asia, with its shifting sands of complex company ownership structures. Globalisation has only increased the size of subsidiary/parent relationship webs.…

BUREAUCRATIC red tape in Ethiopia has stymied Turkish firms’ once ambitious plans to set up shop in the country’s low costs textiles sector. “When you involve the government, this bureaucracy starts,” warned Kemal Oznoyan, a coordinator with Turkish textiles company Ayka Textile, whose Ethiopian subsidiary Ayka Addis has operated a USD140 million textile factory at Alemgena, west of the capital Addis Ababa, since.…

Following the international agreement limiting its nuclear power ambitions, Iran is essentially open for business. However, certain US sanctions remain in place, adding to Western banks’ caution in dealing with Iran, long a pariah to global investors and bankers. Indeed, the biggest challenge will be reintegrating Iran’s financial institutions back into the international system after their years’ long experience of dealing with, and circumventing, sanctions.…

The ongoing diplomatic row between Turkey and Russia over the Syria civil war continues to take a bite out of Turkish textiles exports, a bilateral trade which had already been declining.

After Turkey downed a Russian jet near its border with Syria in November, Moscow introduced an array of economic sanctions, including tightened custom checks on textile imports.…

Organisers of the 13th annual Istanbul Yarn Fair remain optimistic about the future of Turkey’s yarn segment, despite the country’s recent diplomatic crisis with Russia depressing this year’s turnout.

“Although the recent political issues have affected the number of Russian buyers who come to the fair, the relationship between Turkey and Russia is very strong and [built on a long history],” said Gülbin Bozkurt, project group director of Tüyap Fairs and Exhibitions Organization Inc, which organised the fair.…

FOOD and drink export subsidies are to be scrapped after a World Trade Organisation ministerial meeting in Nairobi, Kenya, agreed to phase out these trade sweeteners. Developed country members have promised to remove export subsidies immediately for basic food products, with a slower phase-out for many processed foods and drinks, pigmeat and dairy products.…

Five years since the start of the Arab uprisings in 2011, instability is still impacting cosmetics sales in the Levant and north Africa. Last year saw a slight improvement on overall sales in 2014, the year the Islamic State spread through northern Iraq and Syria, but figures are down on 2013, and the growth projected in 2010, according to figures from market researcher Euromonitor International and estimates from cosmetics companies.…

It has taken more than half a decade for the cosmetics markets of eastern Europe to finally shrug off a long-running period stagnation that has characterised the regional market. Two underlying features – the financial crisis of 2008 and the completion of multinational takeovers in the noughties that saturated these post-communist markets – lay behind the extended period of slow, low or non-existent growth.…

THE JORDANIAN and Lebanese confectionery markets are both in a state of flux due to the conflict in neighbouring Syria, now into its fifth year. Local production has faced major competition from Syrian entrants fleeing the chaos of their home country, particularly in Jordan; while in Lebanon imports of parallel goods have soared over the past few years.…