Search Results for: Turkey

The Turkish textile and garment manufacturer Ayka Tekstil has told WTiN.com that construction of its new textile and garment industrial zone in Ethiopia, which it is developing in partnership with the Ethiopian government, is likely to begin within the next two or three months.…

The Russian government is planning to nationalise the textile sector of Crimea, the former Ukraine region it annexed in March, helping spark a series of sanctions against Moscow by the European Union (EU), the USA and others. These restrictions include a ban on western companies trading with the Crimea, intensifying economic problems that have worsened since the Russian takeover.…

THE EUROPEAN Commission has announced a further four European Union (EU)-funded marketing programmes promoting sales of EU-produced meat, within member states and abroad. These are in addition to the Euro EUR7.7 million programme promoting lamb sales run by British beef and lamb levy body Eblex, Ireland’s Bord Bía, France’s Interbev, announced earlier this week.…

Multilateral talks over Iran’s nuclear power programme have partly and temporarily eased certain sanctions against the country. Yet while businesses worldwide are keen to get into the lucrative Iranian market to offer all kinds of good and services, the overarching sanctions regime put in place by the United States, the European Union  (EU) and the United Nations still remains, as do the risks of doing business with Iran, considered one of the world’s riskiest jurisdictions.…

THE FINANCIAL Action Task Force (FATF) has warned Iran it faces tighter international scrutiny of its financial services and dealings, should it fail to criminalise terrorist financing and boost its suspicious transaction reporting (STR) requirements.

In its latest assessment of jurisdictions failing to comply with FATF anti-money laundering and combating the financing of terrorism (AML/CFT) recommendations, the global AML body singled out the Islamic republic, giving Tehran until February (2015) to make reforms, or face the consequences.…

The co-author of a new report highlighting major concerns about low wages in Turkey’s textile and garment industry has called for global brands sourcing from the country to act more responsibly.

‘Stitched Up: Poverty Wages for Garment Workers in Eastern Europe and Turkey,’ was published earlier this year by The Clean Clothes Campaign (CCC), an alliance of organisations including trade unions and non-governmental organisations in 16 European countries.…

A leading carpet producer in Gaziantep Province, which lies in Turkey’s Southeastern Anatolia Region, and a major carpet production hub, has told WTiN.com that the industry is facing a number of challenges as the Turkish sector becomes increasingly competitive.

According to data from the Southeastern Anatolia Exporters’ Union (GAİB), Gaziantep’s annual exports of carpets are currently worth around USD1.5 bilion, with 227 carpet companies in Gaziantep that are members of export unions.…

THE TOBACCO sector and trade in the countries neighbouring Syria have been impacted by the flight of more than 3 million (some reports say 5 million) from its civil war. Due to the Syrian conflict, smuggling has increased to supply the Syrian market (still at least 17 million people), while the lack of governmental controls has promoted illicit sales in Turkey, Jordan, Iraq and Lebanon, while the influx of refugees has led to growth in lower priced legitimate cigarettes.…

THE AVERAGE tax burden in the developed countries of the Organisation for Economic Cooperation & Development (OECD) have continued to rise, up 0.4% in 2013, to 34.1% of GDP, compared with 33.7% in 2012 and 33.3% in 2011. A new OECD report said the largest 2013 increases were in Portugal, Turkey, Slovakia, Finland, and Denmark, which has the highest tax-to-GDP ratio among OECD countries – 48.6%, followed by France, 45%, and Belgium, 44.6%.…

Ayka Addis Textile – the Ethiopian subsidiary of the Turkish textile and garment manufacturer Ayka Tekstil – has told just-style that it is anticipating strong growth in its sales over the coming years due to a growing number of European retailers looking to source from Ethiopia.…