Today.Az » World news » Turkish shipbuilders seek barter trade system for speedy growth
10 May 2011 [13:07] - Today.Az

The Turkish shipbuilding industry, which showed a big rise in exports during the first four months of the year compared to same period last year, aims to adopt the barter trade system to achieve their 2023 target of $10 billion exports, according to a sector leader.

To launch barter trade in Turkey, either the government should mediate or some independent barter companies should be established, said Başaran Bayrak, chairman of the Istanbul Ship and Yacht Exporters’ Association, in a written statement.  

The Turkish ship and yacht industry targets to reach $10 billion in exports by 2023, Bayrak said. "To this end, we should achieve a nearly 20 percent increase each year."

"However, as it is hard to achieve this goal by ourselves, we expect support from the government," Bayrak said. "We are not alone in this sector. Companies in our competitor countries have advantages. We hope our government will take an active role in developing the shipbuilding sector."

Thanks to barter trade, Korea and China have risen to important positions in world shipping, Bayrak said. "The barter trade is a model especially implemented in some countries that are limited in money and rich in underground sources, such as Iran, Iraq, Azerbaijan, Kazakhstan, Turkmenistan and some African countries."

"These countries sell ships in exchange for oil, natural gas or other goods and their governments mediate the trade. We may also implement this model in Turkey. The Turkish government may mediate or establish barter companies."


Commenting on the sector’s exports figures, Bayrak said the industry is not in a better position in 2011 compared to a year earlier.

Turkey’s shipbuilding industry is operating at 15 percent capacity, Bayrak said, adding that many of the shipyards have recently begun to receive orders. "The Turkish ship industry totaled $533 million in exports during the first four months of the year. We predict this figure to reach $1.2 billion by the end of the year."

Compared with same period last year, the industry registered a 78 percent increase in exports, Bayrak said, adding that this is an irregular increase. "In shipping terminology, we call this a ‘coincidence.’ Four or five ship sales may occur in the same month. Ship or yacht exports are low in number but valuable in price. We should look at the 12-month period."

While Turkey’s shipbuilding industry was exporting boats worth $1.57 billion between 2009 and 2010, the figure dropped to $1.35 billion between 2010 and 2011, he said.

During the first four months, the industry exported ships to Malta, France, Panama, Kazakhstan, the United Arab Emirates, Indonesia, Malaysia, Italy and Marshall Islands, Bayrak said. "Ship exports constituted 70 percent of Turkey’s April naval exports, while 30 percent were yacht exports. In the upcoming period, we expect yacht exports to reach 40 percent."

/Hurriyet Daily News/

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