Turkish Minister of Trade: We have become the 13th global production base in the automobile industry
Turkish Trade Minister Omar Bolat announced that Türkiye has become the 13th production base in the world and the fifth in Europe in the automobile industry, noting the escalation of trade protectionism globally since the Corona pandemic.
Turkish Trade Minister Omar Bolat said, during the “Export Champions” ceremony held by the Automotive Industry Exporters Union in Uludag at the Turkish Exporters Council Complex: “We have become the 13th production base in the world in the automotive industry sector, and we rank fifth in Europe and 13th globally.”
Bulat pointed out that the global economy has not yet settled on a stable growth path despite the passage of about 6 years since the beginning of the Corona pandemic, explaining that many countries have moved towards policies during this period. A protectionist economy led to the outbreak of trade wars.
The minister added: “There is a Chinese storm blowing over the world. Governments changed and trade wars began. The protectionist winds in the United States particularly affected the European Union as well. Between the decline in market shares in both the European Union and America on the one hand, and the winds that have been blowing from China in the global trade arena since 2022 on the other hand, the global economy is going through a complex phase.”
This story was produced with machine-translation assistance, then went through human editorial review for accuracy and sourcing.
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