Former Chairman of Turkish Pump and Valve Manufacturers Association Kutlu Karavelioglu said that the biggest contribution to the machinery export target of Turkey as $100 bln will be most probably by the Turkish pump and valve industry, and announced the industry’s export target as $6 bln.
The market value of the world pump and valve industry is about $60 bln. Annual growth rate of the market is about 2 percent. This means the market volume will reach $76 bln by 2023. If Turkish pump and valve industry achieves a 7 percent share in the market, then the exports will easily reach $6 bln”, he added.
Karavelioglu stated that Turkey increased its exports by 30% from $340 mln in 2006 to $600 mln in 2010 despite the global financial crisis. He said this trend will continue by selecting right markets and right export industries.
This text is translated from Turkish to English from the June 2011 edition of Moment magazine issued by Central Anatolian Exporters’ Association.