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21 April 2015

Turkish equipment manufacturers bullish on exports

First publishedINTERMAT
Daily News
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Hidromek Wheel loader
Hidromek is central to Turkey's equipment manufacturing section

INTERMAT is of prime importance to Turkish equipment manufacturers as it provides them with an important route into the European market. Meanwhile Turkey itself is of key importance as a sales territory for local firms, due to the country’s current massive investment in infrastructure. The third Bosporus bridge currently being built will be the widest suspension bridge in the world when complete, while the Istanbul area is also benefiting from two major tunnel projects. In addition, the new airport under construction will become a major hub for the region and also help boost international trade. The steady economic growth and political stability of Turkey have made the country a crucial territory for international firms, helped by its pivotal location situated as a link between the Middle East, Asia and Europe.

Tamer Öztaygar is chairman of the Turkish equipment manufacturer’s association, IMDER. IMDER was founded in 2002 with nine members but now has 56, reflecting the growth in the Turkish equipment manufacturing sector.

Demand for construction machines is strong in Turkey due to the huge investment in infrastructure and Öztaygar said, “Our vision is to be the third biggest construction market in Europe and the eighth largest in the world by 2023.”

The construction equipment segment is key to the country’s future growth plans and he added, “Our aim is to increase manufacturing exports.”

In the last 10 years some 32,000 backhoe loaders have been made in Turkey, while by the end of 2023, IMDER estimates that some 150,000 Turkish construction machines will have been supplied to customers. Hidromek is one of Turkey’s major construction equipment firms, having started in the segment in 1978 making backhoe loader attachments for tractors and now having significantly broadened its range by offering a range of backhoe loaders, excavators, wheeled loaders and graders.

Turkey is currently the world’s 17th largest economy and the sixth biggest in Europe. But by 2023, the 100th anniversary of the foundation of the modern Turkish Republic, the aim is for the country to be Europe’s third largest economy and also with a raised economic profile worldwide.

For 2015 economic activity will likely be reduced during the country’s election period but the economic forecasts for 2016 are strong. Öztaygar said, “We have a long road ahead but we are focussed and organised.”

And he added that by 2023, the country is aiming to balance its trade with imports of $10 billion against exports of $10 billion.

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