"Turkey : Turkish textile faces bleak situation
January 20, 2006
Textile industry in Turkey faces tough challenge from China and India, as the two giants have the inherent advantage of cheap labour force and energy costs.
Moreover, high value of New Turkish Lira (YTL) has exerted a depressing effect on the local Turkish markets.
This situation forced Sonmez Textile, a firm in Bursa, to withdraw from the sector and another, Akkok Group stopped its manufacturing activities at Yalova Akal Textile, said Halit Narin, Head of the Turkish Textile Industry Employers Syndicate."
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