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Turkish trade still a delight for Davies Turner

[ August 28, 2018   //   ]

Freight forwarder Davies Turner remains positive about the trading outlook for Turkey despite the country’s ongoing economic crisis and depreciating currency, according to chairman, Philip Stephenson

He says that while the weakened Turkish lira and escalating tariff war between the US and Turkey might make life harder for British exporters it could be easier for UK importers.
A so called trade war broke out in mid-August after President Donald Trump doubled US tariffs on imports of Turkish steel and aluminium, in turn precipitating a sharp fall in the value of the lira. If sustained, this would have the effect of making imported goods more expensive for Turkish consumers, but could make the country’s exports to the UK and the rest of the world more competitive.
“If it becomes more difficult for not only UK, but European exporters to sell to Turkey, it could put a strain on the rotation of trailers between Turkey and the UK,” added Stephenson. “Ideally for Davies Turner, balanced traffic flows in both directions are best, supplemented by collecting extra southbound freight from our partners in countries in the near-continent.”

Davies Turner operates daily two-way overland and multimodal trailer services between the UK and Turkey with Turkish partner EKOL. Stephenson said so far this year it had been “business as usual and the company was sheltered from fluctuations of the Turkish lira because most of its large international Turkish-related freight and logistics contracts were in Euros or Sterling.
“We have some longer term concerns if the ongoing financial situation has a significant impact on future foreign investment within Turkey, but we still believe the country’s strong export growth will continue despite the country’s current economic difficulties.”
Davies Turner’s Turkish partner, EKOL, one of the country’s largest freight and warehousing operators, recently became one of the few operators authorised to carry out export customs clearance at its own terminal, thanks also to its Authorised Economic Operator status.

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