Minister Çağlayan stated that increasing the domestic production rate is necessary to enhance the competitiveness of the automotive sector, which is the driving force of exports. He also noted that companies producing engines and drivetrain components will be incentivized.
The government, preparing to implement an export-oriented production strategy, will first apply this strategy to the automotive sector, the locomotive of the economy. Minister of State for Foreign Trade Zafer Çağlayan stated, “We will introduce a new incentive system and support those who increase the domestic content ratio. With this incentive, we aim to increase the domestic content ratio in vehicles produced in Türkiye to at least 90 percent.’ Underlining that the Turkish automotive industry has proven itself, but that it needs to increase its competitiveness to boost exports and enter new markets, Çağlayan said that the way to do this is by increasing the domestic content ratio. Çağlayan continued: ”We will support and encourage the production of engines and other running gear, which are significant import items in the automotive sector. In recent years, the automotive sector has been one of the leading sectors where we have a foreign trade surplus, exporting more than we import. If we increase the domestic content ratio in vehicles exported from Türkiye to high levels, this will be a great strength for closing Türkiye's current account deficit and improving the balance of payments.“
Source: sabah.com.tr
