Exporters See Growth Potential for Trade with Turkey
Industry insiders believe trade ties between Estonian and Turkey have great potential for growth, with the Estonian Chamber of Commerce planning a business delegation to the country within the next six months.
Turkey is the world's biggest scrap metal importer and Estonia is its sixth biggest supplier, ETV reported.
In previous years, Estonian scrap metal was transited through other EU countries, but this year shipments are being sent directly. Additionally, the company Cronimet Eesti Metall is supplying Turkey with scrap metal from Finland, Sweden and Russia.
"The current market situation has changed. A few years ago we were exporting most of our material to Europe, to Finland, Sweden and Germany, but today Finnish and Swedish metal factory capacities have decreased by nearly half,“ said company spokesman Marko Erlich.
Estonia also exports machines, timber, minerals and computer equipment to Turkey.
Last year, Estonian exports to Turkey reached 160 million euros, but that still accounts for only 1.3 percent of Estonia's total exports and experts say their is great potential to increase that share.