Ministry allots $270 million to 103 brands

Sadi Özdemir ISTANBUL - Hürriyet

Turkish Economy Ministry have allocated 540 million Turkish Liras of funds to 103 brands since 2006, says minister Zafer Çağlayan. DHA photo

The Economy Ministry’s Turquality program, which offers Turkish brands both monetary and advertising assistance, have allocated 540 million Turkish Liras ($270 million) of funds to 103 brands since 2006, Economy Minister Zafer Çağlayan has said. 

Meanwhile, the government aims to ensure that at least 10 Turkish brands become global brands by 2023, hence the Turquality program, currently supporting 103 brands across 91 companies. 

The Economy Minister said the program also raised Turkey’s export value per kilogram. “Turkey’s average export unit price per kg was 

$1.58 in 2012. However, the companies within the scope of the Turquality program have an export unit price per kg at $2.34,” he said.

Çağlayan stated that this program didn’t aim only to increase company exports but also to support their branding targets. The firms in the program currently export to 198 countries, he said, adding that the United Kingdom, Germany and France were the top three countries, to which the companies mainly export. 

Meanwhile, Çağlayan departed yesterday for the United States on an official visit to devise ways to increase commercial relations between the two countries. The minister’s talks will also cover Free Trade Agreement talks between the U.S. and the European Union.