Turkish Textile Sector Is Important for Switzerland
Swiss machinery players have considerable markets shares in Turkey including for yarn, weaving, knitting and technical textiles. They are holding outstanding studies in global market via their roof organization Swissmem. Switzerland is in the first place in machine preferences for Turkish textile manufacturers. However, Turkey is among the important markets for Switzerland.
Swiss Textile Exports Increase by 15.3% in 2017
When compared with the year 2016, exports of the Swiss textile machinery industry totalled 792.9 million Euros in the whole of 2017. Export to China, the largest market, increased by 19% to 113.1 million Euros. Export to Turkey was 96.1 million Euros with a 15.3% increase. Turkey became the 2nd largest market by importing machinery worth 96.1 million Euros from by Swiss textile machinery manufacturers. Exports to India, another important market, declined by 29.6% to 72.9 million Euros. Exports to Germany increased by 7.8%, while exports to the US increased by 6%.
Foreign trade brings a big profit to the country
Today, Switzerland is the financial heart of Europe’s banking sector. The economy of the country is based on market relations and turnover in foreign capital. Switzerland creates ideal conditions for both small and large entrepreneurs. The state does not interfere in any way the activities of the enterprises. Production fully meets all requests for an average buyer.
Switzerland’s largest industry, besides the banks; watch companies, pharmaceutical industry, agriculture and tourism. It is also a world-famous country in the Swiss watch industry. All production assets are concentrated in Geneva, Tun, Bern and La Chaux-de-Fonds. Approximately 95 percent of the hours produced are exported. Largest businesses; Richemont, Swatch Group, Rolex and Patek Philippe.
Foreign trade brings a huge profit to the country. The largest percentage of exports is produced goods, medicines and food. The country’s main trading partners are the US, Europe, China and Japan. Switzerland is the seventh country in the world in terms of per capita income.
How to Export to Switzerland?
Due to the fact that there is a Free Trade Agreement (STA) between Switzerland and our country, the businessmen who will export from our country must fill the EUR-1 Certificate, which they will obtain from the Trade and Industry Chambers, as well as the Customs Declaration. With this document, textile and industrial products from our country can enter the Swiss market without customs duty and only 8% VAT is charged.
