Nine reasons for China's fastener industry to invest in Turkey market
Mar 15 , 2024

       In recent years, with the increasing demand of automobile, motorcycle parts and construction industries in Turkey, the local fastener industry in Turkey has been developing vigorously, with more than 70 large and medium-sized fastener manufacturers in China.

Reasons for choosing to invest in Turkish fastener market;

1) The fastener industry in Turkey is still relatively narrow so far, which urgently needs further improvement.

2) There are dozens of cold and hot forged fastener manufacturers in Turkey, and only a few of them can supply the quality and production capacity to Europe. Therefore, Turkish fastener manufacturers still have great room for development.

3) The fastener market in Turkey and Europe is growing continuously.

4) It is mainly some European countries that turn the world fastener industry around, and Turkey's infrastructure and technical ability can best meet the European quality standards. The second largest fastener importing country in the world, with an average annual fastener import level of more than $3 billion, takes only one day by land between Germany and Turkey, and only three days with the farthest European country in Turkey.

5) At the beginning of 2009, EU member states began to impose anti-dumping duties of up to 87% on fasteners imported from China. Therefore, many China manufacturers have invested in Thailand, Viet Nam and other countries, and started to produce fasteners for export to Europe. However, in 2010, all EU countries increased the number of countries to which anti-dumping duties were applied in order to prevent the import of fasteners from Far East countries. In this case, Turkey is in a key position. Because there is a customs union agreement between Turkey and the European Union, the fasteners made in Turkey can be exported to European countries without any problems.

6) Labor cost is an important component in fastener industry, and the level of labor cost in Turkey is almost half of that in Europe.

7) In 2008, the export value of Turkish fasteners was 201 million US dollars. At present, Turkey's fastener exports are still rising, and the amount exported to European countries accounts for the vast majority. Within three years, a manufacturer exporting 20% fasteners to Turkey will have an annual turnover of at least USD 40 million.

8) Because of environmental protection, it is not allowed to produce hot-dip galvanized fasteners in Europe. However, the European steel structure construction industry uses hot-dip galvanized fasteners, and there is no environmental and legal constraint to produce hot-dip galvanized fasteners in Turkey. Therefore, the fastener hot-dip galvanizing plant established in Turkey can export its products to Europe.

9) Europe is fully investing in developing the energy field of wind power generation. And will continue to invest in wind energy in the near future. In wind power generation, high-strength fasteners are used for wind wheel brackets and turbines. European wind energy manufacturers are reluctant to use high-strength fasteners imported from Far East countries. On the contrary, the high-strength fasteners produced by Turkey are accepted by European countries. The price and profit (profit ratio) of high-strength fasteners are very high.       According to the information of Turkish importers, the Turkish government has issued a new customs valuation regulation on March 25th, valuing fastener products from the global market at $3,500 per ton. No matter how much the import invoice is, the fastener products imported for customs declaration must pay customs duties and value-added tax on the basis of valuation.

      According to customs statistics, in 2008, China exported about 48 million kilograms of fastener products to Turkey, and the value of our export declaration was about 70 million US dollars, with an average price of about 1,500 US dollars per ton. According to Turkish statistics, the total value of customs declaration of imports from China is about US$ 120 million (possibly CIF price), and the average price per ton is about US$ 2,500. The number of fasteners imported from China accounts for about 50% of all Turkish imports. According to the preliminary calculation, if the tax is levied according to the new customs valuation, the fastener products imported from China are equivalent to a tax of no more than 20%.

Tinggalkan pesan
Tinggalkan pesan
Jika Anda tertarik dengan produk kami dan ingin mengetahui lebih detail, silakan tinggalkan pesan di sini, kami akan membalas Anda sesegera mungkin.