Turkey Exports Slower Amid Middle East Tensions The trouble in Egypt and Syria at the moment is not only affecting those countries but also has spilled over into Turkey, a country that sends 20% of its exports to the Middle East. Turkey’s reliance on the region has grown dramatically; tripling over the past decade but the current conflict in the regions has hampered this growth in exports. Prior to the civil war, trucks from Turkey traveled through Syria to reach the Persian Gulf. Given that this route is now closed, trucks must now be shipped in custom vessels to ports in Egypt, where they can then continue their journey via road.

This route became difficult after Egyptian President Mohamed Mursi was removed from power in early July. The situation has led to a 30% decline in Turkish exports being shipped via Egyptian ports. However, Egyptian government officials say that the problem is due to Turkey not being able to pay the fees for their export trucks along the route.

Related article: http://www.businessweek.com/articles/2013-09-05/egypts-turmoil-batters-turkeys-exports#r=nav-r-story

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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