Government allocates funds to help companies boost exports

ISTANBUL

The Turkish government has allocated funds to the tune of 43 billion Turkish Liras ($1.3 billion) in its draft 2025 budget aimed at helping companies diversify their markets abroad and boost exports.

One of the goals of the government-sponsored Trade Regulation, Development and Facilitation Program is to increase the share of medium and high technology product exports in the manufacturing industry exports.

Accordingly, the program aims to boost the share of these products in total exports to 40.5 percent by the end of the year and to 42 percent next year.

Under the program, the number of service exporting companies that receive government assistance is expected to reach 25,000 by the end of the year and 28,000 in 2025.

The government will also help firms, especially small- and medium-sized companies, enhance their capacity to comply with the green deal regulations.

The number of firms that will be entitled to financial support under the “Green Deal Compliance Project” will rise from 50 to 250 at the end of 2025, according to the government’s draft budget.

Another objective of the government is to increase the share of the contracting and technical consultancy services sector in the world market to 4.5 percent next year.

The business volume the contracting services sector generates abroad, which is expected to be $26 billion at the end of the year, is foreseen at $30 billion next year.

The government also aims to increase the share of e-exports in the country’s total exports from 3.5 percent at the end of 2024 to 5 percent in 2025.

The draft budget will be forwarded to the general assembly for lawmakers to vote after discussions at parliament’s planning and budget commission, which are expected to conclude by the end of November.