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1.5 BILLION DOLLARS FROM AEGEAN EXPORTERS IN SEPTEMBER…

Press release…

1.5 billion dollars of exports from Aegean Exporters’ Associations (EIB) in September…

September exports of the Aegean Exporters’ Associations were recorded as 1 billion 515 million dollars with an increase of 1 percent.

While the members of the Aegean Exporters’ Associations exported 13 billion 688 million dollars in the first 9 months of 2023, they ramped up their exports to 18 billion 297 million dollars with an increase of 1 percent in the last one-year period.

Jak Eskinazi, Coordinator President of the Aegean Exporters’ Associations, said, “The most important issue for our exporters in this period is the lack of investment loans with appropriate amount-maturity-interest. We have an expectation of investment credit source. If we cannot invest, we cannot stay in this race with our competitors.”

The Aegean Region is the export leader in the agrifood industry…

“Our exporters in the dried fruit, olive-olive oil, tobacco, fresh fruit and vegetable, fruit and vegetable products sectors are going through a period of time when they buy the raw materials of the products they will process and export for a year in this period,” noted Eskinazi, “In this process, we want an appropriate term loan programme special for our agricultural exporters to be implemented. In this process, where business is stagnant and capacities are weak in many sectors and have fallen to 30 per cent, the hikes in electricity and natural gas are to the extent that will disrupt the cost calculations of our exporters.”

“These hikes are sure to expand losses in exports. As exporters, it is not possible to reflect the increase in energy prices to our export prices. Cost increases, decrease in purchasing power, decrease in demand and high inflation have brought us to this point. Interest rates have risen to 50 per cent in our financing costs. Our businesses are struggling hard to stay afloat. We expect urgent support from our government on appropriate term financing, labour, energy and raw material prices,” Eskinazi added…

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