Venezuela made 55 percent of its exports of non-traditional products such as oil and gold to Turkey last year . More than 83 percent of this export, which exceeds 710 million dollars, is scrap. Venezuela’s exports to Turkey, which was only 19.8 million dollars in 2019 , have increased 36 times in the last three years . Turkey, which imported over 713 million dollars from Venezuela last year, is the most important importer of the South American country according to official data.
According to the news of Mustafa Özdemir from VOA, the turning point in Venezuela’s export boom to Turkey was the agreement signed in 2020, which provides tax advantages to thousands of products in mutual trade between the two countries.
In Venezuela, where all items in international trade are not reflected in official reports due to the sanctions imposed on oil and gold trade, 55 percent of the (non-traditional) exports, which was announced as 1,314 billion dollars in total last year, according to official data, were made to Turkey.
At the top of the products in Venezuela’s exports to Turkey last year, scrap under the iron and steel heading comes close to 596 million dollars. Scrap, which is stated to be used to solve the cash shortage after the sanctions were imposed on oil exports, which is the country’s main source of income, is considered a strategic material and its collection, transportation and export are carried out under state control.
According to Transparency International data, the fact that the public is not informed about scrap inventories, active and exporting companies, sales quantities and buyer company information despite the high revenues from the scrap trade leads to corruption allegations in the country that makes more than 90 percent of the scrap trade to Turkey.
Other products that Venezuela exports the most to Turkey are aluminum and aluminum goods, organic chemical products, which are also under state control; mineral fuels, oils and products.
Reaching a total trade volume of 1.1 billion dollars with Turkey last year and having a foreign trade surplus of over 350 million dollars, Venezuela’s efforts to increase bilateral trade with Turkey increasingly continue. (NEWS CENTER)
https://www.gazeteduvar.com.tr/venezuela-en-cok-ihracati-turkiyeye-yapiyor-yuzde-83ten-fazlasi-hurda-haber-1609782
