Turkey has a population of around 75 million and holds the seventh position in terms of size within the import list in the EU countries and fifth in terms of export. The EU is its top trade partner. The main export partners of Turkey are Iraq, the EU, Russia, the United Arab Emirates, USA, and Iran.

Chart Showing GDP Growth Compared to rest of world

Trade finance is a revolving facility which some banks and specialist lenders offer – it enables firms to purchase stock and can help ease cash flow problems. Generally, an export finance bank will fund most of the cost of the products, including charges (e.g. bank charges). Trade finance offers benefits over more traditional bank funding such as asset finance or business loans. Trade finance provides up front funding without affecting existing relationships with banks.

How does it work?

If you’re an organisation importing or exporting stock supplies internationally, then a trade finance facility would help you to fund this through offering a LC (letter of credit) or some form of cash advance.

I’m looking to export to Turkey, how can Trade Finance Global help, and how does it work?

If you’re looking to export goods to other markets, you may require finance for exporting, which is a commercial agreement between you (the exporter), and the foreign importer. A non-bank lender will advance you the cost of producing the stock that you’re exporting (as a debt instrument), either once you have shipped the goods, or before you have produced them. Once the importer has received the products and pays you for the import, you will repay the advance from the export bank over an agreed period of time.