Textile companies in Turkey move to Egypt to compete

Textile companies in Turkey move to Egypt to compete

Industry feels pressure from abroad More than 65,000 jobs lost Ready-to-wear exports down 7% Producers in Turkey’s once vibrant textiles industry are looking at moving to Egypt and elsewhere to stay afloat in the face of rising costs and fierce international competition. Company closures and job losses mean employment in the textiles sector has dropped below one million for the first time since the height of the Covid pandemic, data issued by th…