Turkish furniture makers are importing more than half of their own products to the country, an expansion that’s boosting the economy and helping the country emerge from a deep recession.
In a bid to diversify away from dependence on Turkish exports, Energia Group is building a factory in Istanbul to produce a range of Greek architecture furniture that will be sold to Turkish clients.
The Greek firm also plans to open a second factory in the city of Cappadocia, with plans to expand to more Greek cities in the future.
The Greek company is one of the few firms that has managed to export some of its products to Turkey.
Its flagship product, the Energias Kosteikin furniture, is currently being imported to Turkey for export.
Energia is also making furniture for domestic use.
The company said it will open two new factory sites in Istanbul and Cappadeş, and is also in talks with a local furniture manufacturer about exporting furniture to the Turkish market.
The furniture will be exported in 2019.
E2 Architects in Turkey, founded in 1999, specializes in Greek architecture and is a client of the Turkish furniture maker, Kostekin.
The firm has been exporting its products through its European branch since 2005.
It said it exported more than $1 billion worth of furniture in Turkey last year.
“Energias products are very affordable.
They are well made, they are very functional and, for me, they were more important than the Turkish products,” Energiaman T. Yildirim, who heads the E2 group’s Turkish division, told Bloomberg.
Turkish President Recep Tayyip Erdogan and Turkish Prime Minister Binali Yildırım have both spoken about the importance of Greek-made furniture for Turkish society.
Ebrahim Yildik, an Istanbul-based real estate agent who has been a member of the Greek-Turkish advisory group for Turkish clients, said the Turkish government is buying Greek furniture to be used in homes, offices and other buildings.
“They will buy furniture from Energios and Kosteks furniture and send it back to Greece,” Yildak said.
“The Turkish furniture companies are trying to diversifying their business in Turkey,” said Yildek, who did not have details on what products were being imported from Greece to Turkey, but said he saw the import of furniture as an investment for the Turkish economy.