International Transporters' Association

Problems in the Red Sea are estimated to cost an additional $2 billion to Türkiye as personnel costs and prices of certain goods, especially electronic goods, are rising due to the Houthi attacks on ships in the waterway, according to the business associations.

Turkish exporters have inked deals on a new route through Iran to transport their goods to Gulf markets if Egypt does not renew its deal with Turkey on April 22, according to sector representatives.