Turkey accounts for 4 percent of the world's total jewelry market, a Turkish official revealed.
Turkey generated $4.4 billion in revenue from jewelry exports last year, accounting for 4 percent of the world's total market, deputy trade minister Reza Torna Torgai said.
Torgay made the statement at the 8th ASEAN Jewellery and Gem Associationconference in Istanbul, the Association of Southeast Asian Nations (ASEAN), which is known as the "G20" for the jewelry sector.
More than 100 representatives from 37 countries with a stake in hundreds of billions of dollars in the world's jewelry trade, mainly Southeast Asian countries, are participating in the conference.
Torgay added that the $4.4 billion does not reflect Turkey's jewelry potential, and that it can achieve much larger figures, noting that Turkey produces the world's newest and finest products.
He explained that ASEAN countries import jewelry worth $4.1 billion annually, and that Turkey's exports to those countries amount to only $45 million, stressing the need to raise the value of Turkey's exports to those countries.
Torgay stressed the importance of the conference, especially in terms of developing cooperation and introducing Turkey's potential in this area. He addressed the participants: "You have raw materials and we have the potential for production and skilled and experienced manpower, we have to work to unite them."