When The High Court anulled some of the articles, The Social Securities Bill was postponed for six months but the government officials declared that the reforms will be implemented.
The Social Securities Bill was postponed until June 1st 2007 following the anullment of some articles upon the application of president Ahmet Necdet Sezer and CHP to the High Court.
The ruling was found highly controversial, especially because the end result of the ruling was considered to have caused inequalities among citizens.

Our Association will host 'Textiles and ready to wear sector after 2008, opportinities and Pitfalls" seminars to be held on February 9th 2007 in Istanbul Hyatt Regency Hotel.During the seminar, the situation of the textile trade of the world after 2008 when all the quotas will be abolished and the new terms of competition as well as the role Turkey will be playing in this market will be discussed.

Mr. Terry Towsend, General Manager of ICAC, Mr. Walter Simeoni, president of ITMF, Mr. Herwig Strolz, Honorary General Manager of ITMF, Chairman of Euratex Filiep Libeert, Mr. Yakup Gungor, Vice-president of our Association and Mr. Dick Hendricks, General Manager of the firm TENCATE will beamong the participants of the seminar.

The turkish economy continued its growth in the last year it has sustained in the last five years. New records were set in exports and foreign investment. Due to the increasing interest in the Turkish banking sector, direct foreign investment reached 17.5 Billion dollars, a new record.Two negative points inherited from 2006 are high unemployment and trade deficit. These two subjects presenting big problems for the economy pointed once more to the importance of textiles in the economy because of the high number of employment in textiles and because of the fact that textile foreign trade presents a positive balance.But, textiles have their own problems, namely, high increases in cost. The sector had difficulties coping with the low priced products coming from the far east and lost considerable numbers of its work force. But even with these unfavorable circumstances, textiles continued its growth in exports.
Experts say that the sector is adapting itself to the terms of global competition but representetives of the sector like Mr. Halit Narin, President of the Turkish Textile Employers Association insist that the sector must be supported in its battle against unfavorable terms such as high input costs.

Turkish textiles is enjoying a resurgence in its most important market, the EU.
The Turkish manufacturers who are spending great efforts in improving quality and in establishing brand names in order to compete with the cheap Chinese products, have started to reap the rewards of their efforts in the first seven months of 2006.
Especially effective in this resurgence are the knitted fabric manufacturers who have opened their own shops in important cities of Europe like London, reclaiming the markets they have lost to China in the Past.

Following the drop in the rate of VAT in textiles in May, the inflation rate turned out to be higher than expected. As a result, the textile sector was immediately made the scapegoat for the undesired occurance.
The seasonal fluctuations in the price of textiles were ignored and the sector was declared as the culprit for the price increases by Mr. Kemal Unakitan, the Minister of Finance who said: "We lowered the VAT for them, but they did not reflect this decrease in their prices"

The 8th International istan-bul Fashion Fair was held in TUYAP Beylikduzu between the dates August 24th and 26th.
The Fair, held for the eighte-eth time this year, consisting of many attractive fashion shows, discussion panels, exhibits and other presentations as well as stands were visited by many prominent guests making it the center of fashion.
The "Metal Collection" of fashion modelist Gianni Versace, prepared with the slogan "Fashion is Life" was presented for the first time during the opening ceremony of the Fair. Important figures of the Industry and Government also attended to this show.