Turkish exports may reach $60 billion in 2004, well above an official target of $51.53 billion under a $19 billion accord with the International Monetary Fund, the foreign trade minister said on Thursday.
Exports are seen as the engine behind Turkey's economic recovery from a severe recession in 2001, when the economy shrank by about 10 percent.
"With this rising trend, I believe we can comfortably beat $58 billion and reach $60 billion," Kursad Tuzmen, foreign trade minister, told a meeting of the Turkish Exporters Assembly (TIM).
Foreign trade under-secretary Tuncer Kayalar said last month exports could comfortably reach $56 billion this year.
According to unofficial TIM data, Turkish exports climbed 35.5 percent in the first half of the year to $29.368 billion.
Separately, TIM Chairman Oguz Satici urged the government not to give up incentives for manufacturing industry and investment in a follow-up deal with the IMF when the existing loan accord expires in February, 2005.
"Lower profitability and lack of depth in financial markets make new investments and capacity increase impossible," said Satici.