Turkish maritime industry size exceeds $17.5B: Minister

Turkish maritime sector is worth $17.5 billion, while the industry employs one million people, Cahit Turhan, Turkey's transport and infrastructure minister, said Friday.

Turkey has a huge geographical advantage to have a say in maritime trade and maritime sector in the world, the minister said during the opening ceremony of the international maritime exhibition Avrasya Boat Show in Istanbul.

"Eighty-seven percent of Turkey's foreign trade is made via sea lanes, the Mediterranean Sea's share in the world sea transportation sector is over 25 percent," he noted.

Turkey ranked 3rd in the world among boat producing countries, the minister said.