17.02.2014 Trabzon
During his presentation, “A Look At Turkey’s Economy from Trabzon,” at the Hürriyet Newspaper Regional Meeting TOBB President Rifat Hisarcıklıoğlu stated that the flow of capital has slowed down to a trickle, and that money will not be plentiful in the world in the future.
Touching on the importance of the Black Sea Region for Turkey’s economy,
TOBB President Hisarcıklıoğlu said, “This was, in fact, how it also was in the
past. Sultan Fatih turned first to Trabzon after conquering İstanbul. Trabzon
is the crossroads of both politics and economy.
I personally believe that the Black Sea region is fortuitous in all
manner of ways. When you look at the riches here, you see that there is as much
difference between you and Anatolia as big as Mount Zigana.”
Pointing out that Turkey is the first in nut exports, Hisarcıklıoğlu
said, “73% of all nut production in the world is made in the Black Sea Region.
Agriculture used to be a subsistence activity, now it is a profitable endeavor
and present extraordinary opportunities. Having the 11th largest
arable land mass in the world is great fortune for us. There has been an
increase in the price of agricultural goods in the last 10 years by 176%. This
means one thing. Countries which partake in agriculture will come to the fore
in the future. The world’s population increases by an amount equivalent to that
of Turkey each year. In the last 10 years, the number of people who moved up
from low income to medium income in Asia and the Pacific region is 500 million.
These people migrated to the city and became consumers. In the future,
societies which put importance of agriculture will move forth.”
- “How can there be contraband
oil in an oil country?”
Pointing out that the Black Sea Region also produces 5% of all tea in
the world, the TOBB President stated that the inability to prevent contraband
tea trade is a great disadvantage.
Emphasizing that the best quality teas in the world are produced in
Turkey, Hisarcıklıoğlu said, “The Black Sea Region is sitting on a treasure
hoard. One of the greatest income sources in the world is branding. We produce
5% of all tea in the world but we are the 20th in exporting it.
What I don’t understand is there is no contraband oil in Saudi Arabia,
an oil country. How, then, is there contraband tea in Turkey when Rize produces
tea? We have been unable to lower the 8% VAT underlying this situation. That
has resulted in contraband tea penetrating as far in as Rize, the production
center of tea.”
- “Money will no longer plentiful
in the world”
Stating his observation in regards to a capital flow trend in the world
since 2002, Hisarcıklıoğlu said, “When there is a plenitude of money, you spend
it easily. That is why we encountered the crisis of 2008. The world struggled
with global crisis and the related issue of diminishing resources in 2008 and
2009. Then came a period of economic quarantine, bringing along with it a
period of rapid resource exhaustion. We see that capital flow is in a downward
trend. Money will no longer be plentiful in the world.