15.12.2019 Kadirli Adana

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu who attended a joint consultation meeting organized by the Kadirli Chamber of Commerce and Industry and the Kadirli Commodity Exchange, said that private sector banks have begun reach out to tradesmen to lend after public banks start lending at low interest rates.

Hisarcıklıoğlu stating that the country's economy is going through a difficult period, said the tradesmen are most affected by the problems experienced.

Hisarcıklıoğlu expressed their belief that the troubles will be overcome next year, “Thanks to the measures and decisions taken by our government, I hope we will come out with positive growth next year. It is anticipated that both growth will increase and the domestic market will revive next year.”

Noting that the biggest problem of tradesmen and producers recently is the high interest rates and difficulties in reaching the loan, Hisarcıklıoğlu said:

“As a result of our contacts with our government, our public banks have both lowered interest rates and started lending again. Nowadays I see that private sector banks are now going to our shopkeepers and asking 'Do you want to use credit?' Campaigns launched in locomotive sectors such as housing and automotive for the revival of the domestic market have provided us with morale.

The biggest complaint of the retail sector was the high level of POS commissions. Again, as a result of our initiatives, 1.6% commission has been rescinded. For the last 10 months, we have implemented insurance on our receivables. Now the money that we have difficulty both in payment and in receiving is now insured.”

Hisarcıklıoğlu stated that they are continuing their efforts to improve the investment environment and Turkey has never been among the top 50 among 190 countries in the World Bank's Ease of Doing Business Index before.

Hisarcıklıoğlu, reporting that two years ago, Turkey rose from 63^rd to 43^rd place as a result of their work with the government and ministries, “With the support of our ministries this year, Turkey ranks 33^rd in the Ease of Doing Business Index. We still have a long way to go.”