22.01.2020 İstanbul
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu, attending the Istanbul Chamber of Industry (ISO) January Council meeting, described the developments in Turkey and the world economy and spoke in regards to opportunities and risks in the economy.
Noting
that, except for 3 countries (Argentina, Venezuela and Sudan), a growth is
expected throughout the world economy, Hisarcıklıoğlu said, “Growth is expected
to increase in all regions except the United States. That goes for us, too.
Only the U.S. growth expectation smaller. There's a risk, and that's the high
borrowing rate. The world has never been so indebted. It's a big risk. The
wealth of the 1% has exceeded the wealth of the 99%. Capitalism needs
transformation. Capitalism must redefine itself. If we can't do that, no one
will have peace.”
- Risks and opportunities
Hisarcıklıoğlu,
who also made assessments about the Turkish economy, said, “After shrinking in the
first two quarters, we recovered. I'm estimating a 5% growth in the last
quarter. We are involved in this as a business community. We have risks and
opportunities. As risk factors; turmoil in the environment, relations with the
United States and the EU, risk factor, global protectionism, the situation in
exports with the UK after Brexit, and cyber security.
The
opportunities are: There is a 4-year period free of elections, which is the
right environment for structural reforms, looser monetary policies of the
United States and the EU, an increase in global fund flows, a decline in
interest-inflation SBS risk premiums.
The
problems in the world economy are no different from ours. What we are
discussing here, we are talking about them in EUROCHAMRES and in the world
economy.”
- Education, quality and R&D
3
critical issues in the Istanbul Chamber of Industry Council were evaluated: Education,
quality and R&D. Hisarciklıoğlu said, “Investment in education is an
investment in the future. As a businessman, I see education as the only area
where you never lose money from investing. It always profits. Today's Kayseri's
enrolment rate is actually at the point where the city will reach after 10
years. Allah bless all the benefactors.
Recently,
as TOBB, we have contributed $270 million to education in 81 provinces. To
date, we have made contributions that no province or organization has made. We
took into account whatever kind of school that province requires.
You
are a member of the İstanbul Chamber of Industry Council and a member of the
TOBB Community. See what these institutions do. Whoever was elected from which
sector is the leader of that sector. That's how I look at it. The TOBB
community is the most democratic institution in the country. As a leader, you
have to know and guide. So I say, come be a guest of your own institution in
Ankara. To date, we have trained 4,000 council members. I ask you to attend
these trainings in Ankara. Let's talk deeply about what we're doing.”
Hisarciklıoğlu,
who shared in detail what TOBB has done recently with the members of council of
the Istanbul Chamber of Industry stressed that many endeavors have been undertaken
which will pave the way for the business world, especially the improvement of
the business and investment environment, the KGF system vouching for members,
those that have been made in reaching financial resources, commercial credit
insurance and compulsory mediation.