26.04.2025 Erzurum

The Union of Chambers and Commodity Exchanges of Türkiye (TOBB) President M. Rifat Hisarcıklıoğlu moderated the first session of the Palandöken Economic Forum held at a hotel in Erzurum, which was declared the “Tourism Capital of 2025” by the Economic Cooperation Organization (ECO).

Hisarcıklıoğlu expressed his pleasure to be at the forum and said that they supported the forum with Erzurum Chamber of Commerce and Industry and Erzurum Commodity Exchange.

Stating that the global economy is going through a great global turbulence, Hisarcıklıoğlu said, “In addition to geopolitical tensions and conflicts in many parts of the world, the possibility of trade wars that suddenly appeared in front of us has further increased global uncertainties.”

Regarding the impact on the economy, Hisarcıklıoğlu said: “When we wake up every morning, the first thing we look at is what surprise decision the US president took or how he turned 180 degrees from what he said yesterday. The scenarios written today make no sense the next day with the new announcement. In short, everyone in the world is trying to fish in murky water. The IMF released its global economic outlook report last Tuesday. The report says that a new era is beginning in the global economy. This new era is characterized by increased uncertainties, rising inflation, loss of momentum in global trade and, as a result, slower growth in the global economy. It is stated that growth rates in 127 out of 200 countries in the world will be lower than previously estimated. In all this chaos, we, as the business world, say and defend the following; There is no winner in trade wars. We say this not only as the President of TOBB but also as the president of the business world of 150 countries in every environment. Because such steps lead to chain reactions.”

Hisarcıklıoğlu noted the following: “Mutual retaliations, increased costs, disrupted supply chains, postponement of investment plans and a declining level of welfare, we saw this together in the American Depression in 1929. Unfortunately, we also saw the strengthening of extremism in the world at that time. In this context, as the business world, we say that there is no investment without trade, no employment without investment, and no prosperity without employment. For this reason, we say to the decision-making politicians all over the world, open the way for us, we do not ask for anything else from you. There is nothing else we can do for the development of the world economy. Thanks to the labor and work of Ömer Bolat, Minister of Trade, who has held important positions in the private sector as well as academics, the share of our country’s exports of goods and services from world markets has risen above 1 percent for the first time, a situation to be applauded. Allah willing, our target is bigger, the next target is two percent.”

(A.A.)