TURKEY: Invest in Turkey, You Will Profit More
04.06.2009 Business | NATO & SE Europe | Turkey
Prime Minister Recep Tayyip Erdoğan seen applauding with businessmen and governemnt officials ahead of the Turkey-World Trade Bridge 2009 meeting opening ceremony organized by the Turkish Confederation of Businessmen and Industrialists.
"Those who engage in trade with Turkey during this period will surely secure more profit," Prime Minister Recep Tayyip Erdoğan said, addressing foreign businessmen attending the opening ceremony. Stressing that the global financial crisis has taken its toll on every country around the world and that its adverse effects on the economy have been visible for some time, Erdoğan noted that, starting from the first month of 2009, the Turkish economy had entered a process of recovery.
He noted that the Turkish economy is giving signals of recovery, particularly with respect to growth, and that capacity utilization rates in industrial production as well as figures regarding the producer and consumer index are improving daily. The prime minister argued that the Turkish economy will enter a growth trend starting this summer. "Those who engage in trade with Turkey and those who invest in Turkey during this period will see abundant returns. I would like to reiterate that exports will start to increase and that firms with long-standing ties with Turkish companies will find this process lucrative," he said. Erdoğan's message to foreign businessmen was that they can safely engage in business relations with Turkey without fear because Turkey is a country governed by the rule of law. "Put your concerns aside. We do not have a totalitarian or authoritarian system in place. Everything is governed by law. We will open our hearts and our doors and we will regard highly whoever invests in our country," he said.
Foreign Trade Minister Zafer Çağlayan stated in his speech that it is wrong to adopt protectionist policies in response to the global economic crisis and that protectionist countries should not expect to recover from the crisis on their own. "The timing of this program is particularly correct. It will contribute significantly to the world economy in the coming period. Estimates put talks concluded yesterday and today at TL 4 trillion," he said. Minister Çağlayan claimed that Turkey will recover from the crisis with minimal damage. "The era of earning easy money has now ended. Both the definition and the history of capitalism have changed, and we seek to redefine it. People can speak the language of trade everywhere around the world," he said.
Rızanur Meral, the chairman of TUSKON's executive board, indicated that the crisis is temporary and will end one day. "Our world is undergoing an important process of transformation. The ongoing crisis will obviously end one day and when it ends, there will be many opportunities. These opportunities, however, will not find those who just sit around and wait for them, but those who search for new markets and partnerships," he said. Meral explained that Turkey will launch trade initiatives geared toward Africa, the Far East and Latin America, adding, "Recently, Turkey made great progress and has become a major production center."
Turkish Exporters Assembly (TİM) President Mehmet Büyükekşi stated that the world economy is issuing positive signals and that he believe the future will be better for the economy. Noting that the Turkish economy is the world's 15th largest, he said: "The global economy is going through hard times. Despite all adversities, I must say that we can discern good signals. In particular, the oil market is showing signs of recovery from rock bottom. We do not allow ourselves to be demoralized, but we are trying to assess the situation from a positive standpoint."
Büyükekşi announced that Turkey has initiated bilateral talks with Latin America, China and India in order to boost trade with these countries. "Both sides will sell their respective products and services and in the end, both sides will be richer. The Turkey-World Trade Bridge will serve as a venue for bilateral talks, and it will be a bridge not only for trade, but also for welfare and peace," he said.
The Turkey-World Trade Bridge began on June 1 and will run through June 7. It targets striking about USD 7 bn in deals. About 2 000 businessmen from 115 countries are attending the event.
Also attending the TUSKON meeting, former Russian Prime Minister Yevgeny Primakov said Turkey has managed the ongoing crisis well thus far, having implemented effective measures in advance.
“Turkey remains one of the few countries that are relatively less affected by the crisis. This shows how the treatment in the economy was to the point,” he noted. Primakov underlined that Turkey has both geographic and financial advantages that will help carry the country to a higher place in the global arena in the coming years.
Making mention of the Nabucco project, which is planned to carry natural gas from Central Asia, the Middle East and the Caspian Sea region to Europe, the former prime minister said Russia had no opposition to it. “I do not think the realization of such a project will raise concerns in Russia,” he said, noting that Turkey plays a prominent role in energy transport to the European continent. “We would also like to lend Turkey support on the Baku-Tbilisi-Ceyhan [BTC] project,” he added. The BTC oil pipeline currently transports Azerbaijani oil to international markets.
Source: Today's Zaman