Union of Chambers and Commodity Exchanges of Turkey

The 2014 Global Economic Report, which details the expectations of GCP members for the coming year, was announced in İstanbul prior to the EUROCHAMBRES Economic Forum.

It is emphasized that precautions need to be taken against possible treats stemming from financial systems.

It is also noted that market restriction tendencies also present risks for the global economy as well suggesting that unemployment, especially in regards to youth, should be targeted in the pursuit of a solution.

TOBB President and EUROCHAMBRES Vice President Rifat Hisarcıklıoğlu said, “As economies become globalized, institutions and regulations cannot remain on a local scale. Restrictions to trade and investments between countries need to be reduced while the observation and control of financial markets need to be increased.”

Hisarcıklıoğlu stated that another point of interest in the report was that the European business community sees that the solutions to the economic difficulties in European economies are to be found in structural reforms instead of monetary policies.

- “Ambiguity in the financial environment is effecting the real economy”

EUROCHAMBRES Honorary President and GCP President Christoph Leitl stated that the economic advances made by Turkey, especially when the shrinking European economies are taken into account, is admirable.

Stating that the TOBB President Hisarcıklıoğlu represents the Turkish business community successfully, Leitl reported that GCP represents 100 million companies as well as a billion employees.

Leitl commented that real economies need to be strengthened while financial markets need to be more strictly controlled.

Stating that according to the report, ambiguity in the financial environment is effecting the real economy, Leitl stated that improved performance in the US and EU economies would also positively impact other countries as well.

Chinese Chamber of International Commerce (CCOIC) Secretary General Lin Shunjie stated that China wishes to improve the partnership they have formed with the European and Turkish business communities.