Union of Chambers and Commodity Exchanges of Turkey

The 31^st İSEDAK Meeting on development in Islamic countries, convened at the İstanbul Congress Center. TOBB President and Islamic Chamber of Commerce, Industry and Agriculture Vice President M. Rifat Hisarcıklıoğlu extended his thanks for the opportunity given to the business community at the 31^st İSEDAK Meeting. Stating that President of the Republic of Turkey Recep Tayyip Erdoğan has been especially sensitive to the problems, Hisarcıklıoğlu reported that President Erdoğan has always supported those who share similar values like those Syria and Somalia.

- World is undergoing rapid change

Touching on the fact that the world has been undergoing a period of rapid change since the global economic crisis, Hisarcıklıoğlu said, “Economic and political balances are shifting; we are experiencing the birthing pangs of a new period. This is a time when those who can observe and prepare accordingly will prosper as a result. We, the Islamic world, must observe the world carefully. We must see the change. In preparing for this new global period, we must also look to ourselves for introspection.”

Stating that as Islamic countries, they are sitting on an invaluable treasure, TOBB President and Islamic Chamber of Commerce, Industry and Agriculture Vice President M. Rifat Hisarcıklıoğlu provided information in regards to the financial state of Islamic countries, pointing out that some Islamic countries are the poorest in the world while others are among the richest, “The wealthiest member of the Organization of the Islamic Cooperation is 630 times richer in terms of national income per capita than its poorest member. This should deeply disturb all of us. We are from a culture which would not sleep easy when their neighbors went hungry. The only way for Islamic countries to increase prosperity and decrease this unjust income disparity is by increasing trade between Islamic countries.”

- Priority is the Preferential Trade Agreement

Stressing the importance of the Preferential Trade Agreement for increasing the trade between Islamic countries, Hisarcıklıoğlu stated that this is the first step in economic cooperation. Pointing out that this means lower customs costs for some products, Hisarcıklıoğlu stated that even this small step is being met with pushback. Only 12 of 57 countries have signed and ratified the TPS-OIC.

- Visas and solutions to financial problems

Pointing out another important issue, the matter of visas, Hisarcıklıoğlu said, “Under the leadership of President Erdoğan, Turkey has taken many steps to address this issue. We have seen positive impact in a short time. Our bilateral trade volume with countries which we’ve waived visas with has increased significantly. We, the Turkish business community desire the implementation of a comprehensive and inclusive policy to this end.”

Hisarcıklıoğlu also emphasized the importance of resolving issues with the utmost expediency and speed; stated that arbitration provides the necessary tool to address the needs of business.

Stating that Turkey is the only country in its region which has been able to prosper without natural resources but rather thanks to its private sector, Hisarcıklıoğlu said that they are ready to share their experiences in this matter as the Turkish private sector and TOBB. He said, “We, Islamic countries, will prosper in sharing our prosperity. Our belief dictates that giving does not lessen goods, information or experience; it multiplies it. Let’s not forget that only this way can we raise the prosperity and peace of the people of the belief.”