Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu said that the world economy has grown at a slower pace than its long-term average for the last 6 years and that the situation would be the same this year.

Stating that Turkey will feel the slow global growth as well as the effects of regional instability, Hisarcıklıoğlu said, “Turkey is an integral part of the world economy. Following Brexit and Trump, we now also must take into account global uncertainties in addition to slow global growth. We are following a previously mapped path. We need to be prepared for surprises.”

Hisarcıklıoğlu emphasized that Turkey's national income, which was about 1,500 USD per capita in the 1980s, is now at 10,000 USD, emphasizing that Turkey should be open to the outside world and become an integral part of the world economy. Hisarcıklıoğlu said, “When the global crisis emerged, things started to get harder. The USA to entering a crisis presents problems just as it emerging from a crisis does. We experienced the first one 2008, now we are in a time when we will feel the effects of the second.”

- “We must protect what we have”

Hisarcıklıoğlu underlined that Turkey must protect what it has gained to prepare for the next economic leap, stating that Turkey was in a transition period so that it could reach a better place than today.

Hisarcıklıoğlu emphasized that Turkey is not the only economy slowing down, saying: “Global slowdown and global uncertainties are everyone’s problem. This, too, will pass. We are now in a transition period in which the world and balances are reestablished. We need to protect our power today to be able to make our move once the dust clears.”

- “The government provides important support”

Stating that the government has provided important support to the private sector, to preserve the power of the business world, Hisarcıklıoğlu went on:

According to OECD accounts, the employment load in Turkey is 38.3%, which means that 38% of an employer's gross wage costs are tax and premium charges. To this end the government has brought these burdens on employment to zero in 2017 in a revolutionary move. The employer is able to benefit from this incentive for every employee they recruit in 2017. For example, if sum cost of the minimum wage is 2,178 liras, of which 773 liras are paid to the state as tax and premium. The money the employee gets is 1,405 liras. Now our state says ‘We will pay for this 773 lira charge.' So your cost falls from 2,178 liras to 1,440 liras, which means the employer's employment cost is reduced by 35%.”

- “Many problems were prevented”

Hisarcıklıoğlu stated that the government has taken preventive measures against many problems reported on by TOBB. He stated that all property capital are allowed as collateral in regards to accessing financing and that entrepreneurs can move more easily while showing guarantees in accessing finance.

Hisarcıklıoğlu stated that the restructuring of the tax and SGK premium debts and the implementation of a new structuring for late installment payments is an important step for the business world. Hisarcıklıoğlu said that a 5% tax discount for those paying their taxes regularly is one of the most iterated demands of the business community.

Hisarcıklıoğlu pointed out that the removal of the SCT on home appliances and the reduction of VAT in furniture are good steps in animating the domestic market. Hisarcıklıoğlu said, “Interest-free loan support provided by KOSGEB following the Respite Credit  we’ve initiated with DenizBank and Ziraat Bank, is an important source of financing for the business community. Are there no other problem we have experienced as the business community? Of course there are; we continue to relay these to the relevant ministers in search of solutions.”

 - Private sector employment mobilization call

“As the government does not hesitate to give us considerable support in the protection of our gains, we are charged to do our part as well,” said Hisarcıklıoğlu and stated that they should contribute to the transfer of human capital of the country to the next generation without loss.

Hisarcıklıoğlu emphasized that he sees the employment mobilization with this mindset and said:

“I am convinced that the employment mobilization that we initiated under the auspices of our President, Recep Tayyip Erdogan, is extremely appropriate for the culture of worker-employer relations in Anatolia. I call on the private sector. Inshallah, this employment mobilization will succeed with the support of our government. Labor and Social Security Minister Mehmet Müezzinoğlu has announced that between February 1^st and 20^th, 103,000 people were employed. First information from Turkey and some companies indicates that the employment mobilization will be successful.

I invite all businessmen and businesswomen of Turkey to join the employment mobilization. Do you remember? There was an ad with the slogan, 'Peace at home; that’s what wealth is.' I also invite all of our entrepreneurs to support the mobilization of employment for the wealth of the country and the peace of the homes of the unemployed. This is the day to come together, to stand shoulder to shoulder. It is the day for worker and employer to work together. We are an integral part of the global economy and regional stability; we can overcome all of our troubles if only we stand together.”