Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu emphasized that the TOBB and Chamber-Exchange community were the first exclaim their rejection, “We can never accept an authority which does not draw its power from the ballot and its authority from the people. We’ll never submit to a will other than democracy and the will of the nation.

Hisarcıklıoğlu stated that they will continue to work and produce with a greater determination to work for our country and our nation, keeping in mind the words of Mustafa Kemal Atatürk: Sovereignty is derived solely from the will of the nation.

Stating that they are always on the side of democracy, Hisarcıklıoğlu said that by repulsing this treacherous and cowardly attack against Turkey's democracy and the rule of law, they given the best answers to traitors.

TOBB President Hisarcıklıoğlu said, “July 15^th has been a historical stress test for Turkey's economy and politics.

This test was passed successfully by the grace of the nation and the robustness of our democracy witnessed. Our democracy and our institutions have proved that they are mature enough to not surrender brute force. An illegal organization within the state, the FETO gang was revealed.

Thanks to the national resistance against the junta enthusiasts a deterrent has been created for any possible similar future attempts.”

- What did the TOBB and the Chamber/Commodity Exchanges do in this process?

Hisarcıklıoğlu explained what they have done during this process as TOBB and the Chambers/Commodity Exchanges: “With the emergence of this treacherous coup attempt originated by the FETO, we put forth our reaction as TOBB and Chamber/Exchange community.

We were the first initiative professional organization which took action against the coup attempt.

As soon as the coup d'état declaration was published, at 00:22, we decried it; ‘We’ll never submit to a will other than democracy and the will of the nation. This is a day for democracy.”

Later, as TOBB, acted under three divided our activities along 3 axes.

An important part of them was an effective economy diplomacy. After July 15^th, there was serious information pollution abroad.

We contacted our 6 continental counterparts in 98 countries and 25 multinational business organizations to clear up the information pollution abroad.

We told people living in our country first hand. We gave briefings to business worlds of G-20 and Islamic countries.

The second important issue was to establish and raise investor confidence. We brought 300 major international investments companies active in Turkey together with our President and our Prime Minister.

The third area we focused were reforms. Because a strong economy and quality democracy complement each other. There won’t be one without the other.

In the Platform for the Improvement of the Investment Environment, we have served as a bridge between our business world and the government. We have made significant progress in the work we have done with the public administration on various regulations to improve the business and investment environment.”

- Economic bill of July 15^th

TOBB President M. Rifat Hisarcıklıoğlu underlined that there was an economic bill that resulted from July 15^th, “Without the coup attempt, our economy would have grown by around 5%.

We have lost close to 2 points in growth. Just the financial damage caused by the coup to the economy is 17.3 billion USD. Secondly, it resulted in a decline in employment.

In previous years, employment increased by 700,000-800,000 in the third quarter, while it increased by only 300,000 compared to the same period in 2016. So, close to 500,000 people who normally would have jobs remained unemployed. Tourism revenues also declined in comparison to 2016.”

Hisarcıklıoğlu, pointing out that there are some positive outcomes despite great malice, said: “We can draw important lessons for the future.

First, Turkey should know the importance and value of the concept of rule of law and democracy, must not allow the damage to the political accountability of the public institutional structure.

Second, the fundamental nature of our country, in that ‘the Republic of Turkey is democratic, secular, social state of law’ is a constitutional provision which must be meticulously maintained.

Thirdly, we must strengthen the democracy and the rule of law against the coups. Because neither principles democracy nor the rule of law cannot exist without the other.

Let none doubt that we will carry our country to our target of a stronger economy and a more prosperous Turkey.”