The president of Union of Chambers and Commodity Exchanges of Turkey (TOBB) ,M. Rifat Hisarcıklıoğlu spoke at the 25. Business Summit of the Confederation of Asian Pacific Chambers of Commerce and Industry (CACCI) hosted by TOBB, stating that while the Asian Pacific countries ruled more then 50% of the world economy in 1980’s, this number was lowered to 18% in 1950’s, however, 50% of the world economy would belong to this region by 2010. ​

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Union of Chambers and Commodity Exchanges of Turkey

Half of the World’s Economy Will Take Part In the Asia Pacific Region by 2050


08.03.2011 / İstanbul



The president of Union of Chambers and Commodity Exchanges of Turkey (TOBB) ,M. Rifat Hisarcıklıoğlu spoke at the 25. Business Summit of the Confederation of Asian Pacific Chambers of Commerce and Industry (CACCI) hosted by TOBB, stating that while the Asian Pacific countries ruled more then 50% of the world economy in 1980’s, this number was lowered to 18% in 1950’s, however, 50% of the world economy would belong to this region by 2010. ​

 
Hisarcıklıoğlu noted that business world representatives of these respective countries were coming together with the main aim of making people richer, he continued, “Like how prosperity would enter a place, similarly those places where trade enters is filled with peace, welfare and stability. We strive for it.”
 
President Abdullah Gül
 
Turkey’s President Abdullah Gül said, “I believe that the miracle that taking place in the Asian Pacific region should be well analyzed. The beginning of the underlying factors of the success is the social prosperity and innotive methods adopted to attract foreign investment.”
 
Gül, delivered a speech in the 25. Business Summit of CACCI hosted by TOBB underscoring that is was quite clear that due to the global crisis that reduced the growth rate in Europe and America that eventually shifted the power balance to Asia, continuing, “ The growth is in the Asian pacific region. The growth in Europe and America is stagnant. Asia along with its production capacity, dinamism, and hardworking nature is providing great hope in overcoming the difficulties. Therefore, it is attracting all of the attention. Asia’s share in the production today is around 30 percent, and through the reports and calculations carried out it is said that this rate will increase to 60% by 2050.
 
The power shift that is taking place in the economic context, will undoudbtly  lead to shift in political population and military power. Initially the economy will liven up, economy will show itself and then later, this brings along political power, where political power exists military power will exist, as well. In other words, with the shift of the power from Europe Atlantic to Asia Pasific, Asia has now become the geopolitical and geopolitical center. This will become more evident.
 
Abdullah Gül stated that with the increase of weight of Asia Pacific, the rate of responsibility of the region increases as well, he additionally noted that the mass movements that are taking place in the Middleeast and Northern Africa is the concern of the world with regard to political, economical and energy security factors.
 
Turkey 's Asia Pacific policy
 
Abdullah Gül indicated that Turkey lies in a wide geography that includes Europe, Balkans, Caucasus, Central Asia, North Africa and Middle East, continued, “Istanbul is becoming the center of international trade and financial center of the world. At times we may hesitate due to political disturbance and instability in the region, but this actually works to the advantage of Turkey. All of the companies that are operating nearby are opening offices in Istanbul for the purpose of providing safe and secure area for their families. These offices do not only belong to nearby regions such as the Middle East but they also include offices of countries that are operating more abroad.”

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