Union of Chambers and Commodity Exchanges of Turkey

TOBB Higher Coordination Council meeting was realised  on 19 April 2011 in TOBB with the host of TOBB President M. Rifat Hisarcıklıoğlu and the participation of Minister of State and Deputy Prime Minister Ali Babacan.

Hisarcıklıoğlu made an opening speech at the meeting and he emphasized that Minister Babacan’s economy policy with the consultation of private sector had an important role with the recovery of the economy and Babacan supported the realisation of the Code of Commerce and Code of Obligations.

Hisarcıklıoğlu noted that Turkey reached the peaks on national income, private sector machinery and equipment investment and private sector employment. He also said that that Turkey is one of the 24 countries and the 9th of these who reached the level of pre-crises production level in 2008-2010 period and the 2nd country in Europe and Middle East after Poland and Israel who realised the most rapid recovery from crises

-Positive Aspects in the Economy

Hisarcıklığlu emphasized that the financial discipline, the stability of the financial system, the positive expectations of consumer and non-financial sector and the low levels of risk premiums are the positive aspects of Turkish economy.  He told that because of the late recovery of the EU countries who consist the largest market of Turkey and the increasing petroleum prices , our imports increases faster than the exports and the importance of exports increased in 2011 and after besides the positive aspects.


TOBB President Hisarcıklıoğlu told that the 2010 growth rate was dependent to private sector investment and also added that foreign trade should contribute the growth for the strong growth performance.

Hisarcıklıoğlu told that both the largest industrial production regions of Turkey and the maritime sector are represented in the Higher Coordination Council and he expressed his confidence for the continuation of the rapid economic growth with the cooperation of private sector, government and bureaucracy.

-Minister of State and Deputy Prime Minister Ali Babacan

Babacan made a speech at the TOBB Higher Coordination Council meeting and the he mentioned that the region around Turkey is going through a rough period because of the civil commotion in the region and Turkey’s steps has a great importance in this transformation period in order to get new opportunities. Babacan also told that the new constitution will be the first agenda of the government after the elections in order to keep the confidence environment in the Turkish economy.

Babacan told that consultations can be made efficiently with the participation of a number of people who have representative authority and TOBB contributed many of the governmental decisions in the last two years with their consultancy.

-Structure of TOBB Higher Coordination Council

TOBB Higher Coordination Council which was founded with the TOBB Law No:5174, consists of 15 members selected from Chambers and Commodity Exchanges who act as the opinion leaders of the Turkish private sector. It has important roles like institutional and structural changes and transformations and the members of the council represent Chambers of Commerce, Chambers of Commerce and Industry, Chambers of Industry, Commodity Exchanges and Chambers of Shipping.
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