Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu said; “In the first half of 2010, the number of companies established in Turkey was 1,523, capital invested 219 million Liras, partnership ratio 43%. The numbers for 2011 were 1,702 companies established, 1.201 billion Liras, partnership ratio 79%. The capital brought in to newly established companies with foreign partners in the first half 2011 increased to 6 times the previous figure. This is indicative of Turkey’s potential and foreign trust in Turkey. Foreign companies have adopted Turkey as a central country for conducting business throughout the region.”

- “Current deficit renders fluctuations in the exchange rate inevitable”

TOBB President Hisarcıklıoğlu stated that current deficit renders fluctuations in the exchange rate inevitable and that the private sectors foreign currency debts would negatively impact profits.
According to the Central Bank’s figures, the private sector has a total of 150 billion dollars foreign debt, 63 billion dollars of it in the finance sector and 83 billion dollars in the real sector said M. Rifat Hisarcıklıoğlu and went on to say that this would bring on 58 billion dollars loan maturity in the next year.

- “Turkey’s share in Europe’s imports has decreased”

In his speech, Hisarcıklıoğlu stated that Turkey has been affected by the crisis in Europe and the share in Europe’s imports has regressed from 66% to 56% for a sum of 700 billion dollars.
Turkey’s record growth in the first quarter was caused by the private sector Hisarcıklıoğlu stated and went on to say that exports are not increasing at the desired rate and that the figures in exports pre-crisis are not being met.

Hisarcıklıoğlu stated that the diversification of the exports markets need to be hastened, “Our target markets must be chosen carefully. We barely trade in 26 of the 50 greatest export markets. We must widen our scope. If we are aiming to become one of the 10 largest economies in the world we must take part in new markets.”

Saying that the rising exchange rates would positively affect the regaining of lost markets but that the imported input may raise costs, Hisarcıklıoğlu stated that the Mid Term Plan’s predictability would allow the private sector to plan ahead.

- Development in the companies in Anatolia

Hisarcıklıoğlu, pointing out the development in the companies in Anatolia, explained that some companies were investing internationally. Stating that these companies, instead of producing excuses were conducting goal-oriented business, TOBB President said that “In order to understand the future in Turkey we must perceive the changes in Anatolia and the companies there.”
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