Union of Chambers and Commodity Exchanges of Turkey

Having attended the annual World Economic Forum in Davos, B20 Turkey and TOBB President M. Rifat Hisarcıklıoğlu spoke to TRT News.

Stating that many issues were discussed during the meetings, Hisarcıklıoğlu said, “For instance, the interest decision of the American Central Bank effects the whole world, negatively or positively. Connected as we are to the global economy, we are effected as well. Additionally the decision of the Swiss Central bank concerns us all.”

Hisarcıklıoğlu stated that the unexpected drop in petroleum prices has been met with happiness and sadness, neither of which know what to do in this situation.

Stating that obstacles for the World Trade Organization need to be eliminated, Hisarcıklıoğlu said, “Countries are moving to implement austerity measures while at the same time, regional cooperation is on the rise.

Today, the US and Europe have begun discussing their economic platform. The results of Turkey being included and being excluded in this will differ greatly.”

Emphasizing that Davos meetings have been very busy, Hisarcıklıoğlu said, “Income inequality is being discussed; and there is an extraordinary amount of income inequality. There is a growing middle class. How will society act in the face of this inequality?

Unemployment continues to be our greatest problem. Youth unemployment is a problem unto itself. There are security concerns. These issues must be addressed through exchange of ideas and dialogue, discussing possible solutions.

Another issue is the emergence of various diseases. While not effected any great degree at the moment, this effects the whole world, spreading fear. We are seeking solutions to these problems.”

Hisarcıklıoğlu pointed out that foreign business people show great interest in Turkey.

- “As the Turkish business community, we must make use of the opportunities presented to us”

Stating that Turkey has not hosted an organization like the G20 or B20 before, Hisarcıklıoğlu reported that in activities throughout the year, approximately 10,000 foreign business people will visit Turkey and seek solutions to their issues.

Hisarcıklıoğlu, stating that inclusivity is one of their priorities during Turkey’s G20 Term chairmanship and said:

“Until today, there have been groups excluded from this process. G20 convened following the 2008 Greek crisis in conjunction with the financial crisis in the US. This was an event in which only Ministers of Treasuries attended before.

It is evident that from the advent of the financial crisis in the USA to the intervention in Greece, acting in coordination will lower cost and present a faster solution.

This has encouraged leaders and directors the economy. It has also encouraged the business community. In this regard, as the Turkish business community, we must take advantage of the opportunity presented to us.

We’ve formed 6 task forces. These will discuss the issues of the business community on a global scale and present their findings to world leaders.

According to the task force for trade, the global trade used to be twice, three times what it used to be. We are following an interesting line. The world’s economy is growing but the global trade is not increasing on par with it.

This is important: Digital economy has become a part of trade. The effects of this, how to benefit more from this are being discussed. Infrastructure and investments and the financing thereof is also the field of another task force. You can’t draw in investment without infrastructure. These are our priorities.”