Union of Chambers and Commodity Exchanges of Turkey

M. Rifat Hisarcıklıoğlu, along with TOBB Board Members, met with county chamber and exchange presidents and the representatives of the business community at the Bursa Chamber of Commerce and Industry (BTSO) facilities, hosted by the BTSO.

Reporting that 65% of our exports are conducted against goods, Hisarcıklıoğlu said, “65% of our exports are at the mercy of the buyer. When importing, we pay in cash. This is a great risk. Our import/export deficit is increasing each year. It was 61% last year, now it’s 65%. Get insured with Eximbank. Please use insurance in domestic commerce as well. There are companies insured for debt. This is good. They want to do business in Bursa. Make sure to insure your transactions on credit.”

Pointing out that Bursa was an Ottoman capital and the location of the first OIZ, Hisarcıklıoğlu said, “The first high-tech OIZ would befit Bursa.”

Drawing attention to the fact that the efficiency of the industrial facilities in Bursa are 30% better than their counterparts throughout Turkey, Hisarcıklıoğlu stated that if Turkey catches up to Bursa, the Turkish economy would leap forward with 1.2 trillion USD to be among the top 10 economies of the world.