Union of Chambers and Commodity Exchanges of Turkey

 “2015 will be year of starts and stops for us in general,” said Hisarcıklıoğlu and went on, “Looking at Turkey’s growth figures, while we leaped forward following the 2008 global crisis, we hit the brakes. As of the end of 2014, we’ve achieved 2.9% growth. Our industry has grown by 3.1% during this period. I would like to congratulate all the industrialists in the Sincan OIZ. The growth rate of the Sincan OIZ is over double that of Turkey. Sincan OIZ has grown by 7%.”

Reporting that there are no expectations for a quick recovery in the first quarter of 2015, Hisarcıklıoğlu stated that this is due to weakening export markets and the adverse effects of the fluctuations in exchange rates have had on the domestic market.

Hisarcıklıoğlu stated that employment is one of the most important indicators for industrialists, reporting that the Turkish business world has created 1.3 million new jobs in 2014, 1.1 million of them in the real sector and stated that this is a source of great pride for them.

Pointing out that 4.194 million people found jobs between 2008 and 2014 in Turkey, Hisarcıklıoğlu stated that 5.898 million people lost their jobs in Europe during the same period.

- Risks and opportunities

Hisarcıklıoğlu stated that risks for Turkey in 2015 would be the exchange rate decisions made by the Fed, turmoil in the surrounding region and the election process while the expected monetary expansion in Europe, drop in oil prices and the structural transformation programs which have been announced would present Turkey with opportunities.

- “There will be two types of cheques on the market”

Reporting that QR coded cheques will be entering circulation following their meeting with Deputy PM Ali Babacan, Hisarcıklıoğlu stated that a new transaction instrument would become available.

By scanning the QR code of the cheque, one would have access to information regarding the transaction history of the person who gave you the cheque. This would include whether the owner has unpaid debts or has given out bounced cheques in the past, Hisarcıklıoğlu went on, “You would have the option of asking for a regular or QR code cheque. With QR coded cheques you would have additional information and not be working on hunches.”