Union of Chambers and Commodity Exchanges of Turkey

B20 Turkey Chair and TOBB President M. Rifat Hisarcıklıoğlu said, “The world is focused on the FED’s decision and the fluctuations in stock and currency markets. That is why the business community has taken a ‘wait & see’ approach in regards to its commerce and investment decisions.”

As a part of the G20 Leaders Summit, the B20 Summit was held, attended by board members and high level administrators of many prominent Turkish and international companies.

In his opening keynote of the summit, Hisarcıklıoğlu expressed his grief regarding the Paris terror attacks of the previous day, extending his condolences to the people of France.

Drawing attention to the importance of the summit in regards to shaping global markets, Hisarcıklıoğlu reported that they’ve worked hard to hold the B20 meeting during G20 Turkey’s term and that they are holding the meeting with strong government support.

Hisarcıklıoğlu stated that, compared to 11 months ago, ambiguities in the world’s economy have increased and that it is affecting everyone. Drawing attention the rapidly developing digital world, extremism and crises in many regions, Hisarcıklıoğlu stated that they are working against many difficulties in the field of employment at such a tumultuous time.

- “G20 must take the necessary steps”

Reporting that 200 million people throughout the world are unemployed, Hisarcıklıoğlu also stressed the problems stemming from immigration.

Stating that growth has slowed in the European Union, as well as a slowing down in China’s and developing markets’ growths, Hisarcıklıoğlu said:

“That is why the global economy has become weak. The world is focused on the FED’s decision and the fluctuations in stock and currency markets. That is why the business community has taken a ‘wait & see’ approach in regards to its commerce and investment decisions. This situation is causing ambiguities in commerce. That is why G20 must take the necessary steps to reduce ambiguities and ensure stability in global markets. We cannot solve the big problems of the day alone; global cooperation is a must. G20 has shown that it can be an effective platform to this end.”

Stating that the decisions made by G20 in 2008 and 2009 played an important role in bringing the crisis under control, Hisarcıklıoğlu said, “Now, G20 must once again take an active role in this post-crisis time. The key word for healthier and more effective policy generation is inclusivity.”

-  “Support for refugees needs to be proactive”

TOBB President Hisarcıklıoğlu stated that employment opportunities need to be created for everyone in the world, underlining the importance of being proactive in regards to supporting refugees.

Emphasizing that the goal is to increase inclusivity, sustainable development and competition as well as mobilizing the business community, Hisarcıklıoğlu said, “History has shown that refugees, if supported, positively impact economy and financial activities.”

Stating that G20 country’s must determine the needs of their economies and plan accordingly, Hisarcıklıoğlu said, “Governments should not act alone, it is our duty to present our know-how to G20 leaders. We must strengthen global communications. I believe that China will continue this trend in the coming year. We will support all endeavors to this end.”

- Deputy Prime Minister Cevdet Yılmaz

Deputy Prime Minister Cevdet Yılmaz also extended his condolences for the terror attacks in Paris and called for cooperation against terrorism.

Emphasizing that it has been a tiring year in regards to the global economy, Yılmaz stated that it has also been a fruitful year for G20. Yılmaz stated that the decisions made in G20 are effecting the global economy quite significantly.

Stating that they’ve focused on SMEs, Yılmaz also reported that women and youth have been under significant attention during Turkey term as chair.