Union of Chambers and Commodity Exchanges of Turkey

The TOBB Board Meeting was held with the attendance of Treasury Minister Naci Ağbal at the TOBB Twin Towers. Speaking at the meeting, Hisarcıklıoğlu stated that all of the crises undergone recently are a testament to the resilience of the Turkish economy for the entire world to see.

Underlining the fact that public services and private sector activity did not suffer at all following the coup attempt by the Fethullah Terror Organization, Hisarcıklıoğlu reported that the Medium Term Program projects a 3.2% growth rate for 2016.

Hisarcıklıoğlu emphasized that Turkey has rapidly recovered and continues to progress steadily, “It is imperative that we elevate the dialogue and cooperation between the public and private sectors during this period to the maximum. Thanks to you, we are able to convey our issues directly to the Ministry of the Treasury. We are able to find solutions to our problems. The first fruit of this process is the first investment environment package which was passed in parliament prior to the July 15^th coup attempt. We’ve taken revolutionary steps together.”

- Simplification of establishing companies will yield benefits

Emphasizing that the simplification of establishing companies will yield extremely beneficial results, TOBB President M. Rifat Hisarcıklıoğlu stated that the improvements to stamp tax and fees has been met with general approval.

Hisarcıklıoğlu drew attention to the fact that members are continuing to utilize the option to restructure debts and pointed out the importance of supporting investments a per project basis.

Hisarcıklıoğlu stated that these are the strongest indication that the government is looking out for investors and said, “There is a matter of great importance for me. It is planned to bring current deficit below 4% while raising growth rate to over 5%. This is imperative for Turkey to attain the path to sustainable growth. Also, the fact that the first 5 reform sections are aimed towards solving the various issues facing the private sector in regards to judicial processes is a source of great pleasure. We will relay many issues to the Minister today, as well as our suggestions for solving said issues.”

- Treasury Minister Ağbal

Treasury Minister Naci Ağbal stated that the reforms and legislative regulations would make the Turkish economy even stronger, “Our exports and growth rates will increase.”

Minister Ağbal, touching on the July 15^th coup attempt, extending his thanks to TOBB and its members for their stance against the putschists.

Following the speeches presented Minister Ağbal with an engraved plaque. After gifts were exchanged, the meeting took place closed to the press.