Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu reported that the Confederation of Asia-Pacific Chambers of Commerce and Industry has convened for the preparations of the Asia-Pacific Economic Summit, scheduled to take place in Istanbul in November.

Hisarcıklıoğlu stated that they will discuss the date, place, theme, titles, program formations and speakers of the conference. “I would like to thank Jemal Inaishvili, President of CACCI, Samir Modi, Deputy Director Ernest Lin and all members of the CACCI Planning Committee; thank you for coming to my country and honoring us.”

Pointing out that the Asia Pacific region's holds 40% of the world's population and 23% of the world's economy, TOBB President said, “The Confederation of Asia Pacific Chambers of Commerce and Industry is the largest business community in the region. It represents about 3,000,000 companies in 28 countries. We want strong economic integration with businessmen from the Asia-Pacific Region in Turkey. We take into account the growing importance of the Asia-Pacific region for the global economy, and we are working to create synergy for everyone.”

Hisarcıklıoğlu pointed out that the level of economic relations in regards to industry and trade between Turkey and the countries of the region is not where it should be.

Reporting that percent share of the Asia-Pacific region of Turkey's exports is only 7%, while imports stands at 24%, Hisarcıklıoğlu said, “A similar situation can be observed in investments. Between 2000-2017, Turkey drew in $150bn in international investments. The share of Asia-Pacific countries in that is just 5%, or $8bn.”

Hisarcıklıoğlu stated that, as TOBB, they regard CACCI member as their strategic partners: “Our vision is to provide strong and lasting economic integration between the business world in the Asia-Pacific region and the Turkish business community. Turkey became Association of Southeast Asian Nations’ (ASEAN) sectoral dialogue partner in 2017.

Turkey hosting the CACCI Conference will bring together the umbrella organizations and companies of the business communities of the Asia - Pacific Region countries. This will increase the visibility of Turkey in ASEAN, and enabling us to establish stronger economic relations with East Asian countries which we previously had not been able to foster robust ties with.”

Explaining that CACCI organizes conferences every year, in a member country, where both regional and global economic issues are discussed by representatives of international organizations and business leaders, Hisarcıklıoğlu stated that the 25th CACCI Summit held in 2011 was hosted by TOBB in Istanbul with the participation of over 400 business people and business organizations from 22 counties.

Stating that they are aiming for greater participation in Istanbul this year, Hisarcıklıoğlu went on: “It is projected that the 21st century will be the ‘Pacific Century.’ The Mediterranean was the ocean of the ancient world. Atlantic is the ocean of today. The Pacific looks to be the ocean of the future. Economic developments show the shift of the center of gravity of the world economy to Far East Asia. So we are entering the Pacific century. On the one hand, there are innovation and technology giants like Japan and Korea. On the other hand is Pakistan, Indonesia, Vietnam, the Philippines, covering such emerging markets and all kinds of products produced in different qualities and scales in this region. With over 3bn consumers, the largest global market is here. CACCI countries import goods and services around $5 trillion a year.

Economic growth is above the world average. The growth rate of this region in the last 5 years is 6%. The growth expectation for 2018 and 2019 is 6.5%. The Asia Pacific region, therefore, has the power to determine the course of the world economy.”

In this period of change in the world balance, during which holding the Asia-Pacific Economic Summit in Turkey is quite significant, Hisarcıklıoğlu said, “Turkey, a country with a national income of $850bn, a goods exports of $160bn; a country which exports $43bn of services. It is the country with the largest industrial production capacity between Italy and China. It is a country that aims to catch $1.1 trillion in national income by 2020. The 17th largest economy in the world; 6th largest in Europe. The 6th largest supplier to the European Union. We want to show Turkey's great potential to the Asia-Pacific business community. We aim to increase the trade and investments between us and to establish new partnerships and cooperation.”

Hisarcıklıoğlu said that the Asia-Pacific Economic Summit will provide an environment in which the region’s business world leaders and representatives of international organizations will meet to create strategic partnerships with new business and investment opportunities; which will bring the Turkish business community together with the Asia-Pacific business world.

- “TOBB is one of our strongest, most active members"

CACCI President Jemal Inaishvili stated that CACCI was established in May 1966 and represents 28 countries, guiding the business world in order to advance the regional business cooperation in the Asia Region.

Inaishvili stated that TOBB is one of its strongest and most active members and went on:

“We represent almost the largest part of the world and this year we are organizing the Asia-Pacific Economic Summit again in Istanbul. The CACCI Summit is as a very effective tool in terms of exchanging ideas. Such matters as the Asian economic crisis, trade liberalization, climate change, etc. will be discussed. The 32nd CACCI Conference will be held this year in Istanbul for the second time.

TOBB President and CACCI Vice President M. Rifat Hisarcıklıoğlu, CACCI President Jemal Inaishvili, CACCI Vice President Samir Modi, CACCI General Director Ernest Lin, TOBB Vice Chairman Ali Kopuz, TEPAV Director Prof. Dr. Güven Sak and CACCI Planning Committee members attended the meeting.