Union of Chambers and Commodity Exchanges of Turkey

TOBB President M. Rifat Hisarcıklıoğlu attended the American International Economic Forum in Montreal, Canada, with his delegation and held talks with various parties.

Speaking at the Montreal Conference session opened with a keynote, “Rethinking Globalization,” by the Canadian International Development Minister Marie-Claude Bibeau, TOBB President M. Rifat Hisarcıklıoğlu stressed that SMEs are the locomotive power behind global growth and employment and said, “The implementation of more inclusive policies is necessary for the continuation of globalization.”

Hisarcıklıoğlu pointed out that almost all countries benefit from the global economic integration process, that is, from globalization. “In this period, Turkey's economy changed and became a global player. Thanks to globalization, Turkey has become an upper-middle income country and per capita income has grown by more than three times since the middle of the 80's. The volume of global investment in Turkey has reached 150 billion USD.”

- Need for a new definition of globalization

Hisarcıklıoğlu reported that more than 200 million people in the world have become unemployed and are under worsening of income distribution conditions due to weaponization of trade to solve political problems. “The rich have become richer; the poor have become poorer. We are fighting extremism and crises everywhere. Today, we are faced with critical migration problems, terrorism, anti-democratic initiatives and rising racism all over the world. These are all the consequences of non-inclusive policies of recent years. We all know that growth does not always affect every part of society. Moreover, it does not always diminish unemployment or improve income distribution. So we need a new definition of globalization; a more inclusive concept of globalization. For women, young people and underdeveloped countries, it is necessary to define a more inclusive globalization.”

- Meeting with Canadian Development Minister Bibeau

Hisarcıklıoğlu also held talks with Canadian International Development Minister Marie-Claude Bibeau and Canadian Chamber of Commerce President Perrin Beatty in Montreal during the conference.

TOBB President Hisarcıklıoğlu and his delegation will hold a series of talks in Ottawa and Toronto after their meetings in Montreal.