Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu stated that Çavuşoğlu would best represent Turkey in Europe and expressed great pleasure in his appointment.

TOBB President M. Rifat Hisarcıklıoğlu spoke regarding recent development, “The developments of the recent days are known to all. On top of all this, the Central American Bank has decreased the flow of currency. These two developments have caused fluctuations in the exchange and interest rates of our country.”

Hisarcıklıoğlu, stating that the private sector has a foreign debt volume of 277 billion USD, went on:

“We have a national credit debt of 1 trillion TL in the domestic market. Both the increase in exchange rates and the increase of interest rates to the double digits present significant risk for us. We must conduct enough investments each year to provide employment to 1 million new people each year. In just the first 9 months of this year, we have invested a total of 125 billion TL as the Turkish private sector. With this, we have provided employment to 470,000 people. We must focus on preserving our companies who have made possible this success even more now than previously.”

Hisarcıklıoğlu pointed out that new global partnerships centering on the USA and the EU are gaining momentum, and the world will encounter a new order spanning the Atlantic and the Pacific in the next two years. Hisarcıklıoğlu emphasized that peace, stability and the rule of law are imperative for the continuation of the positive development of Turkey in the last 10 years.