Union of Chambers and Commodity Exchanges of Turkey

In his address, TOBB President M. Rifat Hisarcıklıoğlu reported that this visit represents a total net stock investment of over 150 billion USD to date. Hisarcıklıoğlu also read out the joint proclamation prepared at the previous meeting in TOBB in the presence of President Erdoğan during the reception. The proclamation stated, “We who have invested in Turkey are hard at work. We are continuing to produce, export, invest and create jobs. Because we know that those who invest in the future of Turkey will profit. We who invested in the future of Turkey yesterday have profited today; and those who invest in Turkey today will profit tomorrow.”

The joint proclamation read by Hisarcıklıoğlu is as follows:

“Turkey has repulsed an attempt on democracy and the rule of law on the night of Friday, 15^th July. One thing is very clear: Turkey does not accept the legitimacy of any authority which is not derived from the ballot box, from the people; Turkey does not accept anything but democracy for its future.

Our democracy and the democratic institutions of Turkey have proved that they have matured to a point which is beyond yielding to brute force. Those who challenged the democratic and political gains of our country in the last 93 years have failed. Our duty now is to ensure that daily life returns to normal as soon as possible and to transform Turkey into a country which looks to the future with excitement and anticipation. We will do our part to this end.

As the business community we are determined to return to our economy agenda and to continue on our way. In this regard, we have come together as TOBB, YASED, Türk-İş, Hak-İş, TİSK, TZOB and the international corporations which have invested into the future of Turkey to assess the situation.

We’ve renewed our determination in regards to reforms to be undertaken in line with Turkey’s strong growth vision. The same leadership of the President of the Republic of Turkey seen on the 15^th of July against the heinous coup attempt is necessary to achieve the leap forward in reforms and economy.

The understanding between parties which formed following the coup attempt in regards to democracy and the rule of law is of a quality which will only support Turkey’s future global aspirations.

It is important to transfer this understanding to the formation of a new constitution which will strengthen the democracy and rule of law and ensure judicial independence. Additionally, the EU accession process will facilitate this institutional transformation, strengthening Turkey’s global position.

The state of emergency is a necessary and limited measure which is needed to normalize daily life in the shortest time possible. To this end we are eagerly waiting for the implementation of the Improvement of the Investment Environment Legislation which is necessary for the financial leap of Turkey’s economy.

The Improvement of the Investment Environment Legislation, Intellectual Property Legislation Bill, the Production Reform Package and Investment-Exporting Incentives Reform Packages which have been in preparation, play an important role in the eyes of the international investors in regards to Turkey’s global aspirations.

Especially strengthening this reform package with incentives aimed at international investors, taking affirmative action in regards to taxation for high tech investments will enable Turkey to draw in investments in the future.

It is necessary to ensure businesses that their day to day activities will not be affected by these tumultuous times; it is also necessary that the reform process be conducted transparently while consulting with the private sector and forming an effective public-private sector cooperation mechanism to this end. These high level talks are a precursor for just such a cooperation and are therefore of the utmost importance.

We who have invested in Turkey are hard at work. We are continuing to produce, export, invest and create jobs. Because we know that those who invest in the future of Turkey will profit.

We who invested in the future of Turkey yesterday have profited today; and those who invest in Turkey today will profit tomorrow.”