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3/29/2022

The General Assembly Meeting of TÜSİAD is Held

President of Turkish Enterprise and Business World Confederation (TÜRKONFED) Orhan Turan has been elected as the Board Chairman of TÜSİAD…

Chairman of the High Advisory Board of TÜSİAD Tuncay Özilhan: “Price increases in energy, food and other basic commodities and supply shortages will have their most adverse effects on Europe and us”…

Board Chair Elect of TÜSİAD Orhan Turan: “We will sustain our studies and works targeting a climate where competitive market economy, social welfare and sustainable environmental balance are adopted with the baseline of ‘freedom is sacred’ and taking participating democracy and a secular state of law as basis. We will always continue to defend values of the republic arousing from an understanding of contemporary, secular, democratic and social state of law which is the legacy of the unique vision of Mustafa Kemal Atatürk”…

The 52nd Ordinary Meeting of the General Assembly of the Turkish Industry and Business Association (TÜSİAD) is held on March 29, 2022 in Istanbul. President of Turkish Enterprise and Business World Confederation (TÜRKONFED) Orhan Turan has been elected as the Board Chairman of TÜSİAD at the general assembly meeting. Turak took over the position from Simone Kaslowski. Cevdet Alemdar, İzel Levi Coşkun, Fatih Kemal Ebiçlioğlu, Ozan Diren, Perihan İnci, Çağatay Özdoğru, Murat Özyeğin, Mehmet Tara, Serpil Veral, Elvan Ünlütürk and Bedii Can Yücaoğlu also assumed positions in the new board of directors elected during the general assembly meeting of TÜSİAD.

Chairman of the High Advisory Board Tuncay Özilhan

Chairman of the High Advisory Board Tuncay Özilhan delivering a speech at the opening of the meeting, spoke as follows in brief:

“We are experiencing the damages caused by the high inflation rate already in our economic and social lives since a while. Increases in the prices of energy, wheat and fertilizers will further harden a recovery from the inflationist trend. It will not be possible to sustain an increase in exports given the slowdown in Europe. Increasing oil and natural gas prices will bloat our import bills. All these factors will end up with an additional burden on the current account balance and will further put pressure on the value of the TL. In return, the loss of value in the TL will further trigger the inflationist pressure over import input prices.

Lifting of the inflationist pressure and safeguarding of price stability necessitate the implementation of monetary and fiscal policies in line with price stability before anything else. However, this does not work alone. It is now the time for industrial and agricultural plants which will generate foreign currency.”

Past TÜSİAD Board Chair Simone Kaslowski

Board Chair Simone Kaslowski delivering a speech at the opening of the meeting, spoke as follows:

“Turkey is currently melting down all reserves on hand”

I wish to comment on the economic outlook once more underlining the difference between growth and development. I wish to remind to all the concept of “impoverishing growth”. You may grow in sectors with low added value and concerning non-technological products or sectors which are not subject to trade but there will be no development. Growth will not always end up with welfare. Quite to the contrary, some steps you take for the sake of growth may impoverish the individuals of your society. You will only accelerate the deepening of impoverishment as you exhaust your irreplaceable resources. Turkey is currently melting down all reserves on hand. Re-accumulation of all these in a short period of time will not be easy at all. We are exhausting our hydro, forestry, woodland, olive groves and human resources besides our foreign currency reserves. Exodus from drought, desertification resulting from deforestation and a status of being deserted upon migration of our people with highest aptitude levels and abilities have to be considered among factors that we have to focus upon when considering the economy.”

“The private sector can only handle cases of emergency”

“A private sector with an anticipation of high inflation and unable to make any cost calculations due to uncertainties in exchange rates and a waste of reserves and which cannot make predictions can only handle cases of emergency. There is no doubt that our task will be more and more difficult. A development model depending on exports based on inexpensive labor and low standards cannot be implemented in an economy with the development level of Turkey.  Market and technological realities of the 21st century call for economies built on skilled and educated labor force and productivity rather than inexpensive labor.”

Board Chair Elect of TÜSİAD Orhan Turan

Turan delivering a speech at the general assembly meeting spoke as follows: “We will sustain our studies and works targeting a climate where competitive market economy, social welfare and sustainable environmental balance are adopted with the baseline of ‘freedom is sacred’ and taking participating democracy and a secular state of law as basis.

It is the responsibility of us all to build a Turkey which will enable the youth to realize their dreams in this country. We will never lose our hope to be ourselves once again discussing the road map of being a country where the human being, science and institutions are prioritized. We believe that clinging to such a hope is of utmost significance and meaning on the eve of the 100th anniversary of our republic founded by the leadership of Mustafa Kemal Atatürk.

The keys to Turkey’s future are still the values of the republic as has been the case in the past. We will always continue to defend values of the republic arousing from an understanding of contemporary, secular, democratic and social state of law which is the legacy of the unique vision of Mustafa Kemal Atatürk.”

 

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