Chairman Burkay, 'We Should Protect Our Exporters Against Price Instability in Foreign Exchange'

We must protect our President Burkay exporter against price instability in the currency.
We must protect our President Burkay exporter against price instability in the currency.

Bursa Chamber of Commerce and Industry (BTSO) Chairman İbrahim Burkay stated that the instability in exchange rates left the exporter in a difficult position and said, “Despite the increasing protectionism policies on a global scale and the falling demand in the epidemic, we managed to exceed our export targets. However, high volatility in foreign currency poses a risk to our export performance. Therefore, we must protect our exporters against price instability. " said.



Economic Journalists Association, organized by video conference 'Economy of Turkey Speaks' Ibrahim Burkay was a guest of the meeting, the impact of the loss on a global scale outbreak of coronavirus considered a year by 2020, he said. Stating that the epidemic affects all social and economic areas from production to trade, from exports to employment, President Burkay stated that while the real sector struggles to protect its gains, on the other hand, it acts with the effort to adapt rapidly to changing conditions in a process defined as 'new normal'.

"HIGH INTEREST PREVENTS INVESTMENTS"

İbrahim Burkay, who stated that businesses whose activities were restricted in the service sector, especially in food and beverage and tourism, had a very difficult period, and on the other hand, the industrial sector was able to continue its production thanks to the measures taken even in the worst days of the epidemic, "However, generally increasing inflation and price instability the high interest rates, aggressive fluctuations in the exchange rate and the serious contraction in our export markets, which decreased revenues and increased costs in our real sector. Interest rates approaching the 20 percent limit and double-digit inflation are the most important obstacles to the investment and production climate. " he spoke.

"SUPPORT MECHANISMS SHOULD BE ACTIVATED"

Although it is the global economy at around 4 percent contraction expected, indicating that the strong prediction that it will turn Turkey's 2020 with positive growth BCCI Chairman Burkay, said: "supports proactive as our economy management real sector our offer and our exporters in 2020 with outstanding performance positive degraded countries in the world We have completed by taking place between. However, the rapid decline in exchange rates combined with rising interest rates and high inflation poses a risk to our export targets. In order to maintain price stability, support mechanisms that will protect our exporters should be mobilized in decreases as well as increases in exchange rates. Providing our producers with the appropriate credit opportunity for raw material purchases and suspending additional customs duties on raw materials are the factors that will support our foreign trade, together with the predictable structure of exchange rates. Energy discounts and freight support for our producers and exporters are among the most important expectations of our real sector.

"Let's Get Rid of the PRANGALS ON OUR FOOT"

Stating that rising interest rates, high inflation and unstable exchange rates are the shackles of the real sector, Chairman Burkay said, "As a country, we should get rid of these shackles as soon as possible and evaluate 2021 as a new period in which we will focus on opportunities, not risks." said. Stating that the negative effects of the heavy damage caused by the coronavirus in social life and economic activities will continue to be felt for a while, İbrahim Burkay said, “We must create a new route in order to return to our old strong growth pace. For this reason, we find the mobilization initiated under the leadership of our President in the fields of democracy, economy and law very critical and valuable for us to get stronger from the conditions we are in. With the rapid implementation of a reform program that will give confidence to our investors, I hope the business and investment environment will become much more attractive. " he spoke.

"INTENSIVE WORKING Pace in BTSO"

Stating that Bursa Chamber of Commerce and Industry completed the year 2020 with an intense working tempo to protect its members and employees from the negative effects of the virus, BTSO Chairman of the Board İbrahim Burkay said, “We further strengthened our communication network with our sectors during the pandemic process. We determined our emergency action plan and created our 'Crisis Table' under the leadership of our esteemed Governor. We have developed solutions that are quickly implemented for the demands of our sectors. Members of our demands, suggestions and expectations of Chamber and Commodity Exchanges of Turkey we are in constant communication with our Union, we share our ministers and our Mr. President. As a result of the entrepreneurs we have made, our government has prepared support packages for our companies on many issues such as short-time work allowance, tax cuts, financing and employment support and rent subsidies. On this occasion, I would like to thank Mr. President, our government and TOBB President Mr. Rifat Hisarcıklıoğlu on behalf of our city and business world. " said.

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