EGİADAgenda was Economy and Foreign Trade

Economy and foreign trade became the agenda of the egiadin
Economy and foreign trade became the agenda of the egiadin

📩 16/02/2021 10:20

Closely following the agenda EGİAD Aegean Young Business People Association put the economy on the table for its member business people with the "Economy Agenda & Foreign Trade" Webinar organized with Alternatif Bank officials. Activities in the field of economics, "after Vaccination Growth Prospects - Asymmetric Risks, Financial Stability Growth Dilemma of Turkey, and Turkey in 2021 Global Economic Prospects" headings dealing EGİAD; Within the scope of foreign trade, "Turkey Developments in Foreign Trade, Export Financing Funding sources can be used, Risks Faced Foreign Trade and Their Minimize Methods, Current Situation of Foreign Trade Legislation" titles took over.

Alternative Bank Chief Economist Serdar Şenol, bank officials Yusuf Hacıibrahimoğlu and Kerim Kılıç attended the event. EGİAD making the opening speech at the event, which attracted great attention of its members EGİAD Reminding that 2020 has passed with the Covid-19 nightmare, Chairman of the Board of Directors, Mustafa Aslan, drew attention to a period in which millions of people suffered from illness and suffered losses, the number of cases continued to increase rapidly and the humanity of the whole world was shaken. Emphasizing that in the face of the pandemic disaster, the health of the people and the world economy have suffered seriously, Aslan said, “From a general point of view, the success of vaccines developed against COVID-19 will be the determinant of economic developments in the world in 2021. Despite the expectation that global economic growth will recover in 2021, in order for this recovery to be reflected in developing and less developed countries, the economic and social support of developed countries should continue and all countries should be flexible in revising their economic policies according to the conditions of the pandemic. Referring to the changes made after all the negativities in 2020, Aslan said, “Following the change of the Minister of Treasury and Finance in the last quarter, the market, which perceives the Central Bank's increase in the policy rate positively, has caught a rising atmosphere in a sense. If the improvements made are supported by structural reforms, permanent improvements will be achieved. For a long time, we have been at the top of our economic agenda to fight inflation. The figures announced show that the annual inflation has reached 15%. Almost 5 points of this is due to food and 3-3.5 points to transportation. We see that only these two items make up half of inflation. Therefore, exchange rate pass-through, inertia, and the inability to manage expectations are of course very critical and a significant part of them are in the field of monetary policy. But no matter what monetary policy does, there are issues such as food inflation that we cannot solve. We cannot consider the fight against inflation only within the scope of the CBRT, a solution is needed in a broad perspective. For nearly three months, we see that the Central Bank has taken all the necessary steps, including verbal guidance, with utmost determination and care. Is this necessary but sufficient? " he spoke.

Alternative Bank Chief Economist Serdar Şenol, on the other hand, evaluated the developments in the economy after the pandemic process and the opportunities and risks that may arise financially. Şenol said, “There are reform studies. Important steps are taken in this regard. I think the continuation of this performance will help us get the results we want in the coming months, ”he said. Şenol said, “While the year 2020, when the corona virus process is certain, is behind us, a performance similar to 2021 is expected, especially in the first half of 2020. While the growth trend brings along an unbalanced distribution, we will see that the problems in income distribution continue to deepen. Therefore, the support given to the economy may need to continue for a while. Towards the end of 2021, we will be able to approach a period when the exit from monetary and financial expansion processes will start to come to mind to some extent. Although the growth prospects are optimistic on the developed economies side, the lagged effects of the crisis and the pressures of high financial and monetary support will continue. In our opinion, inflation concerns in this sense will remain in the background until there is a significant improvement in the current unemployment outlook ”.

Bank officials also touched upon Joseph HACIİBRAHİMOĞLU share in Turkey's export markets and development. Turkey's exports $ 2021 billion as expressing HACIİBRAHİMOĞLU trend for the year 184, stressed that world trade is $ 18.9 trillion. Turkey's HACIİBRAHİMOĞLU stressed that this rate of 0.91% of the shares, "We are more than half of our exports to Europe. The countries where our exports have grown the most in value are America, Russia and Azerbaijan. 74% of our exports come from five provinces; These provinces are Istanbul, Izmir, Bursa, Gaziantep and Ankara. Our total exports in 2020 reach $ 161 billion, ”he said.

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