ITO President Avdagiç's statement on 'import from China'

The Chairman of the Economic Journalists Association (EGD) Hasan Arslan and the Board of Directors and Advisory Board Members visited the Chairman of the Istanbul Chamber of Commerce (ITO) Şekib Avdagiç. Avdagiç made statements about the economy during the visit.

Avdagiç, who stated that the economic administration has been implementing an economic policy for about two years, said, "If we put aside some of the criticisms we all brought up about the package from time to time, there is a very clear consensus on the macro issue. That is, inflation needs to be reduced quickly, effectively and permanently. We appreciate the efforts in this direction. We definitely expect inflation to be reduced at a reasonable pace, effectively, but in a balanced and permanent manner. Everyone agrees on this issue. We hope that, even with a slight delay, we can continue where we left off starting from the first Monetary Policy Committee meeting to be held next term, regarding the second half of this year."

Şekib Avdagiç, who pointed out the importance of not harming Türkiye's production and exports, said, "This is the aspect of this process that concerns us. Of course, reaching a more reasonable point in income distribution, down to the social balances and Gini coefficient, is among our expectations." Avdagiç made the following assessment: "As the Istanbul Chamber of Commerce administration, the angle we look at is this. Türkiye must definitely get rid of its 150-year-old bad foreign trade balance. We must know that it is not possible for us to continue with a deficit and we must design all our policies accordingly."

Avdagiç underlined that many aspects of the current policy are correct, reasonable and a necessary process, and stated that all companies in the export ecosystem should be supported more. Avdagiç said, "Export is not just an export company. Export is an ecosystem. There is an export company at the top. It has suppliers. These suppliers have suppliers. And there is a large pyramid, a chain that goes down from a large macro company to first OBIs, then SMEs, then micro companies. Therefore, this ecosystem concerns a wide range of producers."

"We should never make a decision without seeing exports and imports at the same time"

Şekib Avdagiç said the following regarding the impact of the exchange rate on exports:

"When you suppress exports in this way, you start to make imports incredibly easy. Imports are now becoming much more attractive. We actually saw this movie in 2004 and 2005. Back then, foreign exchange was suppressed, the dollar fell from 1.40 to 1.17. Interest rates were low, but back then we always talked about increasing exports. We should never make a decision without seeing exports and imports at the same time. Yes, exports increased then, but imports increased at a higher momentum. Therefore, Türkiye definitely needs to put into effect a process that will encourage exports more effectively."

"It would be right to use this system more effectively with common sense"

Şekib Avdagiç said that the EU market is currently congested, and that China is implementing a process with a harsher policy towards many countries and Türkiye due to the chaotic situation it is experiencing in the US market. Avdagiç said, "China is lowering prices and giving installments. Sometimes the Chinese come and sell machines in TL with 60-month installments. Which manufacturer can withstand this? In this case, which buyer would get a loan from the bank and buy a machine."

Avdagiç, in response to a question, stated that informality is a reality in Türkiye and that it is normal to carry out a process against informality, but that this should be carried out without disturbing the taxpayer who is registered.

Şekib Avdagiç noted the following: "Now, a man in the Grand Bazaar says, 'President, I have a 15 square meter shop. Two friends come, sit in the shop, and determine the revenue. The customer is already inside, when they see them, they pass through the shop. Or the third person has no place to sit'. In other words, there needs to be consistency within itself. Yes, let's do some self-criticism. In other words, aren't there any leaks in some sectors, some institutions, and some processes? There are. The duty of both the State and the Ministry of Finance is to prevent this. Here, perhaps we are a party to implementing result-oriented processes that will bring rational results by consulting us a little more closely. I emphasize that a process must be carried out continuously and effectively. In other words, we must never abandon the basic framework here. Of course, there is a very experienced and knowledgeable structure in the Ministry of Finance. But it would be better to use this system more effectively with common sense.

"We decided to set out together with our friends again in the Istanbul Chamber of Commerce elections"

İTO President Avdagiç responded to a question about whether he would be a candidate for the İTO elections expected to be held in October next year by saying, "We held the necessary consultations with our own community, both those we have served in so far and those who have motivated and supported us during this period, and with friends we have crossed paths with. And a consensus emerged on running for another term." Şekib Avdagiç said that according to İTO traditions, running for the Chairmanship of the Board of Directors again is not a personal decision, but a process carried out by the business world coming together as a community. Avdagiç made the following statement: "Therefore, we held our consultations with prominent and valued people in our community. In addition, there are friends we are currently serving with, we also held our meetings with them. And God willing, we decided to set out together with our friends again in the Istanbul Chamber of Commerce elections expected to be held in October-November 2026."

UAV

Editor: News Center