President Recep Tayyip Erdoğan attended the 31st Ordinary General Assembly of the Turkish Exporters Assembly (TİM). During his address, he highlighted the significant achievements of Turkey’s export sector.
Key Highlights from President Erdoğan’s Speech:
- Pride in Achievements: Erdoğan expressed pride in the accomplishments of Turkey’s exporters, thanking the 150,000 exporters for spreading the “Made in Turkey” brand worldwide. He emphasized the government’s support in facilitating their efforts and addressing their concerns.
- Record-Breaking Exports: He shared impressive export figures for 2023, with a total of $355 billion, including $255.4 billion in goods and $101.7 billion in services. The month of May saw a record export value of $24.1 billion, contributing to an annualized export record of $260.1 billion.
- Reduction in Trade Deficit: The foreign trade deficit saw a 47.8% reduction in May 2024, alongside a $4.6 billion increase in goods exports within the first five months of the year. The overall trade deficit decreased by $19.2 billion.
- Future Goals: Erdoğan set ambitious targets for the end of 2024, aiming for $267 billion in goods exports and $110 billion in service exports. He reiterated the government’s commitment to support exporters through various financial measures.
- Support for Exporters: The Ministry of Treasury and the Central Bank are developing new strategies to meet exporters’ financing needs, with Türk Eximbank’s equity structure providing significant backing.
- Positive Economic Indicators: Despite regional conflicts and the aftermath of the February 6 earthquakes, Turkey’s economy showed resilience. Erdoğan noted a 4.5% growth rate and national income exceeding $1 trillion, ranking Turkey 17th globally in economic size.
- Future Prospects: Erdoğan projected a strong revival in international direct investments and a significant improvement in Turkey’s economic outlook. The country’s gross reserves increased to $143.6 billion, and the CDS premium fell to 266 basis points, indicating growing investor confidence.
President Erdoğan concluded by urging everyone to focus on achieving export targets and reaffirmed the government’s commitment to supporting the business world and the real sector.
