Business communities confident on reforms with the new Cabinet

Published 25.11.2015 23:28

The business world appears to be optimistic and content with the new Cabinet, which is decidedly economy-oriented with reforms prepared exhaustively to achieve higher growth rates and ensure macroeconomic stability in the long run. The Cabinet members of Turkey's 64th government, which include well-known politicians along with new figures, were announced on Tuesday. Following the announcement of the economy-related ministers, the business world expressed its satisfaction with the new Cabinet and vocalized its confidence in it bringing further dynamism to the economy and the business world.

Istanbul Chamber of Commerce (İTO) Chairman İbrahim Çağlar said he hopes that the new Cabinet, announced by Prime Minister Ahmet Davutoğlu, will "bring prosperity and dynamism to the country, contributing further to the 13-year experience of the administration." Çağlar also added that the İTO is sure that through the new structural reforms, the new Cabinet will succeed in increasing prosperity and achieve the 2023 targets on the 100th anniversary of the Republic. In addition, Union of Chambers and Commodity Exchanges (TOBB) President Rıfat Hisarcıkoğlu expressed his belief that the new government will focus on the economy and the reform process by taking advantage of the new environment of domestic peace and stability.

Furthermore, Foreign Economic Relations Boards (DEİK) Chairman Ömer Cihad Vardan said that they "are very content with what the new government will implement in second-phase economic reforms along with the other reforms on the process." Vardan also described Turkey as "the island of stability and reputation, surrounded by economic and political crises." In addition, Turkish Exporters Assembly (TİM) President Mehmet Büyükekşi said that despite the pessimistic outlook in the world economy, Turkey will continue to achieve good economic indicators alongside a stable government, adding that the TİM will continue to cooperate with the new Cabinet in "harmony" so that "economic growth, increasing the amount and variety of exports and further economic prosperity will be achieved by their collaborative work with the economy-related ministries."

Istanbul Chamber of Industry (İSO) President Erdal Bahçıvan, through his press release, said the İSO has full confidence in the new Cabinet in and its ability to develop every field, including industry, and the increase in employment that will come with it.

Also, Turkish Industrialists and Businessmen Association (TÜSİAD) President Cansen Başaran Symes, at Retail Days 2015, said "If we take the necessary steps for the implementation of the reforms, there is no doubt that Turkey will realize its full potential; such that, we can even achieve more than this potential," while saying that the new Cabinet will primarily focus on structural reforms. Symes also said that the business world is ready to work collaboratively to get successful results through the implementation of reforms. Symes added, "We have a long list of reforms involving the education, amelioration of the legal system, and the progression to be made on the way to full membership of the European Union," expressing that the new Cabinet's reforms "excite" the business world as they "will bring Turkey a brighter future." Symes also commented on the growth potential of Turkey, estimating it to be over 3 percent per annum.

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