Affirmed his country’s support for the vision of Qatar 2030 .. Turkish Minister of Economy:
Qatar and Turkey to constitute two logistic platforms in the region
HE Mr. Nihad Zibekji, Minister of Economy of the Republic of Turkey, affirmed his country’s support for Qatar National Vision 2030. He said in an exclusive interview with Business Bridge magazine that the economic relations between Turkey and Qatar have seen remarkable growth in recent period, as Turkey’s exports to Qatar rose by 50% in 2017, while imports rose by 60%. Pointing out that the common goal of the two countries is that Qatar and Turkey are considered as two important logistic bases in the region, stressing that the two countries are discussing ways to launch joint investments and long-term trade based on solid foundations. On the level of Turkish economy growth, Zibekji added that the Turkish economy witnessed the growth of domestic and foreign demand in 2017 to reach 6%, pointing out that exports revenue in Turkey reached 160 billion dollars in 2017.
Turkey was one of the fastest growing countries in 2017. What steps will be taken to continue stabilizing this growth rate?
In the first half of 2017, Turkish economy followed course of both domestic and foreign demand, reaching a growth of 5.1%. In 2017, Turkey indeed saw a dramatic increase in export. The increase in number of tourists, which was over 40%, in the third quarter of the year will also greatly contribute to this growth. In2017, we grew with the increase in export and investments. We expect a 6% growth in 2017. In addition, we also take structural measures to ensure stable growth. Project-Based Incentive System aims to increase the manufacture of 21st-century technologies in Turkey.
Do you see that those step taken bears any importance for structural transformation in manufacture?
As I mentioned earlier, those steps bears great importance for structural transformation in manufacture. We
also focus on investment incentives and export support policies to increase the added value of design, Research
and Development and brand. These structural changes are the fundamental basis of sustainable growth in the years
to come. Our export rate which was stuck between 140 and 150 billion USD for long years started to increase in
2017, and is expected to reach nearly 160 billion USD by the end of the year.So, we can say that we’re expecting a
historical record. Likewise, the tourism industry which faced many challenges in 2016 began to recover in 2017.
What will be done to ensure export growth? Are there new policies to encourage export?
Our export graphic showcases a successful performance despite the negative landscape in global trade, and
geopolitical and political risks. This largely owes to the fact that our government announced 2017 as “Year
of Export Mobilization” and that our companies fully committed to this call. First, we made comprehensive
meetings with all industries, listened to their problems, and offered immediate solutions. Secondly, we tripled our
support for export as a sign of our dedication for an export-based growth. We revised our Investment Incentive
System, and, additionally, initiated Project-Based Support System.
How do you estimate Turkey EXIM bank in supporting the country’s global export rate?
Another important thing is that we provided a new perspective for Exim bank. Our goal is to make Turkish Exim
bank the one that provides the highest support for global export rate. With these measures, our export rate began to increase in November 2016, and continued this fast rise in 2017. We’re very happy to see a 10.36% increase in export in the first 10 months, and that this export rate greatly contributes to economic growth.
Looking at the numbers from the last 12 months, our export rate has reached approximately 155 billion USD.
We expect this increase to continue in the rest of the year, and to surpass the 156.5 billion USD export goal as stated in Mid-Term Program, reaching nearly 157.6 billion USD. Ensuring that our industry manufactures and exports high-tech products to avoid middle income is the most important priority of our ministerial policy. In the near future, we will make an effort to increase our R&D and innovation exports with high added-value. In this manner, we’ll strengthen the support mechanisms for increasing export unit price.
Is there anything you’d like to add?
To borrow from Mustafa Kemal Atatürk, “rising to the level of contemporary civilization” is the ideal that lies in our hearts. With this goal in mind, we’ll first see which direction the world takes, and then will take structural measures in this regard. As Ministry of Economy, we continue developing projects to serve this vision, and strategies to uplift Turkey through export and investment. I’m happy to see that many Qatari companies invest in Turkey. In order to further benefit from the regional potential, we’ve also had major developments in the field of e-commerce. We’ll improve our relationship in all aspects. We can never forget that both Qatari government and people have always stood beside Turkey.