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Turkey's Economy Minister Zafer Çağlayan has said the government’s aim is to make Turkey a country with international competitiveness and products not only for the domestic market but for the whole world, speaking during the fourth Istanbul Finance Summit. However, he admitted it would be difficult to reach the annual export volume target within the framework of the medium term program, set at $158 billion, due to foreign cyclical developments.
Çağlayan stated that the Turkish economy grew last year thanks to the contribution of exports, but this would change this year. “We would like to enable the Turkish economy to have a structure that has international competitiveness and produces not only for the domestic market but for the whole world,” he said.
He also stated that Turkey had over 56,000 exporters to all around the world as of 2012, adding that the country exported to a total of 246 different customs regions in 2012. “Turkey has set as its national target for 2023 to attain a commodity exports figure of $500 billion,” he noted.
Çağlayan said the aim of the medium term program, set as $158 billion, would only be reached with difficulty, citing foreign cyclical developments.
The economy ministry particularly stressed that Turkey must get rid of its profile as a country of imports. “As for the energy sector, Turkey made $60.1 billion in energy imports out of the overall figure of $176 billion for its imports in 2012,” Çağlayan said. “Unfortunately, $10 billion of the overall imports of Turkey is comprised of scrap imports.”
He also pointed to the failure of Turkey’s past incentive policies to direct the required changes as the reason behind the current figures of imports. Hurriyet Daily News
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