Page 106 - LIFT VISION 39 IÇ SAYFA

2024 REVIEWS

We export 1.5 billion dollars a day the world conjuncture and the world cent. On the other hand, we have very the increase in policy interest rates af-
Speaking at the 2024 Export Vision economy.” special studies on e-export. Hopeful- ter the June period, exporters’ access
and New Opportunities Panel, Ö. Vol- ly, we will launch a national e-export to financing has increased with the
kan Ağar, Deputy Minister of the 6 billion dollars of export loss in platform within the next year. We opening of credit taps by banks. This
Ministry of Trade of the Republic earthquake-hit provinces want to increase the share of e-exports time, however, the following compla-
of Turkey, stated that there has been Stating that our export figure, which from 1.5 percent in total exports to 10 int started to emerge: high interest ra-
was 254.2 billion dollars last year, is percent in 2028. We want to increase tes. At this point, our Ministry, the Mi-
targeted to be 255 billion dollars at the share of medium-sized product nistry of Treasury and Finance and the
the end of this year, Ağar said, “Des- exports to 50 percent. Turkey makes Central Bank put their heads together
pite all these negativities in the world, two-thirds of its exports to its very and worked on how we could elimi-
Turkey has not experienced a regres- close geography. We currently have nate the exporters’ complaints about
sion in exports. In addition, we have special studies for 18 distant count- high interest rates. And the Central
experienced a very big disaster that ries with the distant countries strategy Bank of the Republic of Turkey can
covers 11 provinces of Turkey, whi- we have determined and for 57 count- access financing at a level of 31 per-
ch happens once in a thousand years ries that are both distant countries and cent. Eximbank is the biggest suppor-
in the world. It affected more than 10 members of the Organization of Coo- ter of our exporters here. Nearly half
million of our people and 11 provin- peration of Islamic Countries. of the export credits in Turkey are
ces very seriously. These provinces provided to our exporters by Exim-
were Turkey’s textile, chemical and We are very hopeful for 2024 bank. Eximbank will reach 41 billion
agro-food industries, and they were At the same time, in order to inform dollars in credit volume. Currently it
the provinces that made very large our exporters about e-export, we are is 29.7 billion dollars. Last year it was
exports. We have determined that the now making the easy export platform, 45 billion dollars. In recent months,
export loss between February and which we have previously launched, Eximbank’s equity capital was incre-
a great breakthrough in exports after September in these provinces is 6 bil- also for e-export. ased by TL 6.8 billion. This provided
2002 and said, “Turkey has become lion dollars.” extra credit creation costs. Therefore,
a very large economy that exports 1 At this point, we will also launch a Eximbank is carrying out very impor-
billion dollars a year in 1973, 1 billi- 2028 export target of 375.4 billion platform that is offered to the service tant work. The second issue is that the-
on dollars a month in 1987, and nowa- dollars of our exporters with artificial intel- re is credit, but exporters do not have
days exports 1.5 billion dollars a day. Reminding that Turkey is also an ligence algorithms that provide very the collateral to receive credit. Two
Therefore, exports will continue to important exporter of services, Ağar important information. Our expecta- years ago, we started to think about
constitute one of the most important continued his speech by stating that tions for 2024 are extremely hopeful. how a guarantee institution could be
items of Turkey for the year 2024, as in 2022, with 89 billion dollars of We know which countries we will go established at this point, and İGE AŞ,
it was the case before and after that.” service exports, our country received to and with which products. Despite which recently celebrated its second
345 billion dollars of foreign currency this unfavorable conjuncture in the anniversary, has largely eliminated
Year-end target is 255 billion dol- and an export surplus of 49.6 billion world, 2024 will be better than 2023.” this deficiency. Now exporters have a
lars dollars: guarantee institution that serves only
Ağar noted that the world is going Increased access to finance exports. It provides this power toget-
through a challenging period and that “Last month, the medium-term prog- Volkan Ağar pointed out that expor- her with the exporters’ associations
the shrinking demand and recession ram targets were announced. At this ters’ access to financing has increased and the Turkish Exporters’ Assembly,
expectations in Europe have crea- point, Turkey set an export target of and said: “The biggest desire of expor- and its equity capital is very strong.
ted a gray area on exports, and said, 255 billion dollars in 2023, 267 bil- ters is financing. However, the rate It is an organization with a 150 bil-
“In general, downward growth rate lion dollars in 2024 and 302.2 billion of increase in inflation is decreasing. lion TL guarantee potential. İGE AŞ
revisions in the world trade volume dollars in 2026. In 2028, we have a Hopefully, we will witness serious has come a long way in two years. In
create a gray area. However, Turkey target of 375.4 billion dollars in go- decreases in inflation in the coming 2023, it provided more than 40 billi-
is a country that has always emerged ods exports. We will hopefully have years. While these policies were being on TL in guarantees. It has provided
from such gray areas by gaining stren- a target of 200 billion dollars for our pursued, the policy interest rate was guarantees to more than 10 thousand
gth and creating opportunities. In this service exports in 2028. Our country’s constantly updated and raised by the companies with a very serious IT inf-
sense, we will continue this growth share of world trade is 1.03 percent. Central Bank of the Republic of Tur- rastructure. Therefore, both the credit
in 2024 with value-added, innovation We aim to increase this share to 1.3 key. In the period before June, banks and guarantee pillars are now functio-
and R&D-based product and market percent in 2028 and to increase the were reluctant to lend due to the low ning in synergy. In addition, the credit
diversification by closely following share of SMEs in exports to 32 per- policy interest rate. However, with limits of SMEs have been increased.”

106 LIFTVISION
4th QUARTER 2023