Speaking at the opening of the Chemical and Technology Center in the Informatics Valley, Minister of Trade Ömer Bolat stated that exporters would greatly benefit from the center, which was established by the Istanbul Chemicals and Chemical Products Exporters' Association (İKMİB) and financially supported by the Ministry.
Bolat highlighted the importance of the chemical industry, stating, "Over the past 20 years, the sector has made an incredible leap in exports and has become one of the top three sectors we export the most. The chemical industry is successfully contributing to production, employment, exports, and foreign exchange earnings, making a significant contribution to our economy."
Bolat mentioned that the center would accelerate laboratory work, adding, "The center will ensure that USD 12.5 million in foreign exchange remains in our country and, equally importantly, will save time. It will speed up export activities, make deliveries faster, and improve manufacturing processes. The incubation center will also support technological development."
Emphasizing Türkiye's determination to increase trade and exports, Bolat said, "We are working tirelessly to increase our exports and earn foreign currency. We are running after increasing exports in every market around the world without discrimination. Our export associations, the Ministry of Trade teams, trade diplomacy, and the meetings and summits attended by President Erdoğan all contribute to our country's added value. We will continue to increase and expand these efforts."
Bolat recalled the saying "If you haven't reached a place, it's not yours," explaining that they are working with 140,000 exporters to reach 240 export markets worldwide.
He also mentioned that the Central Bank had lowered the policy interest rate by 2.5% points the previous day, marking the first interest rate cut in 22 months. Bolat stated that this development would increase optimistic expectations for the future, and as inflation decreases, the Central Bank would take the necessary actions in the coming months.
"We Are Always Behind and Beside Our Exporters"
Bolat explained that the government had made significant strides in supporting exports and providing exporters with access to finance in the past 19 months. He continued:
"Daily export re-discount credit limits, previously set at 300 million lira, have been increased to 4 billion lira. The recent 1 billion lira increase is being directed to labor-intensive sectors such as textiles, clothing, leather, footwear, and furniture. As a result, the capital of Eximbank has increased from 13.8 billion lira to 55.3 billion lira in the last 19 months, a nearly fourfold increase.
In addition, two important decisions were made yesterday. The cost of export re-discount credits obtained from the Central Bank has been reduced by 6% points to 29.93%. Another decision allows the allocation of foreign currency re-discount credits. Exporters will be able to access up to USD 150 million per month in foreign currency re-discount credits, with a maximum of USD 1.5 million per company. These credits will be prioritized for SMEs and offered with a 360-day maturity."
Bolat emphasized that Türkiye is in a global "trade war" where everyone is rushing to sell more goods and services to every market, and he mentioned that trade wars are accelerating rapidly.
The Minister stressed that the Ministry is always behind and beside exporters, and said, "We managed to overcome very turbulent times, such as the COVID-19 pandemic, the Russia-Ukraine War, the ongoing genocide in Israel, and the hot conflict in Syria, with minimal damage, thanks to the vision and leadership of our President. In 2024, we have entered into strong solidarity. Despite challenging times, we are ensuring that our economy performs well with growth, employment, and export increases, and that we successfully pass 2024 with key macroeconomic indicators. Real growth has been 3.2% in the first 9 months, with 1.9 percentage points coming from net goods and services exports. 93% of our exports are industrial products, and we thank our industrialists for that. We also thank those contributing with agricultural products, which brought in USD 31 billion, and our miners, who contributed USD 5.5 billion."
Bolat highlighted that the foreign trade deficit has decreased by USD 27 billion in the first 11 months of the year, thanks to the increase in exports and the reduction in imports. He added, "Our Central Bank is in a position of foreign exchange abundance, thank God. We need to increase this further to be more comfortable. Foreign exchange is always one of the most critical issues in Türkiye's economy, and the stable foreign exchange process will increase predictability in the monetary and financial markets, improving the competitiveness of our companies in global markets and providing them with important opportunities for pursuing export markets."
"Increasing Trade with Syria Is a Key Priority"
Bolat also noted that one of the priority areas is increasing trade with Syria. He said, "We are working hard to increase trade with Syria. Exports were already free for most products, and we were exporting nearly USD 2 billion to Syria. In the new period, as the new government in Syria works to rebuild the country, Turkish manufacturers, exporters, and investors will collaborate together. Our customs regimes are being prepared accordingly, and the Syria desk at the Ministry of Trade is working 24/7."
"The Center Will Make Significant Contributions to Increasing Türkiye's Exports"
The Chemical and Technology Center, established with an investment of 165 million lira by İKMİB, will host research and development (R&D) activities for high-value-added domestic products and conduct tests previously unavailable in Türkiye.
Located in the Informatics Valley with a 7,000-square-meter indoor area, the center includes a 1,650-square-meter incubation center and offers a wide range of services, from testing and analysis to entrepreneurship, R&D, and innovation projects. The center is designed to create a new ecosystem in the chemical industry.
At the opening ceremony, attended by Minister of Industry and Technology Mehmet Fatih Kacır and Minister of Trade Ömer Bolat, Mustafa Varank, the Chairman of the Turkish Grand National Assembly’s Industry, Trade, Energy, Natural Resources, Information, and Technology Commission, emphasized that the ministries are doing everything possible in line with President Erdoğan’s vision of investment, employment, production, and export-driven growth.
Varank also expressed efforts to make innovation a central aspect of the private sector. He stated, "The center will make significant contributions to increasing Türkiye’s exports both qualitatively and quantitatively."
IKMİB President: We Are Driving Global Trade and Economic Growth
IKMİB President Adil Pelister mentioned that the sector has made its mark in every country, with exports exceeding USD 30 billion, making it the second-largest export sector in Türkiye. He said, "Our goal for 2030 is to reach USD 2 per kilogram in export value and increase our total sector exports to USD 50 billion."
Pelister highlighted the strategic importance of the chemical sector for any country, as it supplies raw materials and products to 27 different sectors, thus playing a vital role in driving global trade and the economy.
Pelister explained that the Chemical Technology Center, a project they started developing in 2019, is the first step in creating a sustainable, national chemical industry. The center will host laboratories for instrumental, chemical, microbiological, molecular biology, physical, and mechanical analyses, and it will provide services such as certification consulting and R&D opportunities.
The center, with an investment of 165 million lira, will carry out 39 tests that have not been conducted in Türkiye before. In addition, 209 different tests will be carried out, with 100 of them being accredited. Pelister stated, "This will contribute to reducing our current account deficit, initially by approximately USD 12.5 million annually. We will provide services to increase exports through these tests and analyses, as well as international certification services."
Following the speeches, the ribbon-cutting ceremony for the center was held by Minister of Trade Ömer Bolat, Minister of Industry and Technology Mehmet Fatih Kacır, Mustafa Varank, Governor of Kocaeli İlhami Aktaş, AK Party Kocaeli MP Sadettin Hülagü, Mayor of Kocaeli Tahir Büyükakın, AK Party Provincial Chairman Şahin Talus, BBP Kocaeli Provincial Coordinator Metehan Küpçü, and IKMİB President Adil Pelister, among other officials.
The ministers and other guests then toured the center.
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