Turkey turns focus on Asia Pacific region as new center for global production & trade
Turkey which has recovered from a tough period in economy has updated its strategies with new goals to match the rapid developments in a global scale. Within this scope the administration has upgraded its focus on Asia-Pacific region and is determined not to miss the economic opportunities available in said region.
Indeed, Turkey’s Trade Minister Ms. Ruhsar PEKCAN who delivered a message at the Asia-Pacific Economic Summit held with the cooperation of Turkey’s Union of Chambers and Commodity Exchanges (TOBB) and the Asia-Pacific Trade and Industry Confederation (CACCI) shared very important expressions to provide clear ideas regarding the country’s plans for the future.
The Minister pointed out that it was important that young entrepreneurs, women entrepreneurs and SMEs had participated in the conference and said that the world economy could not be interpreted correctly without understanding the developments in the Asia Pacific region.
Minister PEKCAN drew attention to the gradually increasing weight of Asia in the global economy and shared following: “While the share of Asia Pacific countries in the global economy was 23.1 percent in 2001, it increased to 29.7 percent in 2017. In the same period, the share of global exports increased from 25.8 percent to 33.7 percent. It clearly shows that the Asia Pacific region has become a new center of gravity for global production and trade. Time will show us if this acceleration will continue this way. But one thing is certain: a competitive, industrialized, urbanized Asia will become a consumption economy in the near future. For this reason, the Asia Pacific Region has a strategic importance for the Turkish economy and Turkish exporter in the next decades. As Turkey, we are carrying out policies based on this global mega-trend. “
The Minister also added that as Ministry of Trade they had identified China and India as specific target countries and developed new strategies for these countries as well as action plans on sector and state basis.
PEKCAN also noted they expected support from officials of Chinese and Indian Chambers of Commerce and representatives of CACCI in this context adding they would implement strategies prepared, in the short term.
