Skip navigation links
Press Releases
News from Turkey
Publications
Upcoming Tenders
Links
Videos
Newsletter Subscription
This page is print preview page.
Click here to return to the page.
Print page
News
 
Istanbul Hosts Capital Markets Congress 
14.11.2016

Istanbul, which is positioning itself to be a global financial hub, played host to the Capital Markets Congress on November 4-5.

 

Speaking at the opening session, President Recep Tayyip Erdoğan expressed his hope that the congress will ensure good results for the Turkish economy and will draw a wider attendance in upcoming years. He would like to see the congress become a truly international platform in which global issues are discussed. Erdoğan pointed out that the congress will spare no effort towards positioning Istanbul as a financial hub on par with international finance centers such as New York, London, and Hong Kong.

 

During the congress, Erdoğan drew attention to Turkey’s remarkable performance during the global economic crisis, especially when compared to several EU countries still suffering from outstanding debts. “Despite the serious challenges we faced in the last three years, our growth rate was above the world average. We attained a 4 percent growth rate even in 2015 in spite of two elections. Additionally, we have overseen an average annual growth rate of 4.7 percent from the year we took office until now. We decreased the public debt to gross domestic product ratio to 32 percent from 75 percent. Similarly, the interest expenses to GDP rate was reduced below 3 percent from 15 percent. Also we cut the share of interest expenses in the budget to 11 percent from 43 percent,” Erdoğan said.

 

Erdoğan advised companies to use financial instruments such as bonds, Sukuk (Islamic bonds), and infrastructure real estate investment partnerships for the sake of Turkey's advancement. He also stressed that making money from investments rather than interest would promote sustainable economic development.

 

Erdoğan also talked about Turkey’s Sovereign Wealth Fund, which will have access to some TRY 110 billion in pension and investment funds, as well as TRY 100 billion in the unemployment insurance fund. He emphasized that these assets could be used for the financing of big investments that require low-cost long-term loans.

 

Finally, Erdogan called for measures to be taken to lower interest rates in Turkey, which are currently hovering around 15-16 percent. He said the high interest rates are making it difficult for investors to come into the market, therefore their concerns need to be allayed.

 

The two-day congress, which brought together financial institutions, market professionals, and regulators,  aimed to contribute to the development of the capital markets and intermediation activities, as well as to enhance professional know-how in the sector.

17.01.2018 Stronger Qatar-Turkey ties, stronger region
12.01.2018 German media gets first-hand insight into Turkey’s business climate
05.01.2018 President Erdoğan sets target of EUR 20 billion in Turkey-France trade volume
11.12.2017 Turkey - fastest growing G20 country
06.12.2017 Turkey expands investment ties with South Korea
01.12.2017 Istanbul Consular Corps and Ispat boost collaboration
28.11.2017 Sustainability high on Waipa agenda
25.11.2017 Swiss companies’ interest in Turkey growing
22.11.2017 Boeing sets up tech center in Istanbul as part of Turkey National Aerospace Initiative
15.11.2017 Kuwait and Turkey forge MoU to boost bilateral investments
<<
1 2 3 4 5 6 7 8 9 10
>>