Foreign Trade News from Turkey

August/23/2016 Turkey consumer confidence rose by 11.1 percent in August from the previous month, data from the Turkish Statistics Institute (TÜİK) showed on Aug. 23.

Turkey consumer confidence rose by 11.1 percent in August from the previous month, data from the Turkish Statistics Institute (TÜİK) showed on Aug. 23.

The index was 74.44 in August, up from 67.03 in July, according to official data.  The index hit a six-year low of 58.52 last September, but has since recovered somewhat, even after the failed coup attempt.  Households turned optimistic about the general economic situation for the next 12 months, with the general economic situation expectation index increasing from 89.82 in July to 101.95 in August, according to the results of the TÜİK survey, made in cooperation with the Central Bank.  The household financial situation expectation index also increased by 6.6 percent compared to the previous month, becoming 94.19 in August. More consumers also expect a decline in unemployment rates and they seemed to be less pessimistic about their saving prospects.  

The latest figures were the highest since November 2015, following the parliamentary election, when the consumer confidence index rose to its highest level since April 2014, when it jumped 22.9 points from October 2015 to 77.15.

 

Source:http://www.hurriyetdailynews.com/ 

Deputy PM Şimşek says attempted coup s impact on Turkish economy will be ‘short-lived’ 2016/07/18
The Turkish economy will not suffer permanently from the failed coup attempt on July 15, despite a short-lived, downward impact on growth, Deputy Prime Minister Mehmet Şimşek said on July 18. He also said Turkey’s macroeconomic fundamentals were solid and the government would swiftly shift its focus back to carrying out structural reforms, in a televised interview on Bloomberg HT.  “The coup attempt will not make any permanent impact on the Turkish economy,” Şimşek said, noting that political stability and democracy had been strengthened in the country following the failed coup attempt and it was easier to make reforms in this environment.  “We had a bad dream and it was left behind... Our message is very clear, there is no need to panic,” he said.  “Our growth rate, foreign balances or other macro fields were not damaged,” added Şimşek. He noted he held teleconferences with more than 500 investors on late July 17 and answered their questions along with the Central Bank governor.  “The volatility will last for a very short term and we will back to the reform agenda very soon,” he added.  The Central Bank announced a raft of measures to minimize the adverse effects of the failed military coup attempt in Turkey, including unlimited liquidity.  “The Central Bank will provide banks with necessary liquidity, without limits,” said the bank in a written statement on July 17, following top level meetings. It also noted that the commission rate for the intraday liquidity facility would be zero.  “Banks will be allowed to place foreign exchange deposits as collateral without limits for necessary Turkish Lira liquidity,” said the bank, adding that its current foreign exchange deposit limits of around $50 billion may be increased and utilization conditions (collateral and cost) may be improved if deemed necessary.  Source: Hürriyet Daily News 
Turkish Central Bank reveals measures to ensure financial stability after coup attempt. 2016/07/18
The Central Bank has announced a raft of measures to minimize the adverse effects of the failed military coup attempt in Turkey, including unlimited liquidity.  “The Central Bank will provide banks with necessary liquidity, without limits,” said the Bank in a written statement on July 17, following top level meetings. It also noted that the commission rate for the intraday liquidity facility will be zero.  “Banks will be allowed to place foreign exchange deposits as collateral without limits for necessary Turkish Lira liquidity,” said the Bank, adding that its current foreign exchange deposit limits of around $50 billion may be increased and utilization conditions (collateral and cost) may be improved if deemed necessary.  The announcement came after Deputy Prime Minister Mehmet Şimşek tweeted that Turkey’s macro fundamentals are solid and the government is taking all necessary precautions.  “I have spoken with the Treasury undersecretary and the Central Bank governor. We have decided to take all necessary precautions. We are in charge and there is no need to worry,” Şimşek said, adding that he would be holding a teleconference with international investors today.  The Central Bank also stated that market depth and prices would be closely monitored. “All necessary measures will be taken to ensure financial stability,” it added.  Source: Hürriyet Daily News 
May/31/2016 “COMIS” is the Logistics Project of the Year!..Economy and Logistics Summit took place in Istanbul the motto: “Strong logistic for competitive economy.”

 

05.31.2016 Turkish Cargo —2016 Economy and Logistics Summit took place in Istanbul  the motto: “Strong logistic for competitive economy.” The aim of the summit was to bring public institutions, real sector and logistics sector together and discuss the current situation and future perspectives of Turkish economy and logistics sector in the framework of Turkey’s 2023objectives and allow the sector to shape according to the sector’s 2023 target.At the summit, whose main sponsorship we took up as Turkish Cargo, Vice President (Operation) Mr. Serdar Demir was a speaker at the panel titled “Turkey’s Position, Expectation, and Goals in Air Cargo Sector.”Turkish Cargo was chosen the “Logistics Project of the Year” with its COMIS project in “Annual Success in Logistics Awards,”

whose winners are chosen with the votes of twelve thousand attendees consisting of logistics company representatives and supply chain managers from different sectors. Turkish Cargo Vice President (Marketing and Sales) Mr. Halit Anlatan received the price in the name of Turkish Cargo.

Source:http://www.turkisheconomy.com