New Economy Program to Strengthen Chemical Exporters

Treasury and Finance Minister Berat Albayrak announced the 'New Economic Programme 2020-2022'. In response, Adil Pelister, Chairman of the Board of the Istanbul Chemical Substances and Products Exporters Association (İKMİB), issued a written assessment. In his statement, Pelister noted that they view the New Economic Programme, which targets a strong Turkey in the economy and will enable the country to move up in the global economy, as an important roadmap that will also chart the course for exporters. He emphasized that the chemical sector holds strategic importance within the structural change and transformation initiative achieved in foreign trade. İKMİB Board Chairman Adil Pelister evaluated the new economic programme as follows: "In this transformation, the production of raw materials in Turkey in sectors with high volumes of imported intermediate goods, such as petrochemicals, is of great importance for chemical exporters. In this context, we anticipate that the chemical sector, which is among the priority sectors in the 11th Development Plan, will continue its upward trajectory in exports. Together with the strategy of transitioning to high value-added products, there is a major transformation vision ahead for our manufacturers and, consequently, our exporters. The primary expectation of chemical exporters is the reduction of financing costs, lower credit interest rates, and sector-specific incentives coming into play. We see that the financial reforms under the new NEP will also strengthen chemical exporters. In the coming period, as chemical exporters, we will fulfill our responsibility in the rise of our country's economy with new high value-added products without fail. By focusing on growth and production, we will continue with all our strength to be among the leading sectors of this transformation."