Şimşek: Türkiye's low debt level increases its resilience against economic shocks

The 19th Verona Eurasian Economic Forum, organized in Istanbul with the support of the Independent Industrialists' and Businessmen's Association (MÜSİAD) and Ibn Haldun University, with the participation of representatives from more than 30 countries, where the future of economy, geopolitics and international cooperation will be discussed, has started.

Speaking at the opening of the forum, Minister of Treasury and Finance Mehmet Şimşek pointed out the importance of strengthening Türkiye's position in global trade and logistics networks.

Stating that Turkish Airlines (THY) is the company that flies to the most destinations among the airlines in the world, Şimşek said that being a reliable partner means increasing connectivity.

Şimşek noted that global supply shocks offer Türkiye the opportunity to invest in connectivity, and explained that some of the fastest connections between Beijing and London are provided through Türkiye, and that it takes 18 days to transport freight from China to England by rail.

Emphasizing that Türkiye is an important regional center in the field of energy, Şimşek said that they aim to evaluate these advantages.

Minister Şimşek stated that Türkiye's approach to regional conflicts is to support peace and stability and said, "How can we strengthen our position as a reliable partner? Talking to everyone, promoting peace and stability. Because this benefits us in terms of prosperity."

Noting that protectionism and fragmentation of trade in global trade are among the other important challenges faced, Şimşek said that protectionism has become the new normal for the world economy since the global financial crisis.

Stating that Türkiye's response to these developments is "to develop relations with more partners within the framework of rules-based trade," Şimşek said, "For this reason, we are currently negotiating free trade agreements with Japan, Indonesia, Gulf countries and Canada. We currently have 54 free trade agreements, including the Customs Union, and a number of preferential trade agreements with some of our neighbors."

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)