Özakalın stated, ‘Our support for the Medium-Term Program will continue’

Erzurum Chamber of Commerce and Industry’s (ETSO) May Assembly Meeting was held under the chairmanship of the Assembly President Gökhan Yılmaz. The meeting, held in the ETSO Assembly Hall, started with a minute of silence followed by the national anthem. Subsequently, ETSO’s April Balance Sheet and Budget Monitoring Report were discussed and approved. During the meeting, TOBB Provincial Women Entrepreneurs Council (KGK) President Kübra Alioğulları and TOBB Provincial Young Entrepreneurs Council President and Assembly Member İsmail Suci made presentations to the Assembly members regarding the activities and projects carried out by the Young and Women Entrepreneurs Councils. Following that, ETSO Labor and Industry Relations Specialist Mehtap Yarbaşı presented the ongoing preparations for the ‘3rd Erzurum Workshop’ and ETSO Aid Research and Development Foundation Secretary General and ABIGEM responsible Kürşat Karagöl provided a presentation on the Foundation’s and ABIGEM’s activities. In the meeting, ETSO Board Chairman and TOBB Board Member Saim Özakalın informed the Assembly members about the activities of the board in May. In his speech, Özakalın expressed that the business world is providing the necessary support to achieve the Medium-Term Program goals and emphasized that the tax burden on the real sector is very high. He mentioned that high interest rates of banks make it difficult for the real sector to invest, and highlighted the necessity to overcome the problem of high inflation, stating, ‘The main problem today is that due to high inflation, interest rates do not decrease. When interest rates do not decrease, investments stop, and high inflation disrupts income distribution.’ Özakalın also pointed out that the high exchange rate increases inflation, negatively affects companies engaged in exports, triggers the current account deficit and foreign trade deficit. Referring to the recently announced savings measures, President Özakalın said, ‘As a country, we are not saving enough. Our savings rate is 14%, while the average for EU countries is 25%, 40% in America, and 50% in Japan and South Korea. If we do not increase our savings rate, we cannot find resources for investment. When investment exceeds savings, it also leads to an increase in the current account deficit. Therefore, it is essential to strictly adhere to the savings measures announced by the government.’ Özakalın stated, ‘With the support of our business world and our noble and insightful nation, we will continue to support the success of the Medium-Term Program until the end.’ Additionally, in his speech, Özakalın mentioned the activities carried out by ETSO during the month. He reminded that they participated in TOBB’s 80th General Assembly, conveyed their requests regarding the expansion of the 2nd OSB 3rd Stage area to President Recep Tayyip Erdoğan who attended the General Assembly, and expressed their expectation for the problem to be resolved soon. Özakalın also provided information about visits to Chambers and Commodity Exchanges in the region coordinated by ETSO, the works carried out under ETSO’s presidency within the scope of 2025 EIT Tourism Capital, visits to investors in the 2nd OSB, the construction of the ETSO Aid Research and Development Foundation’s service building, evaluation meeting for the ‘Digital Transformation Project in Manufacturing Industry,’ consultation meeting with construction supervision firms, and information on the 3rd Erzurum Workshop and the activities of the Young and Women Entrepreneurs Councils. The ETSO Assembly’s May meeting concluded after the speeches made by the Assembly members during the wishes and recommendations section.