Turkey will grow not through imports but through investment, production, and exports

The President of Bursa Chamber of Commerce and Industry, Ibrahim Burkay, stated that the adjustments made for the application of a 40% additional customs duty on electric and hybrid vehicles imported from China for all fuel types starting from July 8th should be considered as a timely and important step demonstrating our economy management’s production and export-oriented growth determination. Emphasizing their support for the Ministry of Trade’s implementation of a 40% additional customs duty on electric and hybrid motor vehicles imported from China, Burkay highlighted that nearly 40% of the trade deficit the country faces is due to the trade with China. The recent high volume of vehicle imports from this country has been deepening the current account deficit and putting a significant burden on foreign exchange reserves. The regulation made for imported Chinese vehicles, for which not only our country but also European Union countries are preparing to impose additional customs duties, is a strategic move aimed at reducing the current account deficit and supporting domestic production. Burkay expressed gratitude to the Minister of Trade, Prof. Dr. Omer Bolat, and ministry officials for the regulation. He underlined the importance of supporting domestic industry and economy policies in strengthening the country’s economy, stating that economic policies that support both the general trade balance and our domestic industry, the backbone of our economy, will increase the competitiveness of our producers and strengthen our country’s economic independence. He added that a strong economy is only possible with a strong industry. Therefore, he emphasized that Turkey should be evaluated not as an import paradise but as a high-tech production center, and the country’s growth journey should be realized through qualified investments, high-tech production, and exports. In this context, he mentioned that Bursa, which hosts the domestic and national car project Togg and international investments, is the most suitable location with its production capacity and skilled workforce in the automotive industry, as well as its geographical advantages, offering unique opportunities to global investors.