Azernews.Az

By News Centre

The Economic Coordination Council (EKK) held its fourth meeting of the year.

In a press statement issued after the meeting, it was emphasized that at a time when uncertainties in the global economy and geopolitical tensions are increasing, Türkiye’s macro-financial stability has strengthened and its resilience to shocks has improved.

The statement outlined measures taken to minimize the economic impact of developments in the region. It noted that the “equalization mechanism” (eşel mobil) has been temporarily activated to counter rising oil prices. In addition, foreign trade measures have been introduced for critical agricultural inputs, particularly fertilizers, and strategic stock management has been reinforced. It was also stated that a support package for the tourism sector has been launched, while guarantee limits have been increased to facilitate exporters’ access to financing.

The statement further noted:

At a time when changes in global supply chains are accelerating, and the focus is on green and digital transformation, priority is being given to active industrial policies aimed at strengthening high-value-added and technology-intensive production. Strategic investments and high-tech manufacturing are being supported through programs such as the Technology-Oriented Industry Move, the Investment Commitment Advance Loan, and the HIT-30 High Technology Investment Program.

Through KOSGEB, steps are being taken to facilitate SMEs’ access to financing, enhance production capacity, accelerate green and digital transformation, strengthen competitiveness, and support innovation-driven production. In addition, efforts are being made to develop the defense industry using domestic and national capabilities, while encouraging exports and high-tech production and supporting investments and R&D activities in this field.

Within the scope of the “Strong Hub Program for Investments in the Century of Türkiye,” announced last week by President Recep Tayyip Erdoğan, a series of legal, administrative, financial, and institutional steps will be implemented. These measures aim to transform the country into a regional management hub, increase its share in global transit trade, strengthen the entrepreneurship ecosystem, and position the Istanbul Finance Center as one of the world’s leading financial hubs.

Under the program, it is planned to create a more competitive investment environment through investor-friendly regulations, tax incentives, streamlined and accelerated bureaucratic processes via a “One-Stop Office” system, and policies centered on the Istanbul Finance Center (IFC).

Within this framework, the main issues discussed at the EKK meeting were as follows:

Developments in the manufacturing industry and efforts to strengthen SMEs were evaluated. It was decided to swiftly implement the planned steps—particularly under the “Strong Hub Program for Investments in the Century of Türkiye”—to preserve, enhance, and orient industrial capacity toward exports.

Recent financial developments were also reviewed, and the potential impacts of the US/Israel–Iran War on financial markets and the banking sector were discussed among council members. Measures aimed at increasing the share of the financial system—especially the Istanbul Finance Center—in global markets were reassessed. Ongoing efforts related to the expansion of public banks abroad, including the opening of overseas branches, were also addressed.

Türkiye, with its strong production infrastructure and geostrategic location, holds significant potential. The country will continue to implement policies aimed at strengthening its position in global transit trade and transforming itself into a functional corridor for energy and commerce.