Istanbul Chamber of Commerce President Şekib Avdagiç Makes Statement on Loan Interest Rates and Supply Chain

Istanbul Chamber of Commerce President Şekib Avdagiç touched upon the Central Bank's interest rate policy, stating that they expect the reflections of reductions in loan interest rates, and also delivered important messages on global trade, supply chains, and artificial intelligence transformation.

Central Bank and Loan Interest Rate Expectations

Istanbul Chamber of Commerce President Şekib Avdagiç stated that they observe the Central Bank acting somewhat more tight-lipped regarding interest rates. Indicating that the first sign was the closing of the 3-point window, Avdagiç said they expect this reduction to be reflected in all loan interests. He stated that Turkey has fallen somewhat short of its inflation targets and that certain steps were postponed due to the war in the Gulf.

Global Trade and Geopolitical Risks

Stating that wars are taking place to the north and south of Turkey due to its geographical location, Avdagiç emphasized that problems in the Hormuz region and routes leading to the Suez affect the business world. Expressing that trade loves peace but the current conjuncture has created a process affecting the entire world, Avdagiç noted that increases in freight prices and insurance uncertainties cause additional costs and delayed shipments.

Secure Supply and New Protectionism

Şekib Avdagiç said that rather than sourcing under the most favorable conditions, sourcing from the safest place has become important. Stating that Turkey has given a very positive performance in this area over the last 10 years, Avdagiç expressed that the advantage of being a secure supplier must be carried further. He also added that protectionism is changing and countries are expanding tariffs and non-tariff barriers.

US Tariffs and International Uncertainties

Stating that volatile customs tariffs implemented since US President Donald Trump took office have led to global uncertainty, Avdagiç emphasized that the Turkish business world must meet certification expectations. He drew attention to the importance of adapting to border carbon regulations and certification processes.

Artificial Intelligence and the Transformation of the Business World

Şekib Avdagiç also gave extensive coverage in his evaluations to artificial intelligence processes and the adaptation of SMEs in this field. He stated that it is of critical importance for the business world and workforce to integrate into artificial intelligence in order to prepare for the future.