ITO President Avdagiç's Evaluation on Economy, Inflation, and Artificial Intelligence

Istanbul Chamber of Commerce President Şekib Avdagiç made evaluations regarding Turkey's economic agenda during a program he attended. Stating that industry should not be suppressed during the fight against inflation, Avdagiç shared his views on global supply chains, interest rate policies, artificial intelligence transformation, and youth employment.

Global Supply and Secure Trade

Stating that Turkey is located at the center of regional conflicts due to its geographical position, Istanbul Chamber of Commerce President Şekib Avdagiç expressed that problems in the Strait of Hormuz and the Suez route affect global trade.

Drawing attention to the increases in freight and insurance prices, Avdagiç stated that the secure supply model has gained importance instead of cheap supply, and that Turkey should develop its advantage in this area.

Inflation and Interest Rate Policies

Making evaluations regarding inflation and interest rate policies, Avdagiç noted that they expect positive reflections on loan interest rates once the gap between the Central Bank's reference interest rate and overnight rates closes.

SMEs' Adaptation to Artificial Intelligence

Stating that Turkey has a usage rate of one-fourth in artificial intelligence technologies compared to Western countries, Avdagiç said that large companies are adapting to the process.

Avdagiç emphasized that training experts alone is not enough, that SMEs need to be supported in this process, and that it is essential to prepare both blue-collar and white-collar workers for artificial intelligence.

Employment and Education Alignment

Touching upon structural problems in the labor market, Avdagiç announced that the number of young people who are neither in education nor in employment is close to 700,000 in Istanbul and nearly 3 million nationwide.

Stating that educational institutions should take the personnel needs of the business world into consideration more, Avdagiç conveyed that the number of İTOTAM arbitration cases has increased in recent years and highlighted the importance of Istanbul becoming an international arbitration center.