As global trade tensions rise, Türkiye finds itself navigating both external shocks and domestic economic challenges. AK Party Deputy Chairman Mustafa Elitaş highlighted these realities during a recent speech, warning that the world is facing growing instability driven by trade wars. Elitaş stressed that Türkiye must build greater economic resilience, and a vital part of that effort is ensuring a future free of terrorism.
He underlined that people across every region of Türkiye now believe a terrorism-free country is possible, which is key to building what he described as a “Century of Türkiye” based on peace, development, and national unity.
Strategic Importance of Kayseri Highway and Integrated Transport
Ömer Gülsoy, President of the Kayseri Chamber of Commerce, expressed strong support for the long-anticipated Kayseri highway project, which has now reached the tender phase. Gülsoy emphasized that efficient transportation is a prerequisite for vibrant trade and economic growth.
The project is expected to bring significant benefits to Kayseri in terms of brand value, production capacity, tourism, and logistics infrastructure. Gülsoy stressed that completing the highway and connecting it with high-speed rail systems for uninterrupted access to ports would be a game-changer for the region’s economy.
Business Community’s Expectations from Central Bank Policy
In a meeting hosted by the Kayseri Chamber of Commerce, Central Bank Governor Dr. Fatih Karahan delivered a presentation on monetary policy and the broader macroeconomic landscape. Gülsoy described the presentation as constructive but took the opportunity to outline key expectations from the business community.
Among the top concerns were the strict credit growth limits currently applied to different types of loans. Gülsoy explained that thresholds set at 2.5 percent for SME loans, 2 percent for commercial loans, and 1 percent for foreign currency loans are making it difficult for businesses to access financing.
He called for an urgent revision of these limits, taking into account current market conditions and the financial needs of the real sector. Additionally, he noted that the limits placed on rediscount credits issued by the Central Bank to commercial banks should be expanded to support liquidity.
Another critical issue raised was the restricted number of installments allowed on commercial credit cards, which is creating unnecessary pressure on the market. Gülsoy proposed increasing installment options to support smoother cash flow for businesses.
Cross-Guarantee Burdens and Export Competitiveness
Gülsoy also addressed the burden created by cross-guarantees in newly launched investments, especially those funded through consortia. He proposed either eliminating cross-guarantees altogether or limiting them strictly to the value of the new investment, a change that would reduce strain on both investors and banks.
Exporters, he said, are losing ground in global markets due to the appreciation of the Turkish lira and rising production costs. He called for increased currency-based support mechanisms to help exporters maintain their competitiveness.
Gülsoy also requested that the limits on the Nefes Loan Program be raised. He stressed the importance of introducing high-value, condition-free loan packages backed by Türkiye’s Credit Guarantee Fund to inject new energy into the market.
Trade Protectionism and the Need for Swift Agreements
Elitaş warned that the world is moving into a new phase of trade protectionism. He explained that many countries are now adopting strategic tariffs, subsidies for domestic industries, and export controls for critical technologies, especially in response to China’s rise.
Türkiye, he said, must act quickly to complete bilateral and multilateral free trade agreements to avoid falling behind. Gülsoy echoed this view, noting that the global economic order established after World War II is under increasing strain, and Türkiye needs to be fully prepared for the emerging reality.
He emphasized that global economic competition has moved into a new phase, where dynamic productivity and strategic planning are the keys to survival. Unfortunately, Türkiye is still grappling with productivity challenges rooted in a static system.
Credit Access Remains a Pressing Concern
Gülsoy repeated a concern voiced in nearly every chamber assembly meeting. Businesses are facing significant difficulties accessing financing, and the high cost of credit is placing additional stress on already tight budgets. As capital reserves shrink, operational risks continue to rise.
He acknowledged the recent launch of the TOBB Nefes Loan Program as a positive step. According to Gülsoy, İzmir has received 1.6 billion TL through the program, with 770 of the 1,000 recipients being members of the local chamber. He expressed hope that this financial support would serve as a lifeline for more enterprises in need.
The Road Ahead for Türkiye’s Economy
The remarks from Elitaş and Gülsoy paint a comprehensive picture of Türkiye’s current economic challenges and potential solutions. On one hand, there is a clear call for national unity and security as foundational pillars of long-term growth. On the other, the business community is pushing for structural reforms, improved access to finance, and greater logistical connectivity.
If Türkiye is to remain competitive in a rapidly evolving global economy, it must strengthen its export infrastructure, lower financing barriers, and implement productivity-focused reforms. These steps will be crucial in transforming short-term survival strategies into long-term resilience.
