Turkish business circles welcome new economic plans

ANKARA

Business representatives in Turkey welcomed pledges Wednesday by the country's president to improve the country's investment environment.

Speaking at the parliamentary group meeting of his ruling Justice and Development (AK) Party in the capital Ankara, President Recep Tayyip Erdogan said new steps would soon be taken to open a new era for an improved investment climate and more effective economic policies.

"We believe that with the new steps to be taken, confidence in the Turkish lira will increase rapidly, said Nail Olpak, chairman of the Foreign Economic Relations Board (DEIK).

"We hope to enter a new era with a favorable environment for long-term savings and investments," he noted.

Also commenting on the program, Ismail Gulle, head of the Turkish Exporters' Assembly (TIM), said investment and production in Turkey would become much more productive.

"Stability in exchange rates and macroeconomic indicators is reflected in an increase in exports and investments," he said, adding that Erdogan's emphasis on low risk and financial stability was very positive.

Gulle also said the president's messages on protecting the free market showed foreign investors Turkey's reliability.

"We believe that the V-shaped recovery observed in our economy will accelerate with the call for stability, growth and employment-focused mobilization," said Abdurrahman Kaan, the head of Turkey's Independent Industrialists' and Businessmen's Association (MUSIAD).

In the new era, Turkey will enact structural reforms, including improvements in the investment climate and measures to curb to shadow economy.

Also, steps are to be taken in the coming months to strengthen the rule of law and the judicial system.