Turkish business leaders talk up country's future

ANKARA

Leading figures from Turkey’s business world said on Monday they do not expect Friday’s failed coup attempt to deter international investment.

Speaking at a joint news conference in Istanbul, Ahmet Erdem, president of the International Investors’ Association of Turkey (YASED), said: "We do not expect the failed coup attempt to have an impact on position of foreign investors."

According to Erdem, the failed coup attempt had opened the way to strengthen Turkish democracy and the rule of law further.

"Steps in this direction will boost the confidence of international investors in Turkey," Erdem said.

In an interview with a private television channel on Monday, Huseyin Aydin, the head of the Banks’ Association of Turkey (TBB) said: “Investors who know the country understand that this is a temporary situation.”

“Until now, we have not needed to apply any measures upon which we had earlier agreed in the meeting with the Central Bank," Aydin added.

The Turkish lira had regained its value by Monday to trade around 2.97 against the U.S. dollar, compared to 3.05 after the coup attempt on Friday night.

Turkey's main stock index, the Borsa Istanbul 100, was trading 7.6 percent lower compared to close on Friday.

'Darkness brings its own light'

Speaking at the Monday news conference in Turkey’s largest city, Istanbul Chamber of Industry (ITO)’s Erdal Bahcivan said: “Each darkness brings its own light. This event, if used properly, brings a great opportunity to Turkey."

Bahcivan said that the Turkish people had protected democracy by paying a heavy price.

"There was a perception that Turkish people do not have the courage to prevent a coup," Bahcivan said.

ITO head Ibrahim Caglar agreed with Bahcivan, saying: "As the Turkish business community, from now on we will keep trying harder, exerting more effort."

The head of the Independent Industrialists’ and Businessmen’s Association (MUSIAD), Nail Olpak, said the defeat of Friday's coup was a "feast of Turkish democracy".

"Our country first experienced the darkness and then the light with the help of great faith on the Friday night," Olpak said.

"Turkey passed a very vital test for its future on the weekend" the head of the Foreign Economic Relations Board (DEIK), Omer Cihad Vardan, said.

"If we demonstrate unity as citizens of the Turkish Republic for the national interest, regardless of different opinions, nothing called a ‘coup’ will remain in the memories," Vardan added.

"Turkey will overcome this difficult period. Only nine of our foreign guests in Antalya applied to go back to their countries. There are no cancellations for domestic tourism," Basaran Ulusoy, head of the Association of Turkish Travel Agencies (TURSAB), said.