108th World General Administrative Board Meeting (16-18 February 2023)

Esteemed members of our MÜSİAD, valued representatives of our business world,

Distinguished ladies and gentlemen,

Esteemed Members of the Press,

I greet you all with respect, affection and reverence.

Welcome to the 108th General Administrative Board Meeting of our MÜSİAD; it is a pleasure to have you here…

Distinguished guests, dear MÜSİAD Family,

Praise be to God, who has brought us together in our beautiful city of Antalya in this blessed month of Shaban al-Sharif, in these days when the scent of Ramadan al-Sharif has begun to reach our senses.

Only 700 km from here, from Antalya, a savage genocide is being carried out in Gaza before the eyes of humanity. Thousands of our oppressed brothers and sisters are being martyred. At the very beginning of my remarks, I condemn the terrorist state of Israel, its accomplices, and the forces of evil that support this savage genocide.

On this occasion, while remembering our martyrs of Gaza with mercy, I call upon the Islamic world, international public opinion and global organizations to stop this brutality of Israel.

I believe and I pray that sooner or later this occupation and genocide will end, that the state of Palestine with Jerusalem as its capital will be established, and that those who commit these barbaric crimes will be brought to justice.

Distinguished guests, my dear brothers and sisters,

For 34 years MÜSİAD has undertaken many beneficial works both for our country and for our people. MÜSİAD's cause has always been a cause of civilization…

As we carried the strength we drew from Anatolia to the four corners of the world, we never compromised on our ideals or on our roots.

While one of our feet has been firmly tied to the soil of Anatolia, the other has always continued its journey in the four corners of the world, with a vision of a business world rising on the foundation of virtue, high morals and trust.

In this important cause of civilization that it pursues, MÜSİAD has always stood by the one who is right, the one who labours and the one who strives. Today, God willing, we will continue to carry this cause of civilization — which reaches the four corners of Anatolia and indeed of the world — even further.

For this reason we will in particular continue our work and our comprehensive, highly influential events that we carry out throughout the year.

Dear MÜSİAD Family,

In this context, I would first like to tell you in broad outline about the main events we will be holding in the coming days:

  • In the coming days we will hold the IBF International Business Forum, which is among our most important organizations. As you know, our IBF meetings, held consistently since 1995, are an international organization that has become a meeting point for a great many business people who come together each year.

IBF is at the same time an international platform established by MÜSİAD. Setting out from the idea of establishing a “global business network” among Muslim business people, this platform today brings together 42 business associations from a total of 25 countries.

Our IBF Summit this year will be held in Saudi Arabia between 3-11 March 2024. At the events to be held in Riyadh, Jeddah, Mecca and Medina, an Economic Forum Summit, B2B meetings, a fair, and meetings with chambers of commerce will take place. Within the scope of our summit, the participation of around 300 business people from Türkiye will be arranged.

  • As you know, we have brought together the “Türkiye Economy Press Awards”, which we have organized 17 times to date, and the “Science and Technology Awards”, which we have organized a total of 6 times, under the roof of the “Power of Türkiye Awards”. At our awards ceremony, which we will hold with the participation of representatives of the business world, academics, politicians, artists and members of the press, we will present awards in 9 separate categories at the national level.

The “Power of Türkiye Awards”, the first of which we organized in 2022 with the participation of our President, Mr. Recep Tayyip Erdoğan, will be held this year too, on 9 May 2024, at the Atatürk Cultural Centre.

  • The MÜSİAD EXPO Fair, one of the most important activities of our MÜSİAD and held every two years, is again among the most comprehensive events we will hold this year. Our fair, which we organize in order to increase the effectiveness of our country and our business world in global markets, brings together the leading names of the business and political worlds with an ever-increasing number of participants and sectoral diversity each passing year.

Since 1990, we have worked very hard with the goal of displaying, every year, a performance above that of the previous year through the activities and events we hold.

Dear MÜSİAD Family,

As business people and people of commerce, alongside lawful earnings, we work with the passion of carrying our country higher in economic terms. God willing, in 2024 we will continue our work without slowing down, with the “Century of Türkiye” goal pointed out by our esteemed President.

Türkiye, which in 2022 achieved the distinction of being the 3rd fastest-growing country in the G20 with %5.6, entered 2023 with this same motivation. Indeed, in January, on an annual basis, increases of %10.3 in exports, %4.5 in industrial production, %33.9 in retail sales and %94 in total turnover were recorded; the unemployment rate also fell to %9.7.

However, right at the beginning of the year, we found ourselves face to face with a major crisis environment brought by the disaster of the century that we experienced. The two major earthquakes centred on Kahramanmaraş on 6 February not only caused a great loss of life but also completely interrupted economic activity in 11 of our provinces in the Eastern region.

But, thanks be to God, despite these earthquakes described as the “disaster of the century”, the Turkish economy, which showed great resilience by growing %4 in the first quarter of the year, maintained this performance in the second quarter as well and advanced positively within the global economy by growing %3.9.

Finally, the Turkish economy, which grew by %5.9 in the third quarter of the year, also succeeded in becoming the 2nd fastest-growing country in the G20 in that period.

On the other hand, at such a time when our country, together with the leading economies, is confronting the problem of inflation and is in a monetary tightening process, the increase in the growth rate of the Turkish economy is a development that deserves appreciation. Ultimately, it is estimated that price increases will also fall to far more reasonable levels, particularly as of the second half of 2024.

2023 also passed leaving positive traces in foreign trade. Alongside the annual export volume that reached a record level of USD 255.8 billion, the foreign trade deficit, which narrowed by %3.2 compared with the previous year thanks to the decline in imports, also presented a positive picture. The current account deficit, which fell by %8 compared with the previous year to USD 45.2 billion, was also another gratifying development regarding 2023.

In short, 2023 was an important and successful starting year for the Turkish economy in the name of macro-financial rebalancing. Together with 2024, in which the rebalancing process will continue, the Turkish economy will keep moving step by step closer to its goals of permanently reducing inflation, ensuring stability in the exchange rate, and achieving sustainability in public fiscal balances and foreign trade.

We have full confidence that our country — which carries the flag of exports to more than 200 countries and which has made very great strides in many fields, from the economy to infrastructure and urbanization, from education to health — will sustain this success in the coming period as well, and will enter the ranks of the world's 10 largest economies in the “Century of Türkiye”.

Dear MÜSİAD Family, esteemed members of the press,

MÜSİAD is the result of a return to the essence and of the desire to seek out its roots. The founding of MÜSİAD is the sprouting and taking root of the understanding of the Marketplace of Medina in these lands.

As MÜSİAD, we continue on our path with the philosophy of working together, of lawful earnings, and of winning together with the understanding of “we”. Because MÜSİAD means keeping the interest of the country and the people at the forefront always and under all circumstances.

MÜSİAD means working and struggling so that Türkiye takes its place in the world as a strong country. Because MÜSİAD means being one, being united and being together. I greet with respect and reverence all the business people who contribute to our MÜSİAD with their efforts, their labour and their sweat, and who provide added value to our country's economy…

May God protect you.

Mahmut Asmalı

President of MÜSİAD