Protecting Our Industry Is of Critical Importance
Over the past 74 years, the Istanbul Chamber of Industry has not only witnessed the development of Türkiye’s industry; it has also served as a school, a guide, and a powerful hub for collective wisdom for our industrialists.
In this issue, we are also delighted to share the joy and pride of a very special visit that has become part of our Chamber’s history. Hosting Her Majesty Queen Mathilde of Belgium at the Istanbul Chamber of Industry on May 11 as part of the Belgian Royal Economic Mission’s program marked one of the first such events in our Chamber’s history and was a great honor for us.
This meaningful gathering included a panel discussion titled “The Role of the Business World and Entrepreneurship in Empowering Women,” focusing on women’s stronger participation in the business world, entrepreneurship, manufacturing, and decision-making processes, the details of which can be read in the following pages. We believe it will make valuable contributions to economic and social cooperation between Türkiye and Belgium.
Today, our industry is navigating a highly challenging period on both the global and national scales. In this context, we held our May General Assembly under the agenda “Economic Outlook from the World and Türkiye; Recommendations to Preserve the Competitive Strength of Our Industry and Manufacturing Sector.” During the panel discussion attended by distinguished economists, we discussed just how important and critical it has become to preserve the competitiveness of our manufacturing sector in an environment marked by deepening geopolitical tensions, fluctuating energy and commodity prices, ongoing vulnerabilities in supply chains, increasingly difficult access to financing, and weakening global demand.
Currently, Turkish industry faces multifaceted pressures, including high costs, a slowdown in domestic and foreign demand, tight financing conditions, and the need for predictability. This situation necessitates that we listen more closely to the voice of our industrialists and decisively implement steps to support the manufacturing sector.
At this juncture, we should not view the fight against inflation and the protection of manufacturing as conflicting objectives. On the contrary, the path to sustainable price stability lies in implementing complementary policies that enhance the industrial sector’s competitiveness without undermining output capacity. Facilitating access to financing, alleviating cost pressures, supporting export-oriented sectors, expanding selective loan opportunities, accelerating technological transformation, and encouraging high-value-added output are among the most critical priorities of this period. Protecting our industrial ecosystem is indispensable not only for economic growth but also for employment, exports, social welfare, and our country’s strategic strength.
As ICI, we will continue to support the sustainable development of our industry and address the challenges of our manufacturing sector with a solution-oriented and rational approach. We believe that the challenging period we are currently navigating can be overcome through strong policies, partnerships, and unwavering support for manufacturing. Preserving Türkiye’s manufacturing capacity and moving toward the future with a more resilient industrial structure is a shared responsibility for all of us.
As I conclude my notes, I would like to once again celebrate the May 19 Atatürk Commemoration, Youth, and Sports Day, which we celebrated with great enthusiasm last month, and remember with gratitude, respect, and prayers all our martyrs and veterans, foremost among them Gazi Mustafa Kemal Atatürk.
We also celebrated Eid al-Adha in the last week of May. I hope that the feelings of solidarity, sharing, and brotherhood that these holidays remind us of will further strengthen our unity and solidarity in our social life. I wish you all a peaceful month.
Erdal Bahçıvan
Istanbul Chamber of Industry
Chairman of the Board of Directors