Prof. Dr. Emre Alkin at IREPAS: Turkey has permanent flow of foreign direct investment

Monday, 17 September 2018 16:08:08 (GMT+3)   |   Istanbul
       

Speaking at the SteelOrbis 2018 Fall Conference & 79th IREPAS Meeting held in Istanbul on September 16-18, Prof. Dr. Emre Alkin, vice president at Altınbas University, said that there will be more wars and tensions in the 21st century compared to the previous century, but added that the consequences will not be bad for business. He indicated that what we are experiencing currently is because the US is trying to be less dependent on abroad for its consumption, and so is seeking to reduce imports.

Commenting on the Turkish economic situation, Prof. Alkin said, “The main problem is some companies who took foreign exchange loans because the interest rates are so low did not think about the history of the Turkish economy. Now they say they cannot pay. The problem in Turkey is not the foreign debt, the problem is the foreign debt of companies who have no dollar or euro revenues”. He pointed out that foreign direct investment is flowing permanently into Turkey, not temporarily. “We have conflicts with the US, but it is still the biggest investor. We still have trade relations with countries we have conflicts with”, he added.

Regarding the announcement of the Turkish government that contracts will have to be concluded in Turkish liras instead of in US dollars, Prof. Alkin said, “This should have been done before not today. It was a bit of a late call”.


Similar articles

Turkish steel industry’s carbon emissions can be cut by 99% by 2053

19 Mar | Steel News

Veysel Yayan: Turkey’s exports expected to increase in 2024, crude steel output may exceed 40.4 million mt

05 Mar | Steel News

Ayhan Uçar: Scrap will be more valuable during green transition, Turkey may face scrap supply issues

05 Mar | Steel News

Turkish steelmakers remain under strong pressure to export

29 Nov | Steel News

Tayfun Iseri: Market concerned over possible further regionalization

28 Nov | Steel News

Steel mills in Turkey reshaping billet imports, bigger problems may be seen in scrap in mid-term

15 Dec | Steel News

Turkey’s steel industry faces declining competitiveness amid higher costs and shrinking exports

15 Dec | Steel News

Barış Çiftçi: Global steel industry on edge of transition process 

30 Nov | Steel News

Erhan Özdemir: Turkey will continue to have a good position in global steel market despite regionalization

14 Jun | Steel News

Veysel Yayan: Exports support growth of Turkey’s steel production

01 Dec | Steel News