Turkish Treasury and Finance Minister Berat Albayrak
Turkish Treasury and Finance Minister Berat Albayrak is to meet with foreign investors via teleconference on Thursday.
The minister will relay his message about the current development of the Turkey economy directly to investors from around the world, the ministry told Anadolu Agency.
While the teleconference was expected to be attended by 750 to 1,000 participants, namely from the U.S., the Europe and the Middle East, so far, over 3,000 have registered.
This number is expected to increase until Thursday's address..
The teleconference is to begin at 4.00 p.m. local time in Turkey (1400GMT) or 9.00 a.m. local time in New York.
Turkey will continue to take steps to protect Turkish lira's value in international trade, Treasury and Finance Minister Berat Albayrak said on Tuesday.Speaking at a symposium in capital Ankara, Albayrak said: "The U.S. dollar has been turned into a tool for diplomatic punishment. The U.S. dollar has lost its credibility."The minister said Turkey will take steps keeping in view the free-market to reduce currency risk of companies.European bank 'remains committed' to Turkey"We will determine companies affected by rising foreign currencies and we will continue to put them at ease," he added.He also said tangible and effective reforms will be the most important part of Turkey's economic policy in the coming period.Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Süleyman Soylu and Justice Minister Abdulhamit Gül for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.U.S. President Donald Trump on Friday ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively, causing the lira to lose value against the dollar.Pakistanis launch ‘buy Turkish products’ campaignEP Forum slams US tariffs on TurkeyWorld leaders slam Trump’s sanctions, express support for TurkeyTurkey faces speculative attack, not crisis: BankerUS sanctions hurting its own reputation: Turkish FM
US dollar has lost its credibility: Turkish FinMin
Turkish President Recep Tayyip Erdoğan on Tuesday said that Turkey will boycott U.S.’s technology products amidst a row between the two diplomatic allies.Referring to the fluctuations of the exchange rate, he said that the necessary measures have been taken and delaying production, switching to foreign currency would mean giving into the enemy.During his speech, Erdoğan also accused the U.S. of using the economy as a weapon, saying, “As they couldn’t make us do what they wanted on the field, they don’t hesitate to use economy as a weapon.”“The U.S. has targeted not only Turkey but also many regions from China to Russia, and from Iran to Europe.”Reitarating the importance of converting their foreign exchange savings into liras, Erdoğan stated, “The best response would be converting dollars and save the honor of the Turkish lira.”Video: Erdoğan: Turkey will boycott US electronic productsCalling the latest financial pressures of Trump a “deep operation” Erdoğan said, “When we reach our targets in 2023, every Turkish citizen will be twice wealthy as they are now.”Stressing the importance of keeping a firm political stance, he said, “There is an open economic attack against Turkey. In the past, these kind of things were done more covertly and indirectlyThere are two things we can do: one is putting forth an economic and political stance.”“I am calling out to the business world. We will produce and export more. We will boycott U.S.’s electronic products,” Erdoğan conluded.Relations between Ankara and Washington have been rocky since the Trump administration imposed sanctions on Turkey’s interior and justice ministers last week after Ankara refused to release American Pastor Andrew Brunson, who faces terrorism-related charges in Turkey.Last Friday, President Donald Trump doubled tariffs on aluminum and steel imports from Turkey.Turkish President Recep Tayyip Erdoğan in his turn said Turkey would turn toward new markets, new partners and alternative financial tools.“If you pressure us through the dollar, we will look for other ways to carry out our works,” he said.Terming the recent U.S. tariffs on Turkey as an “economic war,” the Turkish president said: “We’ve seen your game and we challenge it.”The aim of the recent U.S. pressure is “to ensnare Turkey in every field from finance to politics,” the president noted.“We will not surrender,” Erdoğan asserted.Turkey takes high level security measures around US pastor Brunson’s houseTurkey-US relations: From visionary to myopicTurkey 'most suitable' for investment despite perception operations: FMErdoğan slams US for preferring terrorists as partner
Erdoğan says Turkey will boycott US electronic products
Turkey will never avoid protecting Turkish firms from unfair treatment by the U.S., Trade Minister Ruhsar Pekcan said Wednesday.Speaking at the Turkey-Africa trade and economic relations consultation meeting in capital Ankara, Pekcan said Turkey will continue to take necessary steps to counter the U.S. moves."We have doubled tariffs on 22 products coming from the U.S., responding to the recent U.S. sanctions with additional tariffs worth $533 million last night," the minister said. Group of Turkish NGOs voices support for governmentThe U.S. is an important trading partner of Turkey but it is not the only one; our country has several partners and alternative markets, Pekcan said.American President Donald Trump announced on Aug. 10 the U.S. was doubling aluminium and steel import tariffs on Turkey, fixing them at 20 percent and 50 percent, respectively.Turkey has increased tariffs on several U.S.-origin products, including alcohol and tobacco products and cars, according to a new presidential decree published early Wednesday in the official gazette.Turkey doesn't want economic war with US, but wont stay silent: presidential aidePekcan added trade and economy should not be affected by political reactions.She called for economic cooperations instead of a world with trade wars.She said increasing Turkish investments in Africa remains one of the priorities for the government."We see great potential in this field. We will continue our joint works on increasing economic prosperity and employment," Pekcan said.The Turkey-Africa Economic and Business Forum will be held in Istanbul on Oct. 10-11.Business community backs Turkish economyTurkish court rejects US pastor’s appeal for release for second time
Turkey's doubling tariffs on US products will amount to $533 mln
The Turkish public, institutions and organizations have rallied behind Turkey’s economy to counter the economic war initiated by the United States which sparked speculative rises in currency. As the government takes the necessary steps, citizens have exchanged their foreign currency holdings into the Turkish lira. A slew of support messages streamed in from the business community, calling the Turkish economy strong and durable.“Today is the day to unite and work in solidarity for the future of a strong Turkey. We are answering President Erdoğan’s call for currency mobilization as a single entity, and we say that we are behind him! We owe it to our nation to work harder. The Ankara Chamber of Commerce is resolute,” said President of the Ankara Chamber of Commerce Gürsel Baran.“Our people will not be brought to their knees through economic attacks. We have no doubt that these attacks will be dispersed. We will continue to produce more and work harder. Every penny in our pocket is for this country. We as the business community will always stand beside our country and people,” said Ankara Chamber of Industry President Nurettin Özdebir.The lira firmed as far as 5.75 against the dollar on Wednesday and stood at 5.9350 at 0745 GMT.Turkey-U.S. rowTurkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Süleyman Soylu and Justice Minister Abdulhamit Gül for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.Banking watchdog puts new limits on FX swapsU.S. President Donald Trump last week ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively, causing the lira to lose value against the dollar.Turkey imposed tariffs on several U.S.-origin products, including alcohol and tobacco products and cars, according to a new presidential decree published early Wednesday in the official gazette.Turkish President Recep Tayyip Erdoğan in his turn said Turkey would turn toward new markets, new partners and alternative financial tools, and said that the country would boycott U.S. electronic products.Turkish court rejects US pastor’s appeal for release for second time“If you pressure us through the dollar, we will look for other ways to carry out our works,” he said.Terming the recent U.S. tariffs on Turkey as an “economic war,” the Turkish president said: “We’ve seen your game and we challenge it.”The aim of the recent U.S. pressure is “to ensnare Turkey in every field from finance to politics,” the president noted.“We will not surrender,” Erdoğan asserted.Video: Rationale of US tariffs very weak: Harvard economics professorTariffs on Turkish imports ‘pose serious risks’ for USTurkey raises tariffs on US-origin products
Business community backs Turkish economy