Türkiye can move up global value chain, says Şimşek

LONDON

Türkiye has strong human capital and infrastructure, offering robust incentives for comprehensive industrial initiatives, said Finance Minister Mehmet Şimşek.

Speaking at a reception marking the 20th anniversary of the Presidential Investment and Finance Office at the Turkish Embassy residence in London, Şimşek said these strengths will help Türkiye move up the global value chain.

“We are part of the Middle Corridor and are investing in regional connectivity,” he noted.

He added that the war in the Middle East is prompting a rethink of supply chains, encouraging diversification and the creation of new trade corridors.

“At the same time, it will accelerate the green and digital transformations, which present significant opportunities. Our focus is on this twin transformation, and we are making good progress. Defense industry is among our priorities, but there is strong potential across all sectors,” he said.

Acknowledging the difficult global environment, Şimşek remarked, “The war in the Middle East is like a dark cloud. Yet from a broader perspective, Türkiye is not only an island of stability but also a strong production base and a dynamic services hub.”

Şimşek noted that it is a challenging period, saying: “In my view, Türkiye is once again becoming a magnet for global talent and capital.”

He underlined the government’s commitment to its economic program: “We will continue to implement our program aimed at permanently reducing inflation, ensuring sustainability in the current account balance and enhancing competitiveness, while also taking the necessary steps for this transformation.”

Ahmet Burak Dağlıoğlu, president of the Investment and Finance Office, stated that Türkiye has today become a regional hub for production, management, R&D, logistics and supply activities for multinational companies.

“But this journey will not end here. Within the framework of current global and regional developments, we believe Türkiye’s position will be further strengthened and elevated to the level of a global economic power. Of course, this will not happen overnight, but we are confident that in the coming decades we will achieve this goal,” he said.