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By News Centre

The Independent Industrialists' and Businessmen's Association (MÜSİAD) EXPO 2024 International Trade Fair, which is among the important events of the business world and aims for a business volume of $1bln, has started.

The event, which started with the participation of Vice President Cevdet Yılmaz, Turkish Treasury and Finance Minister Mehmet Şimşek and Trade Minister Ömer Bolat, opened its doors at Tüyap Fair and Congress Center.

The Albayrak Group and TÜMOSAN stands will host visitors and customers at the Fair, which will also reflect the strong tradition of the Albayrak Group.

Trade Minister Ömer Bolat also delivered a speech.

Bolat stated that Turkiye ranks 17th in terms of national income and 11th in terms of purchasing power parity in the global arena and increased its share in world goods exports to 1.08 per cent.

"These are pleasing and proud developments and achievements. But are they enough? No. We have a long way to go and a long way to go," he said.

Minister Bolat noted that the event, which is being held for the 20th time this year, is the reality of a great dream that started with the 9 square meter stands of 70 companies at the Izmir International Fairground on October 29, 1993.

"This is also very important evidence that shows continuity and growing stronger. Together with the 28th International Business Forum (IBF) that was opened yesterday, these are two very important organizations that bring together the tradesmen of the Islamic world," he added.

Bolat emphasized that MUSIAD EXPO and IBF are very important international trade and investment platforms that bring together the entire Muslim business world from the USA to Indonesia, from South Africa to Russia, from Portugal and England to the Middle East with their brothers in Turkiye.

“The great success story of Turkiye in the last 22 years is actually a clear indicator of where MUSIAD EXPO has come from in this period and said, "As MUSIAD EXPO has grown, Turkey's economy, foreign trade, international investments and service sector have grown as much," he stated.

Minister Bolat said that Turkiye traded $605bln in goods, $170bln in services, and became a very important country in the global arena with $1.2trl in revenue.

"It increased its share in world goods exports from 0.49 per cent to 1.08 per cent in 22 years and increased its share in services exports from 0.89 percent to 1.35 percent. These are pleasing and proud developments and achievements. But are they enough? No. We have more to run and a long way to go. We will do these together with you, valuable members of the business world," he pointed out.

Noting that Turkiye increased its share in trade with Islamic countries from 11 per cent to 26 per cent in 22 years, Bolat said, "Hopefully, we aim to reach 30 percent first and then 35 per cent by 2028."

Trade Minister stated that as a Ministry, they are always on the side of exporters and that they are working to increase exports and provide resources to exporters with all their units and supports.

Sharing the incentives and supports offered to exporters, Bolat noted that they also made trade agreements with foreign countries, organized international summits and meetings, and played a team game with all stakeholders in the sector.

"Our vision is the whole world. We will make the Century of Turkiye the century of trade. The point we have reached, thank God, under the leadership of our President, is a point that no one could have imagined 22 years ago. They see this very well from the outside, they appreciate it, and they envy it. We are a country that has been completely renewed with its infrastructure and superstructure, has become a major production and supply centre, has managed to reach the whole world with its ports, logistics centres, airports, and airways, and has successfully implemented the Customs Union with the European Union, and has invited us to the negotiation table to expand this to the services sector," said Bolat.

The Minister pointed out that Africa is 45 minutes away from Antalya by air, that they have increased foreign trade with this continent to $37bln, and that great breakthroughs have been made in all areas such as investments and contracting services.

Bolat stated that relations with the Islamic world are progressing in the field of economy within the Organization of Islamic Cooperation (OIC) Standing Committee for Economic and Commercial Cooperation (COMCEC).

"We have a preferential trade agreement with 13 countries. Hopefully, we will develop this to more countries and strive to make a new generation trade agreement," he added.

Bolat concluded his remarks by pointing to the agreements and organizations recently made between Türkiye and Islamic countries.

Then MUSIAD Chairman Mahmut Asmalı made a speech at the opening of the fair and stated that Turkiye has been a trade centre throughout history and that these ancient lands located at the heart of the Silk Road have always been the centre of production, and trade and added value generation.

"Today, we are preparing to lead world trade once again by combining this ancient mission with the requirements of the modern world since the first day we were founded,

Mahmut Asmalı said, that this year, they are hosting 2,150 participants from 115 countries and more than 300 companies from 24 sectors on the path we set out on with the slogan 'Global Trade is Here'. They are happy to come together with participants from a wide range of sectors, especially textile, machinery, construction, energy, food, defence industry and advanced technology companies.

"We are also presenting a vision that guides the future in light of our deep-rooted past, beliefs and values. The 'Medina Market' concept that we never stop talking about and that has become synonymous with MUSIAD guides us at this point. As we all know, the 'Medina Market' spirit is not just a commercial system, but a guide for humanity. Inspired by the Medina Market, which is a symbol of solidarity, sharing and trust, we have been bringing together our local and foreign business people for years in cooperation opportunities based on justice and trust. Therefore, we know this very well; during MUSIAD EXPO, not only business agreements will be made, but also new bridges of brotherhood will be built and the foundations of strong partnerships will be laid," he said.

MÜSİAD Chairman Asmalı stated that the large delegations, especially from Algeria, Iraq, Malaysia and England, will provide great momentum in spreading trade to a global scale at the fair where there are 19 country pavilions, and announced that with the support of the Trade Ministry, they will bring together over 650 participating purchasing delegations from 88 different countries with Turkish companies.

Asmalı stated that a large investor group from Malaysia, ministerial level participation from Iraq, and purchasing delegations from England and Algeria once again demonstrated the strategic importance of Turkiye in the business world, and said that they wholeheartedly believe that they will reach the $1bln trade volume target at the end of the fair.

Asmalı noted that a full program awaited them from the first day to the last day of MUSIAD EXPO.

"We will hold important discussions on the world economy with the G20 Panel. We will strengthen the friendship and trade ties between the two countries with the Turkiye-Iraq Business Forum. We will bring together international investors and Turkish entrepreneurs with the MUSIAD INVEST program. We will strengthen our solidarity with the valuable representatives of our business world at our gala dinner," he said.

Sharing that the fair is expected to be visited by President Recep Tayyip Erdoğan on November 29, Asmalı talked about the breakthroughs in the Turkish economy in the last 22 years under Erdoğan's leadership.

MUSIAD EXPO, which is being organized for the 20th time this year and hosts more than 300 companies and participants from 24 different sectors, will last for 4 days.

The event, which will host 2,150 participants from 115 countries in total, will host more than 650 foreign procurement delegations.

The fair, which will bring together business people, industrialists and investors and enable the establishment of new collaborations, aims to reach a trade volume of $1bln with these meetings.

Within the scope of MUSIAD EXPO, which has the vision of strengthening Turkey's position in the international trade field, the G20 Panel, Diplomatic Missions Session, Turkey-Iraq Business Forum, MUSIAD INVEST Networking Program and closing programs will be held.

On the last day of the fair, which will host B2B meetings with foreign purchasing delegations, country presentations introducing the general characteristics of countries where investments can be made, special programs and MoU agreement signing ceremonies will be held.