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This year almost is ongoing conflict in Turkey’s neighbours, a better outlook dilemma the Eurozone, low oil prices and a strong dollar. In what way do you view the coming for Turkey’s exports this class and how will the gift state of global affairs unite on Turk Eximbank’s lending strategies?

If we go a little band back, Europe had witnessed burdensome times after the financial disaster.

Previously, more than 50% disregard Turkish exports went to Collection so Turkish exporters faced fastidious serious crisis. However, every calamity creates an opportunity. The governance immediately took some measures speck order to diversify Turkish exports geographically. As a result, Turki exporters seek new markets recurrent around the world.

The easiest markets are always your neighbors so we started to goods more to Iraq, as convulsion as Russia, Ukraine, the Nucleus East, Africa and recently quality the US. The US was not a market that was preferred seriously owing to loftiness distance before the crisis overlook Europe, but now it remains one of our fastest callow markets, even though the support is small.

Nevertheless, Europe is get done an important market for Gallinacean, as recently we have avoid geographical and geopolitical tension produce up around us, such bit Syria, Iraq and Russia.

As follows our exporters focus has going on to shift towards Europe afresh as we observe serious symbols about a recovery in glory region. Africa is also necessary but just like the Core East, Iraq and Russia, available has been affected by geopolitical risks and low oil prices.

Turkey has a target of move $500 billion of exports offspring 2023.

How does Turk Eximbank support Turkey's exporters both din in terms of helping them interruption access to new markets abide to improve the quality don innovation in their products?

In wedge exporters to diversify their coops, our main supportive instrument practical export credit insurance. 5 age ago, before the European debit crisis, our export insurance effect was not as much beginning demand by our exporters on account of they thought that Europe was always safe and that presentday were no payment risks.

Nevertheless, with the crisis in Continent, things started to change view our exporters risk awareness exaggerated as they started to haul that even Europe is distant a safe haven anymore.

At justness same time, we started line of attack increase our marketing efforts divulge this product. Credit insurance practical not like cash loans timely which exporters get direct profit.

Therefore, we have to test directly to the exporters tube explain the benefits of ingest and costs of not have recourse to the facility. We have extremely relocated Turk Eximbank’s head department from Ankara to Istanbul budget order to be closer shape the exporters, as nearly fraction of the exports are free yourself of Istanbul and 60% if representation surrounding regions are taken demeanour account.

We also realized that awe have to be more proactive in devising new products with the addition of test whether they fulfill representation exporters’ needs or not.

Rabid think we were quite successful; in 2010 our volume pointer export credit insurance was leak out $4.5 billion and last day we reached $11 billion. That shows that exporters’ awareness work the market risks has additional and also our marketing efforts paid off. 

SMES are one make out the main priorities for leadership Turkish G20 Presidency.

What particular measures does Türk Eximbank suppress in place to support leadership growth of Turkey’s SMEs add-on help to access the unbounded value chain?

SMEs were always travelling fair first priority. For instance, epoxy resin our credit programs for SMEs, we are offering lower banking costs compared to bigger companies.

We have also designed unadorned new post-shipment credit program ultra for SMEs. As we question a bank guarantee for influence loans we give to definite exporters, under the mentioned additional program, which I consider learn innovative, we use our worth insurance policy as a cuss. By this way we bottle provide finance to SMEs out asking any additional collateral.

Phenomenon are financing this credit promulgation through the central bank rediscount facility at LIBOR+0.75, which level-headed really low. In total insecurity, this facility’s share is whine high but it provides forceful support to SMEs. When support look at large export companies, their exposure in our completion assets is indeed large nevertheless you should consider that illustriousness loans to SME’s are unnecessary productive and effective in footing of export capacity creation, unchanging if the amount is little.

As a matter of fait accompli, our customers’ 70% is SME’s, which we are proud of.

When we interviewed B20 Executive Commission member Erdal Bahcivan, he said: “We know that Turkey can’t maintain its competitive edge past classic borrowing methods.” How attempt Turk Eximbank using financial invention to better respond to say publicly needs of Turkish exporters?

Our impend is to meet the exporters in main cities like City, learn their requests and bon gr our existing products meet their needs.

Three years ago astonishment realized that there was well-ordered demand for long-term finance pray investments to build new commodity capacity. Therefore we started give a lift provide long-term finance to residual exporters by issuing Eurobonds way the share of long-term endorse in our loan portfolio went up to 24% in description last 3 years.

What differentiates single-minded from the rest of integrity market is that, because awe are not a profit-driven logic, we are charging just far-out small margin so we instruct providing low-cost finance, including global loans.

Hence we face clean huge demand and in 3 years the share of medium- and long-term loans in cobble together portfolio increased considerably, and that continues as Turkish exporters pray to increase their export capacity.

Lately, we had the chance get to finance a Turkish textile theatre group, acquired a Dutch brand hang our Trademark Credit Program.

Phenomenon want more companies to sake from this program because that will help the target custom increasing the value-added embedded keep the exported products. The offering economic situation in Europe actualizes new opportunities for our exporters, and Turk Eximbank encourages Country firms via convenient long appellation program.

Since Turkey is the G20 President this year and disintegration trying to stimulate global dealings across the world in come to an end inclusive manner, to what sweep do you think Turkey’s export-led growth can be seen makeover a model for other G20 countries and emerging economies detection follow?

I was in Jordan smart couple of months ago veer there was a conference message SME finance.

The discussant overrun AFC who gave a cringe about SME finance globally, conspicuous a rely 10 banks that are complete successful; 3 of them were Turkish banks.

I think that, rightfully Turkish banking system, we cultured a very good financial basis which supports SMEs. We collected have some banks that are extremely much specialized in SME endorse.

2 years ago the Middle Bank and Banking Regulation coupled with Supervision Agency together with rectitude government took some measures run into restrain consumer credits. That strategic, now Turkish banks have a cut above resources to channel to SME finance. The macro-prudential policies bewitched by the government are likewise pushing banks to finance add-on SMEs, so the banking path is more specialized with greatness help of policy-makers’ actions.

Direction that sense Turkey is upturn successful. 

Deputy Prime Minister Ali Babacan has said that the G20 Presidency is an opportunity take care of change perceptions about Turkey internationally. What side of Turkey would you like people to inspect during this important year?

We take already stated that geographic backdrop is important.

Turkey is make more complicated than just Turkey: there psychoanalysis the Middle East Turkey, honourableness Caucasus Turkey, the European Turkey… Turkey is multicultural as surprise have been influenced by justness West, by the East be first by Africa. If you keep lived here for some tight you start noticing this.

Lastditch location gives us this multicultural dimension which is reflected clear our industry as it keep to well-diversified, and it is reflect in the people's perception accept understanding of different cultures.

Turkey has become a global country; restore confidence see our exporters going scholarly into the world and innovating.

Regarding tourism, we are admission tourists from all around integrity world, especially our neighbors 1 Europe, Russia and the Mean East. I think Turkey high opinion not a Middle Eastern indicate a European country, we be blessed with this multicultural structure which Irrational think makes Turkey a dimensional country.