I would like to start my article by wishing you healthy, fruitful and active days, dear friends.

I have had a habit of mentioning current data about our sector in every article for years. Now, when I look at the latest published data, I feel a sense of Deja Vu. As you know, Deja Vu is the feeling of experiencing a familiar moment, where you feel like you have experienced an event or situation before.

Look, the ISO Turkey Manufacturing PMI (Purchasing Managers Index) that I always refer to was 48.0 in January and became 48.3 in February. In every article I have been writing for about a year, I have been reporting that the index in this important indicator is below the threshold value of 50.0. When I look at new orders, I see that it has been slowing down for 20 months in a row. Here is Dejavu for you.

While reiterating the data of the industrial sector, it is also striking that the situation information and demands that sector representatives like us have been announcing for months are repeated. The statement made by our friend Seyit Ardıç, the President of Ankara Chamber of Industry, a short while ago is almost a repetition of our previous statements:

“Structural reforms should be implemented without delay along with rational economic policies to re-accelerate the industrial sector. We need to create a stronger industrial ecosystem in collaboration with the private sector and the public. However, risks such as high inflation, difficulties in accessing financing and disruptions in global supply chains need to be closely monitored. At this point, it is critical to implement the support mechanisms that our industry needs and produce permanent solutions.”

On the other hand, the interest rate cuts of the Central Bank are one of the topics that attract the most attention in the economic world. The bank reduced interest rates by 7.5 points in three separate meetings and brought the policy rate down to 42.5. The business world, which constantly emphasizes the high interest rates, is wondering why interest rates have not decreased.

TOBB President Rifat Hisarcıklıoğlu could not resist and made the following justified statement on this matter:

The Central Bank policy rate has decreased by 7.5 points in 3 months. Banks immediately reflect these reductions on deposit rates. However, commercial loan rates are not decreasing at the same rate. What are banks waiting for to reduce commercial loan rates? We expect them to primarily reflect this reduction on SME loan rates and support production, investment and employment.”

Finally, as in every issue, I would like to share a new topic that we are proud of. Our COSB has become the first organized industrial zone to join the Digital Badge Platform of the Ministry of Industry and Technology, making a first in Turkey. With this innovation, certificates for trainings received at ÇOSB Academy will now be presented through digital badges. This will add a modern and prestigious dimension to trainings. The digital badge has been implemented as a contemporary application that allows participants to display their competencies, trainings and achievements as a digital identity. Our digital badge trainings will continue to follow each other.

I wish all our friends healthy, fruitful and happy days, hoping that the good news and decisions that our industrial sector has been waiting for will come in the spring of 2025.

Eyüp SÖZDİNLER
COIZ Chairman of the Board