What matters on Monday, November 1

President Recep Tayyip Erdogan met the U.S. President Joe Biden on the sidelines of the G20 Rome summit held in the weekend. Erdogan said that the U.S President Joe Biden showed a positive attitude about the sale of F-16 fighter jets to Turkey. “The issue of modernizing the existing F-16s or getting new ones came to the fore during the meeting with the U.S. President Biden. Our defense ministers are following the process,” Erdogan told reporters at the press conference held after the one-hour closed-door meeting between the two leaders. Erdogan and Biden discussed Syria, Afghanistan, Libya, Eastern Mediterranean and South Caucasus issues, according to a statement from the White House. Erdogan also met with the leaders of France, Germany, and the European Council on the sidelines of the G20 Rome summit.

President Erdogan, who supposed to attend the COP 26 UN Climate Change Conference in Glasgow following the G-20 Summit, returned to Turkey, due to protocol issues, according to Reuters.

Looking at the domestic agenda, the Parliament will discuss the Law on the Foundation and Duties of the Turkish Exporters Assembly (TIM) and the Exporters’ Association and amendment of some laws. A regulation will be made in order for Ihracati Gelistirme AS, which was established by TIM and Turk Eximbank with their own resources to develop exports, to receive necessary capital contribution from exporters associations. The Parliament’s Planning and Budget Commissions will continue to work on 2022 budget this week.


Istanbul Chamber of Industry (ICI) Turkey Manufacturing Purchasing Managers Index (PMI) declined from 52.5 to 51.2 in October, compared to the previous month. The decrease mainly stemmed from fluctuations in foreign exchange rates.

Istanbul Chamber of Commerce (ITO) will release the retail and wholesale prices in Istanbul for October (12.00 pm). Retail sales annually surged by 19.77% in Istanbul in September.

Trade Minister Mehmet Mus will announce foreign trade figures for October (2.00 pm).

The Banking Regulation and Supervision Agency (BDDK) will release the banking sector report for September (2.00 pm).


>> On the cover: You can read an interview with Auguste Tano Kouamé, World Bank Country Director for Turkey. Our daily DUNYA correspondent, Elif Karaca, asked how Kouame sees the CBRT decision. The Central Bank’s policy rate cut despite high inflation resulted in negative real interest rates and rising policy uncertainty among investors, he told Karaca. You can read the details on pages 14-15.

>> Professor Ilter Turan: When foreign and domestic policy collide. P. 10.

>> You can also read the interview with Ali N. Basman, President of the Wine Producers Association, in our Q&A page, who says Turkey has the potential to increase its wine exports 50-fold through an incentive program. P. 11.

>> Diplomacy: Brussels government visits Turkey for 20th year of bilateral trade. P. 12.

>> Report: Turkish and German SMEs to collaborate in third countries. P. 16.

>> Zeynep Gurcanli: The crisis isn’t over. P. 18.

>> Energy: Share of natural gas should be reduced: Zaimler. P. 22.

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