President Recep Tayyip Erdogan announced the 2053 Transport and Logistics Master Plan after the Cabinet meeting yesterday. As part of the plan, Turkey will attach particular importance to rail transport investments and increase the share of railway transport in total passenger transportation.
The hike in metal prices has paved the way for fraud. The China-based Inner Mongolia Junsai Chemicals swindled three Turkish firms with a promise to sell metals below the market price, according to daily DUNYA. More than 10 Turkish companies sent an e-mail to the Office of the Commercial Counsellor of the Turkish Embassy in Beijing and demanded an investigation of the Chinese company. The Office of the Commercial Counsellor has already notified the relevant chamber of commerce in China.
Central Bank Governor Sahap Kavcioglu and Turkish Exporters Assembly (TIM) President Ismail Gulle convened with export representatives. They are discussing an increase in the share of export revenues to be sold to the Central Bank from 25% to 40%, according to sources familiar with the matter. Sources also said the Presidency and the Treasury and Finance Ministry will be involved in this process before the Central Bank takes any further steps.
The number of Russian tourists visiting Turkey may fall to 2 million in 2022, which can be considered a ‘good’ number considering changing geopolitical conditions, according to Maya Lomidze, Executive Director of the Association of Tour Operators in Russia (ATOR). Speaking to daily DUNYA, Lomidze said airline transportation is the biggest obstacle for Russian tourists and it should be supported by affordable prices. Lomidze also stated that 4.7 million Russian tourists visited Turkey last year and 80% of them were customers of tour operators.
Turkey’s benchmark stock index broke another record at yesterday’s close. Borsa Istanbul gained 0.6% to close at a new record high level of 2,463.76 points, after hitting a fresh intraday all-time high of 2,474.70 points. Starting the day at 2,449.34 points, the BIST 100 index increased 14.65 points from Monday’s close of 2,449.11 points. The total market value of the BIST 100 was more than TRY 2tr by market close, with a daily trading volume of over TRY 60.4bn. The Russia-Ukraine crisis is positively affecting the collaboration between Turkey and the West, and political and geo-strategic developments are expected to have a positive impact on the BIST 100 Index, according to Soner Kuru, Assistant General Manager of Marketing at Marbas Menkul Degerler AS.
The overall export unit value index increased by 9.5% and the overall import unit value index jumped 36.5% in February, compared to the same month last year, according to the Turkish Statistical Institute (TurkStat). The overall export volume index rose by 14.5% and the overall import volume index surged by 5.9% in the same period.
The Economic Coordination Council will convene under the presidency of Vice President Fuat Oktay (3.30 pm).
Parliament will discuss some legislative proposals about the approval of international agreements.
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Our Tourism Columnist Fehmi Kofteoglu examines the effect of ruble trade on the Turkish tourism industry.