Minister Bolat Unveils Ambitious Export Action Plan

(MENAFN- AzerNews) By News Centre

Trade Minister Ömer Bolat has unveiled the 2025 Export Action Plan, announcing that this year, exporters will receive ₺ 33 billion ($0.93 billion) in support. Bolat also addressed the visa issues faced by exporters, revealing plans to issue green passports to 8,500 exporters in 2025.

Minister Bolat highlighted that the cost of rediscount credits was reduced by 6 points at the beginning of the new year, bringing the export rediscount credit financing cost down to 29.9%.

"The cost of export financing will be further reduced next month, and we will receive good news about a new reduction in financing costs," he added.

The Trade Minister also mentioned that Turkish Eximbank is expected to provide $50 billion in financing support, while the Turkish Trade Bank will offer ₺ 200 billion ($5.6 billion) in 2025. Additionally, the Export Development Inc. (IGE) is projected to increase its capacity by ₺70 billion ($2 billion) with new guarantee support packages, aiming for a cumulative credit guarantee support of ₺160 billion ($4.5 billion) by the end of the year.

During a meeting at the Turkish Exporters Assembly (TIM) Foreign Trade Complex, Bolat outlined the 77-item 2025 Export Action Plan, which was prepared in consultation with all sector stakeholders and leading NGOs in the country. The first section of the action plan focuses on Support and Price Stability Fund (DFIF) supports, the second on support mechanisms and improvements for goods exports, the third on support for service exports, the fourth on trade diplomacy and multilateral regional bilateral relations, the fifth on measures to be taken at customs to facilitate exports, and the sixth on export financing. Bolat emphasized their goal of achieving $390 billion in goods and services exports in 2025.

Bolat reminded that the ministry's budget has been increased to ₺56 billion (1.6 billion) in 2025, with ₺33 billion ($1 billion) allocated as DFIF supports for goods and services exporters.

"We estimate that around 28,000 exporters will benefit from these supports. We have utilized all our resources to ensure exporters' access to finance. The Eximbank capital, which was ₺13.5 billion ($0.4 billion), has been increased fourfold to ₺55 billion ($1.5 billion) in 18 months," he said.

Minister Bolat pointed out the decline in inflation, stating that inflation is starting to decrease. "Hopefully, within a few months, we will be talking about inflation rates in the 30s. We will fall below 40%. By the end of the year, the target is 21% CPI inflation. As price stability is achieved, the growth rate will increase," he said.

Minister Bolat also provided information on the visa issues faced by exporters. In 2024, 8,562 exporters were issued green passports, bringing the total number to 27,192. He announced plans to issue green passports to 8,500 exporters in 2025.

Minister Bolat stated that this year, they will organize 269 trade delegation programs and 85 procurement delegation organizations.

"We will support our exporters with participation in 65 domestic fairs, 330 international fairs, and 1,650 individual fair participations. We will also include 63 brands from 61 new companies in the Turquality program, aiming to support a total of 380 brands from 355 companies," he said.

TIM President Mustafa Gültepe also had a speech at the meeting, noting that they had left behind a challenging year for producers and exporters.

"I believe that policies supporting more production and exports will be implemented in 2025, and the hardest part is behind us. Despite the difficulties of the past year, we achieved a good figure of $262 billion in exports. Our target for 2025 is $280 billion. I believe that policies supporting more production and exports will be implemented. The support provided by Eximbank and the Turkish Trade Bank in the last 1.5 years has increased our hopes for financing," he concluded.

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