W ITH A POPULATION OF 82 MILLION, 800 billion dollars of domestic product, productive and dynamic people, Turkey has the world's 17th largest economy. We have emphasized many times as the entire business and export family, especially our President that this is not enough, we want our people to be more prosperous and Turkey to be a more developed country and our economy should be among the top ten economies in the world. It is a fact that difficult times are experienced in many economies with the problems experienced in international trade and the reshaping of the global political order. On top of it, we were faced with moves that directly targeted our country. For example, in August 2018, we witnessed a heavy attack on our country through exchange rates. But the biggest threat to us was the July 15 treacherous coup attempt three years ago.
Turkey's democracy continued on its way with the epic heroism of its people. Now everyone has to realize that Turkey is not the same country before the 15th of July. There is no power to turn this nation, repulsing the coup with their hands and counting on martyrdom as an honour, out of its way.
We, the exporters who are the field soldiers of Turkish trade diplomacy, know it very well that this nefarious venture directly targetted Turkey which is developing and growing. 15th of July should always be remembered as a day of National Unity. We, as TİM, in this year's commemoration ceremony, planted saplings in TİM Democracy and National Unity Nursery in memory of 15th of July martyrs. A plane tree was planted for each of our heroes who martyrised unblinkingly on behalf of Turkey's unity and survival. Next to the trees, plaques with a square code containing the life stories of our martyrs were placed. As TİM, we started to work in 2019 with the vision “Turkey Having Foreign Surplus”.
Every month, our exporters set new records. We crowned the first half of the year with exports over $88 billion. We aim to reach $200 billion at the end of the year. While working on this path, we are aware that our government is backing us until the end. With President Recep Tayyip Erdoğan and Minister of Trade Ruhsar Pekcan, last month, we made trips to Japan and China for high-level contacts. During the G20 Summit held in Osaka, Japan, and the bilateral meeting between President Erdogan and US President Trump, it was decided to increase the previously determined foreign trade volume target of 75 billion dollars to 100 billion dollars. As TİM, we are ready to support this goal with all our strength. Accordingly, we have published a comprehensive report. In 192 items, we evaluated the products that could increase our exports in the short term. Their common feature is that our country has a competitive advantage while exporting these products and they are imported by the USA intensively. It was analysed which product comes to the fore in which state in detail in our report. On the other hand, our contacts in China were very successful. By EXPO 2019 Turkey National Day in Beijing, we had the opportunity to reflect our culture as well as the development of trade between countries.
While emphasizing that our country attaches great importance to production, cooperation and sharing concepts with valuable work of Turkey Promotion Group and with the theme “Embrace the Future with Green”, we as Turkey, aim to reflect our determination to take a leading role for a greener, more livable and sustainable world. The performance we put in the international arena is also supported in Turkey, which is also an indication of how much trust is given to the exporter. One of them is the amendment to the General Communiqué on Customs. Accordingly, the limitation on the import of goods with a maximum of 5 stock certificates by means of fast cargo has been lifted for legal entities. In the name of sustainability of our exports, it is an important regulation that will contribute to the achievement of our targets with the same dynamism, especially the incoming samples, and allows the free circulation of goods that will be transformed into orders, production and export. Another important development that will ease us came from the Central Bank of the Republic of Turkey. The CBRT's rate cut of 425 basis points is an important step that will soon be reflected in the financing activities of the real sector. The interest rate cut occurred at the right time in terms of the competitiveness of our exports of goods and services. In the first place, we propose that it will boost the market in August, September and October and provide a rapid reflection on economic growth. With the exchange rate stability to be achieved, the contribution of exports of goods and services to economic growth will continue exponentially. This step will accelerate the transition of Turkey's economy from offset to the sustainable growth process. The 11th Development Plan, which was announced last month and focuses on 2023, the centenary of our republic, has made greater reference to and export duties than ever in any planning. Our country is fully aware that exports are indispensable for sustainable growth. We, as exporters, are aware of the duty that has been given to us. We will continue to work with all our strength to exceed the 2023 targets of Turkey..