'Exchange Risk' Panel for Exporters
In cooperation with Turkish Exporters Assembly (TİM) and the Turkish Capital Markets Association (TSPB), the webinar on “Exchange Risk Management for Exporting Companies” was organized. The online panel is aimed at informing and raising awareness of exporter companies at risk of exchange rates.
TİM Chairman İsmail Gülle, “Türkiye has once again proved how strong its industrial and commercial potential is with its achievements in exports during the economic crisis brought by the global pandemic. Hopefully, this year we will reach the goal of 184 billion dollars and further goals collectively. To make the increase in our exports sustainable, high value-added products, the right sector selection, increasing diversity in target markets, as well as strategic financial management stand out as a must-have title.” he said.
Turkish Exporters Assembly (TİM), the only umbrella organization of 61 Exporters' Associations with 27 sectors and 100 thousand exporters, is also working multi-faceted within the scope of facilitating access to financing and reducing costs for the export family entering 2021 with a record. TİM continues online panels with themes that can produce solutions to the needs of the exporter. Through the webinar, it is aimed to inform and raise awareness of the employees of exporter companies, investors, and those interested in the issue. The opening speeches of the three-session online panel were made by TİM Chairman İsmail Gülle and TSPB Chairman Tevfik Eraslan.
“This year we will reach the goal of 184 billion dollars together”
TİM Chairman İsmail Gülle emphasized the successful performance of the export family in 2020 despite all the negatives brought by the global pandemic. Noting that they reached the highest quarter export figure in the history of the Republic with exports of 51.2 billion dollars in the last quarter of the year, Gülle said, “We achieved to close the year together with exports of 169.5 billion dollars, above the target we set. In 2021, our upward momentum in exports continues. We reached the highest January export figure in the history of the Republic by exporting 15 billion 48 million dollars with an increase of 2.5 percent. Türkiye has once again proved how strong its industrial and commercial potential is with its achievements in exports during the economic crisis brought by the global pandemic.”
“Stability and sustainability are important for the continuation of successes”
İsmail Gülle drew attention to the importance of the titles 'Stability' and 'Sustainability' to maintain the records recorded in exports in a period when uncertainty in the global economy peaked. Stating that for the steady increase in exports to continue, it is necessary to be resistant to negative factors such as financial and sectoral problems and fluctuations in currencies Gülle said, “High value-added production, choosing the right sector, increasing diversity in target markets, as well as strategic financial management is an indispensable topic for us. Under the leadership of our Ministry of Commerce, we are working intensively on all these issues. The two currency fluctuations in 2018 and 2020 once again revealed that our companies should focus on financial management sensitively. It is essential for all our exporters, especially the companies operating in the production sectors with high import input, to have a good command of financial instruments such as options markets and future-forward transactions. Only in this way can we minimize the exchange rate loss due to fluctuations in the exchange rate.”
“We aim to raise awareness among employees and investors”
TİM Chairman İsmail Gülle added: “Companies should increase their knowledge and their consciousness against crises in financial management. It is very important to be able to use Hedge methods in the face of fluctuations in exchange rates, especially in terms of not disrupting their production and not damaging the image of reliable suppliers. For this reason, we are holding the 'Exchange Risk Management' panel this year, as we did last year, to raise awareness among export sector employees and investors. We will continue our webinar series, which we started with the 'Exchange Risk Management' panel in 2021, with themes that can produce solutions to the problems and needs of our exporters.”