In his speech, Mr. Yayan discussed the developments in the Turkish economy, its place in the world steel industry, capacity utilization rates, steel production and consumption and said: "As everyone knows, the Turkish economy is among the economies that are growing steadily. When we look at the last ten years, the gross domestic product has been growing steadily. This growth varies between 3% and 10%. Among the sectors that support the growth of the GDP, the steel industry has a special place." He emphasized the importance of the steel sector in the growth of the Turkish economy.
In addition to the importance of the steel industry, he stated that the steel industry does not show regular growth when it comes to gross domestic product and that the change in these growth rates is affected by global and national policies. “Global and local reasons such as the extraordinary increase in energy costs after Russia's invasion of Ukraine, as well as the 50% increase in energy prices overnight in August, as well as the economic bureaucracy in Türkiye, affect the growth rate of the steel industry.”
Pointing out that in 2024, Türkiye showed a growth rate of 9.4%, contrary to the developments in the world, Yayan stated about the other sectors that contribute to the growth of the steel industry: "The manufacturing sector makes a great contribution to our development. The manufacturing sector, which consumes a lot of steel, showed limited growth for the first time in 2024. We believed that the manufacturing sector would achieve more optimistic results in 2025, but the political developments in Türkiye have made the work of the economy and bureaucracy very difficult, and as a result of the economic fluctuations, a foreign exchange reserve of 55 billion dollars has melted. Thanks to the appropriate interventions of the central bank and the finance ministry, Türkiye's foreign exchange reserves seem to have started to increase again. As of the second half, we expect these interventions to result in improvements in consumer sectors such as the construction sector and the automotive sector."
Touching on the new trade policies of the Trump government and the European Union, Yayan stated that EU quotas and Trump tariffs will ensure competition on equal terms and that they are considered as a positive development.He stated "How Türkiye's exports will develop in the coming months depends on how Trump's policies will develop. With Trump's fluctuating tariffs on China, the EU's similar decisions are a bargain that is not based on principle. Türkiye seems to be neither advantageous nor disadvantageous in this bargain.".
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