İsmail Gülle, President of the Turkish Exporters Assembly (TIM), said, “As of today, our exports until the 23rd day of June reached 9.1 billion dollars, a significant increase of 34.3 percent. At the end of June, we will announce an export figure worthy of our country.”
Gülle, in his speech at the meeting organized between TIM and Türkiye İş Bankası regarding the cooperation between TIM and Türkiye İş Bankası to support exporters, gave information about the support provided to exporters during the coronavirus process.
Stating that İşbank has undertaken a historical mission like TIM and exporters, Gülle said that the support packages announced by the government due to the pandemic in recent months are very important for exporters and meet their needs.
The partial loan guarantee of 250 million euros that Eximbank received from the World Bank, which was announced last week
Gülle pointed out that especially exporter SMEs will provide the necessary dynamism on the road to new records in exports, and noted the following:
“By increasing the volume of credit for exporters and facilitating exporters’ access to finance, companies will overcome the pandemic with minimal damage. Especially in the last two years, we have seen both volumetric and proportional increases in the banking sector’s loans to exporters. We are pleased with the sector’s interest and interest in exports.
In April 2018, banks’ export credits amounted to 116 billion TL, while the value of these credits increased by 69 percent to 196 billion TL in April 2018. This increase was driven not only by the increase in the total loan volume extended by banks, but also by the increase in the ratio of export credits to total loan volume from 5.2 percent to 6.3 percent.”
“Exporters have managed to emerge stronger from every shock”
İsmail Gülle emphasized that exporters, who are resistant to shocks and have quick reflexes, have managed to emerge stronger from every shock with the appropriate steps they take in such crisis periods, and that the banking sector, just like exporters, has a structure that has quick reflexes and emerges stronger from every crisis.
Stating that this fact has become more evident with the currency attacks, trade wars and the coronavirus pandemic in the last 2 years, Gülle continued as follows:
“New records broken in exports, increasing credit volumes and healthy balance sheets in the banking sector prove Turkey’s strength in both areas despite all these challenging conditions. As of today, our exports until the 23rd day of June reached 9.1 billion dollars, a significant increase of 34.3 percent. At the end of June, we will announce an export figure worthy of our country. With our new generation trade diplomacy activities, we are focused on the goal of ‘Turkey with foreign trade surplus’ with a greater belief than ever before.”
Gülle, reminding the work they did during the coronavirus process, participation in virtual fairs and the number of these fairs
will increase further in the coming period.
“Women entrepreneur exporters received more advantageous conditions in loans”
TIM President Gülle, while mentioning the details of their cooperation with İşbank, said:
“Within the scope of our cooperation with İşbank, exporters will be offered a total cash loan package of 500 million dollars in TL and foreign currency. Within the scope of the cooperation, it is a very important step for us that the loan interest rates are low, positive discrimination is applied for women exporters, and the scope of the package is realized as 500 million dollars.
Within the scope of the protocol we will sign today, exporters will be offered loans up to 1 million TL or 150 thousand dollars or euros, with interest rates starting from 8.4 percent in TL loans and 1.05 percent in foreign currency loans, and maturities up to 24 months. Within the scope of the package, more advantageous conditions have been created for loans to be used by women entrepreneur exporters in order to ensure positive discrimination.”
“Maximiles TIM Exporter Card” for Exporters
İsmail Gülle said that another advantage that exporters will benefit from will be in fair participation credits, and that both physical fairs and virtual fairs are included in the scope of the fair credits to be provided with the package.
Gülle continued as follows:
“With the package, in virtual and physical fairs, up to 100 thousand dollars or euros up to 1 year maturity export commitment spot foreign currency loans
interest rates will be 2.25 percent for dollar-denominated loans and 1 percent for euro-denominated loans. e-letter of guarantee,
4 percent annual interest will be charged and a very low commission of 0.9 percent will be collected. Under the protocol,
Other advantages include a 10 percent discount on commodity transportation insurance, advantageous interest rates in correspondent-guaranteed export factoring, and a 50 percent discount on Worldef prime membership.
With the Maximiles TIM Exporter Card, exporters will earn extra points in their transactions and benefit from various advantages in hotel and airplane reservations, airports and certain businesses. The donation of books for the library at the Foreign Trade Complex is also included in the package as an important gesture of İşbank.”
“We kept our interest rates at the lowest possible level for our exporters”
Adnan Bali, General Manager of İşbank, stated that they provided strong support to exporters in cooperation with TIM with the aim of creating a strong Turkey in international markets.
Bali said, “With the responsibility of being Turkey’s bank, as an institution that always exhibits its national attitude and stance without hesitation, we continue to resolutely offer all our facilities to the service of our country and nation with a well-intentioned and sincere approach.”
Emphasizing that exports, which play a critical role in the growth of the country’s economy, are also of great importance in getting out of the difficult period, especially during the pandemic, Bali made the following assessments:
“As the Bank, we are focusing on this area with a special concentration. We are implementing many actions to reduce the effects of the pandemic on employment, production, trade and payment systems and to ensure the continuity of economic activity. In addition to our ongoing economic support packages, we offer maturity and payment options suitable for every need for export financing with the protocol we signed with TIM today. Within the scope of the protocol, we have kept our interest rates at the lowest possible level to support our exporters. We believe that the low interest rates we apply in export foreign currency credits are critical not only for our exporters but also for all segments of the economy.”
“We will continue to provide support to strengthen Turkey’s position in exports”
Adnan Bali stated that the uncertainties regarding the course of the pandemic brought with it the risk that foreign demand may continue to present a fragile outlook for a while, “However, we anticipate that our export performance will strengthen in line with the conditions in the second half of the year.”
Stating that countries may focus on working with nearby geographies and more boutique manufacturing in the normalization process after the Covid-19 outbreak, Bali said that Turkey can benefit from this conjuncture, that it can reach a market that constitutes a significant portion of the global trade volume with a short flight distance due to its geographical location, and that it has a high potential with its young, dynamic and fast structure.
Stating that Turkey is a reliable supplier in a period when countries are closed inward to a certain extent, and that its existing industrial infrastructure and labor capacity are sufficient, and that it already has a flexible structure in finding new markets and managing production processes, Bali said, “We think that as a country, we can come on the scene as an important candidate for the supply of many goods and services in the coming period. As İşbank, we will continue to provide support that will strengthen Turkey’s position in exports.”
Special cards for exporters
According to the information provided, within the scope of the protocol, Maximiles TIM Exporter Card and Maximiles TIM Exporter Card Premium cards will be made available to exporters.
With the cards, which include the TL/euro/dollar statement option, exporters will earn both MaxiMiles and MaxiPoints for their purchases. They will also earn additional MaxiPoints on the monthly export volume they realize through İşbank and exporters will be able to use these points as MaxiMiles.
Maximiles TIM Exporter Card includes many important and distinctive privileges that will make exporters’ lives easier, from hotel reservations to visa procedures.
Source: https://www.aa.com.tr/tr/ekonomi/tim-ve-is-bankasindan-ihracatcilar-icin-is-birligi-/1887959
