Türkiye Economic Symposium - TES 2024
Organized in cooperation with TÜBA and Bursa Uludağ University, Central Registry Agency's (MKK) Türkiye Economic Symposium (TES 2024) was held with the main theme of “Structural Transformation and New Industrialization Policy”.
TES 2024 was organized to evaluate the current challenges that are likely to deeply affect the global economy and national economies, and to develop recommendations in the context of the new industrial policy by analyzing the real sector and industrialization-oriented problems of the Turkish economy with scientific methods in light of its level of development. In this context; Current Challenges for New Industrialization Policy, Lessons from Successful Industrialization Experiences, Technology Adaptation and Innovation Capability, Financing of New Industrialization Policy, Structural Transformation in Türkiye and New Industrialization Policy issues were discussed.
The program, opened with the speeches of TÜBA President Prof. Muzaffer Şeker and Bursa Uludağ University Rector Prof. Ferudun Yılmaz, and was attended by representatives of public institutions and organizations, researchers, university academic and administrative staff, students and invited guests.
TÜBA President Prof. Muzaffer Şeker stated that although the theme of the symposium was chosen as “Structural Transformation and New Industrial Policy”, his speech was more concerned with the distortions and injustice in the global economic and financial system, and said that although today's global economic order seems to promote growth and development, it has actually become a source of serious injustice and imbalance for the masses.
Stating that globalization has built a system based largely on international capital movements, Şeker said that it provides the most benefits to powerful economies and large capital owners, while low-income countries and segments of society are largely excluded from this cycle. He emphasized that the aforementioned system deepens the gap between the rich and the poor, and causes economic inequalities to grow even more around the world.
The unlimited growth objective imposed on humanity by the system consumes nature and resources irresponsibly and rudely.
President Şeker continued as follows: “There is a similar distortion in the system. Global financial markets have repeatedly plunged the world economy into crisis by taking huge risks for the sake of short-term gains; yet ordinary people have mostly paid the price of these crises. The control of the financial system by a few big players acting in their own self-interest is a major obstacle to financial fairness and transparency. This means that the system is structurally unsustainable and is in need of a fundamental transformation. This transformation is also necessary to leave a livable world for future generations. Because the unlimited growth target imposed on humanity by this system consumes nature and resources irresponsibly and rudely.”
Pointing out that excessive production and consumption for this purpose leads to the deterioration of ecological balance, climate crisis and environmental destruction, Prof. Şeker underlined that the world is faced with an economic structure that puts the future of nature at risk for the sake of short-term gain.
He continued his speech by saying that we should aim to spread economic growth fairly to all segments of society, not only for the benefit of certain segments, and concluded by stating that a fair global economic order should be built by taking fundamental issues such as the sharing of economic resources, transparency and inclusiveness of the financial system into consideration.
Speaking at the opening of the program, Ekrem Arıkan, General Manager of Central Registry Agency (MKK), said that Borsa Istanbul operates the market and intermediates trading, Takasbank provides financial settlement, and MKK, a financial infrastructure and technology company, records the data of all markets and provides dematerialized custody services. Stating that they offer corporate governance services, Arıkan said, “We are an example for the whole world in the Public Disclosure Platform. We are one of the best implementing markets and countries in the world. We have a general assembly system. We have even exported this system to the Indonesian Capital Market and it is being used. It is being used in Türkiye since 2012 and will be included in the OECD's report as one of the top 5 best practices in the world.”
