Ömer Karadeniz, Chairman of the Board of Directors of the Plastics Manufacturers Federation (PLASFED), stated that industrialists are struggling to maintain their production due to high interest rates and difficulties in accessing credit, which directly limits their export capacity. Emphasizing that Turkish industrialists are struggling with difficult conditions and financial obstacles, Karadeniz said, “If concrete steps are not taken to clear the path for our sector, both our production and export targets will be under serious risk.”
Ömer Karadeniz, Chairman of the Board of Directors of the Plastics Manufacturers Federation (PLASFED), stated that difficulties in accessing finance and the need for a skilled workforce are seriously hindering the sector, and called on authorities for an urgent solution.
Karadeniz drew attention to the financial obstacles faced by the Turkish plastics industry, especially those competing with international markets. Karadeniz stated that high interest rates and difficulties in accessing credit make it difficult for industrialists to both maintain their current production and plan their long-term investments, adding, “Industrialists cannot realize new machinery and technology investments and are forced to postpone R&D projects because they cannot access finance. This situation not only affects production but also directly limits Turkey’s export capacity and weakens our competitiveness in global markets.”
Macro data confirms the picture experienced by industrialists
Karadeniz stated that the recently announced economic indicators also support the situation experienced by industrialists, saying, “The manufacturing industry PMI data announced in September remained in the contraction zone again; this shows that the slowdown in production continues. In the same period, the realization of CPI’s annual basis at 33.29 percent reveals that the cost pressure on producers has not decreased. When high inflation is combined with fluctuations in energy and raw material prices, the burden on industrialists becomes even heavier. Therefore, there is a need for a holistic policy approach that prioritizes not only access to finance but also macroeconomic stability. For industrialists to breathe, steps to reduce production costs, encourage investment, and strengthen the environment of trust must be taken as soon as possible,” he said.
Investment and production plans are postponed
Explaining that industrialists face great difficulties in sustaining their production due to high interest rates and problems in accessing credit, Karadeniz stated that industrialists are facing serious risks not only in daily production processes but also in long-term strategic planning. Karadeniz noted that businesses unable to access finance are forced to postpone investment and production plans, stating, “R&D projects are being suspended. As a result, Turkey’s export capacity is shrinking, and our competitiveness in global markets is gradually decreasing. If urgent and comprehensive solutions are not brought to these problems, our sector will face serious losses.”
“Turkish industrialists maintain their resilience”
Drawing attention to the increasing number of concordat applications, the Chairman of the umbrella organization PLASFED stated that structural reforms and financial support to clear the path for industrialists are now at an undeniable level. Karadeniz noted that steps to be taken in cooperation with the state and the private sector will strengthen both the production and export capacity of the sector, adding, “Despite the difficulties, Turkish industrialists maintain their resilience. However, strong cooperation between the state, the financial sector, and industrialists is essential to look to the future with confidence.”
This content has been translated using artificial intelligence technology.