PLASFED President Ömer Karadeniz participated in the live program '30 Minutes' on BloombergHT, becoming Ece Mağat's guest. Answering curious questions about the Turkish economy, Karadeniz made statements regarding the interest rate decision, which is the most important topic on the agenda. Emphasizing that industry is an indispensable rule for a country, Karadeniz stressed the importance of production and, of course, exports.
PLASFED President Ömer Karadeniz, who participated in the '30 Minutes' program hosted by Ece Mağat on BloombergHT, stated that an interest rate cut could be seen in the first quarter of 2025 as part of the fight against inflation. Explaining that they anticipate an interest rate cut, even if symbolic, for December, Karadeniz said, “It seems that inflation is not experienced in line with the Central Bank's expectations. Although December data is not yet clear, we are falling slightly behind the targeted inflation. Generally, when inflation is projected to reach 50% annually, we can say that interest rate cuts will shift to next year.”
Karadeniz stated that the plastics sector draws attention with the added value and employment it creates for the Turkish economy, and reported that there are 55 professional groups within the Istanbul Chamber of Industry, 35 of which are in direct contact with the plastics sector.
The President of the umbrella organization PLASFED explained that the plastics industry, which registers growth in foreign trade every year, faces difficulties in accessing finance, and stated that manufacturers wishing to invest are going through tough times. Pointing out that companies struggle to sustain their assets in an environment of high inflation and high interest rates, Karadeniz said, “The inability of producers and consumers to access finance leads to contraction in many sectors. Our companies are trying to stay afloat by sacrificing profitability and investments.
Since our country does not have oil resources, we must protect our industry, which is our most important resource. We believe that public authorities will take the necessary steps regarding this matter.” he added.
Karadeniz stated that the plastics sector is a technological sector and its importance emerged during the pandemic period, reporting that plastic is present in every aspect of our lives. Noting that every sector stopped during the pandemic, but the plastics sector continued to operate, Karadeniz said, “No one should say 'I don't use plastic.' Plastic products are present in every area of our lives. It is possible to see plastic from your shoes to your hair clip, and even in glasses and contact lenses if you use them.”
The plastics sector is sensitive to the green environment
Explaining the great importance of plastics in terms of logistics, Karadeniz noted that we travel to a very distant country with aircraft covered with plastics and composites, thus saving time and cost. Emphasizing that they serve the green environment, especially regarding carbon emissions, Karadeniz underlined how important the plastics sector is for a clean world. Karadeniz stressed that the Deposit Refund System should be implemented as soon as possible, but before that, the Source Separation System should be applied, and he explained the importance of recycling for a green environment.
This content has been translated using artificial intelligence technology.