The Relationship between Industrial Policy and Current Account Deficit on the Agenda of Sabanci University - TÜSİAD Competitiveness Forum

Sabanci University – TÜSİAD Competitiveness Forum (REF) held a seminar titled “The relationship between Industrial Policy and Current Account Deficit” on May 16th 2012.

In the seminar organized under the assumption that the current account deficit caused by structural problems will remain important in the foreseeable future, the relationship between industrial policy and current deficit was discussed.

Mr. Nezih Barut, the president of the Sectoral Policies Committee of TÜSİAD, Dr. İzak Atiyas, Director of  the Sabancı University – TÜSİAD Competitiveness Forum, and Prof . Dr. Mehmet Baç, Dean of the Faculty of Arts and Social Sciences of Sabancı University made the opening speeches of the seminar.

Mr. Nezih Barut stated that observing the growth rate of energy demand of Turkey is currently higher than growth rate of its economy, the problem of current deficit is becoming a concern under the joint responsibility of the Ministry of Energy and Natural Resources and the Ministry of Science, Industry and Technology. Mr. Barut noted that oil and natural gas exporting countries achieve growth rates much higher than developed countries average thanks to high levels of their foreign trade and current account surplus.

Mr.  Ömür Demir Kızılarslan General Director of the Economic Research and Assessment of the Ministry of Economy made a presentation on the relationship of micro reforms and current account deficit.

The seminar included also a panel discussion titled “The relationship of Industry Policy and  Current Account Deficit”, moderated by Mr. Agah Uğur President of the Industrial Policy Forum of TÜSİAD.