Industrialists call on world to trust Turkish economy

ANKARA

Turkish industrialists have launched a major international newspaper campaign to support the country's economy.

The Turkish Industrialists' and Businessmen's Association (TUSIAD) took out advertisements in newspapers in Germany, France, the U.K. and the U.S. on Monday, aimed at boosting the perception of Turkey following the July 15 coup attempt.

Turkey's government has repeatedly said the deadly coup plot was organized by followers of U.S.-based preacher Fetullah Gulen.

Headed "Defending The Democratic Constitutional order in Turkey," the ad says the coup plotters failed thanks to the mobilization of all segments of society – people, political leaders and institutions.

TUSIAD called on the world to trust the Turkish economy following the failed coup bid.

The advertisement says that interventions against democracy can only be prevented by further raising "democratic standards and strengthening the rule of law".

TUSIAD recalled the country’s EU membership’s negotiations, saying: “By starting negotiations with the EU in 2005, Turkey showed it was well and truly on this path.

“The democratic standards of the EU and the accession process have been among the most effective sources of Turkey's strong democracy and global competitiveness."

In the ad, TUSIAD emphasized that Turkey is the world's 18th largest economy, fully integrated into global markets.

”Beyond Europe, Turkey is an indispensable member of the transatlantic community, economically, politically and institutionally," the businessmen said.

TUSIAD praised with Turkish economy, saying: “Despite the global economic crisis and increased geopolitical risk, the Turkish economy has displayed resilience.”

“Turkey hosted three million refugees and with its young and dynamic population, has sustained relatively high and stable growth,” the organization said.

“Fiscal discipline and the strength of the banking sector have been, and will continue to be, the fundamental elements of Turkey's economic stability," the top businessmen added.

The business leaders said that Turkey has clearly proven the breadth of its nationwide commitment to democracy.

“We are confident that Turkey will continue to demonstrate the resilience of its democracy and its commitment to the rule of law. TUSIAD is and will continue to be an earnest supporter of these universal principles and goals,” they added.

TUSIAD members represent 85 percent of Turkey's total foreign trade (excluding energy), around 50 percent of private sector employment and 80 percent of total corporate taxes.