Turkiye's path to global leadership in high-tech exports

On Tuesday, Albayrak Medya hosted the "Türkiye Century Summit in Exports" where many representatives from key export sectors attended. Discussions at this significant summit revolved around topics such as exports, economic policies, development, and the international course of trade.

Türkiye's geographical location, its increasingly central status between energy-supplying and energy-demanding countries, its proximity to Asian countries that have taken control of production worldwide, its proximity to European countries that many countries target for exports, and many other advantages position it as an important country with potential to excel in exports.

It is a fact that export-oriented economic growth model that started in the 1980s has significantly contributed to the Türkiye's economy.

Türkiye, which exports to many countries around the world, is at a stage where increasing the quality of exports, i.e., increasing the quantity of high-tech products, has become more important alongside increasing the quantity of exports.

Therefore, it is important for Türkiye to achieve high-tech exports in sectors that have a strong contribution to the economy, just as it has achieved success in other sectors.

HIGH-TECH PRODUCT EXPORT IS CRUCIAL

Here's why:

Increasing the export of high-value-added, high-tech products will multiply the quantity of exports. This will mean less foreign trade deficit and low current account deficit.

Increasing the volume of high-tech exports will not only bring competition with the world but will also accelerate production increase and employment increase in many sectors. Most importantly, it will be an important reason for the retention of skilled labor force in the country. This breakthrough may even make Türkiye an important attraction center for skilled labor force from abroad.

Increasing exports and increasing the current share of global trade, which is currently 1 percent, can only be achieved through high-tech product exports. An increase in the country's share in global trade is an important advantage in terms of economy, politics, foreign policy, and many other aspects.

Reducing the current account deficit and thus keeping the possible resources that will go to the current account deficit in the country and transferring the resource to different areas in the country, such as education, infrastructure, transportation and logistics, and areas that will increase production, will bring new important sectors.

These initiatives and steps will undoubtedly contribute significantly to Türkiye becoming one of the leading countries in exports.