Constitutional change is a must for Turkey, says Sabancı chair

Sefer Levent JAKARTA

Sabancı Holding Chairperson Güler Sabancı.

Turkey has been in a transition period, but now we need to change our constitution together, Sabancı Holding Chairperson Güler Sabancı said at the opening ceremony of the new Kordsa plant in Indonesia on Jan. 13.

Sabancı also noted that there are both challenged and opportunities facing the Turkish economy right now, which all need to be assessed very carefully.

“We are in the middle of a transition period after a long election period. Turkey elected a president in a referendum for the first time. Turkey has a parliamentary system. I believe now all parties, the ruling party and the opposition parties, must focus on changing the constitution together,” she said, adding that the "harmonious work" between the president and the prime minister was a good thing.

“The system keeps working thanks to the harmonious work between them. However, when considering the system, we need a constitutional change,” she added.

Sabancı also said the plunge in oil prices is good for the Turkish economy and the country must take advantage of this, but the world economy will lose $100 billion in cash as long as the oil prices stay around $55-60 per barrel.

“This is a threat for the world economy. The Fed’s expected move to end the high-liquidity party will affect emerging markets negatively as well,” she said.

“Our southeastern region has long been tired and wants more development and peace … I believe Turkey will take many steps on the road to social peace and economic development this year,” she said.

Sabancı Holding plans to make investments worth around $1.4 billion  in 2015, half of which will be in energy, followed by cement and industrial investments, she also revealed.