State should give up praising ‘European Union principles’

ISTANBUL

The state should avoid boosting salaries of employees says Kemal Yavuz, the head of Socar Turkey. AA Photo

Turkish bureaucracy should stop promoting European Union (EU) principles as ideal, as the EU project has already collapsed in all economic terms, Kenan Yavuz, head of Azerbaijan’s state-run energy company Socar’s Turkey branch, said on Dec. 27, as reported by Anatolia news agency.

Turkey should not pattern itself on the EU’s economic laws, which have conducted an economic failure in the region, excluding Germany, Kenan Yavuz said at a meeting organized by the Independent Industrialists and Businessmen’s Association (MÜSİAD).

“The EU will need the United States’ aid to recover from economic crises just like in the post-World War II times. The U.S. is prepared to export its energy, which will be sufficient for itself in the next 250 years, to the EU,” warned Yavuz, adding that the only thing that keeps EU countries alive is technology and information marketing.

Socar’s Turkey president criticized Turkey for not being able to produce enough of high technology and information, further competing with labor-intensive ordinary products in international markets. The state should protect its exporters in the face of international competition, said Socar. He pointed out that the state pays higher labor salaries than the private sector, which causes unfair competition and difficulties in hiring skilled laborers in the private sector.

Refinery costs $1 bln less

Petkim, Turkey’s petrochemical company controlled by Socar, initiated a tender for an oil refinery to be located in Aliağa, northwestern Turkey, and they chose the Tecnicas Reunidas- Saipem- GS Engineering & Construction and Itochu consortium, Kenan Yavuz announced in an interview with Reuters Dec. 28.
“The refinery construction will cost almost $4 billion, excluding financial costs. The total cost will be $1 billion lower than our previous projection thanks to a new economic stimulus package” Yavuz said.