Turkey should move from slavery to mastership in export, Babacan says

ANKARA – Anadolu Agency

Deputy Prime Minister Ali Babacan speaks during a joint meeting between the World Bank and the Turkish Treasury Undersecretary in Istanbul on May 23. AA Photo

Turkey should begin producing its own brands instead of contract manufacturing to upgrade the quality of its exports, the deputy prime minister of economy has said.

“The era of slavery for Turkey in exports should end and the era of mastership should begin,” Deputy Prime Minister Ali Babacan said, noting a Chinese upper level manager told him that they used this locution to define their situation.

“What is mastership? It is producing your own brand, your own product, your own technology and goods that reflect your added value. The moment we maintain this transformation, both quality and added value in Turkey’s exports will rise,” he said at a joint meeting between the World Bank and the Turkish Treasury Undersecretary in Istanbul on May 23.

“What is meant by slavery is trying to export the products that are produced with someone else’s recipe in a highly competitive environment. In other words, contract manufacturing; you producing someone else’s goods,” he further elaborated, noting reversing this perception would help Turkey to cure one of its largest problems: its current account deficit.

Speaking during the launch of a report on the role of foreign trade on the path to become a high-income country, Babacan said the theme of the report is very important for Turkey, which was at the low-middle income class of the World Bank in 2002, is today at the high-middle income class and is on the brink of becoming a high-income country.

“When our national income surges by 2,000 to 2,500, we will officially become a high-income country,” he said, noting this will necessitate hard work.