PLASFED President Ömer Karadeniz was a guest of Reyhan Baysan, host of the Focus program published by Bloomberg. Karadeniz, the head of the umbrella organization PLASFED, stated that industrialists are struggling to breathe under high interest rates and tightening credit conditions, saying, "Even current investments are at risk; there is a need for strong and widespread financing instruments."

In the Focus program, PLASFED President Ömer Karadeniz made important assessments regarding the agenda. He evaluated the Central Bank's interest rate decision, which will be announced on July 24, as a critical turning point for industrialists, emphasizing that access to finance is vital for the sustainability of production.

Karadeniz noted that new investments have largely come to a halt under current economic conditions and that many industrialists are even struggling to sustain their existing investments. He expressed that initiatives like the Breathing Loan are valuable, but such supports remain insufficient in terms of volume. Karadeniz stated, "Our industrialists are having difficulty preserving their existing investments, let alone making new investments. To reverse this picture, we need stronger and more widespread financing instruments."

Pointing out that the tightening in the banking sector is also reflected on producers, Karadeniz said, "Even companies with a forty-year history and solid financial records are struggling to access credit. Interest rates are high, and resources are limited. Under these conditions, sustaining production becomes nearly impossible."

"The Plastic Industry is Turkey's Strategic Power"

Stressing that the plastic industry holds an important position in both the domestic market and exports, Karadeniz stated that the sector has been making significant strides since the pandemic. He noted that the plastic sector ranked first in exports in 2022, particularly highlighting its irreplaceable role in areas such as healthcare and automotive, stating, "We are second in Europe after Germany, and seventh in the world. This sector is Turkey's unseen strength."

Karadeniz indicated that the sector creates a significant economy with an annual turnover nearing 50 billion dollars and a production capacity exceeding 10 million tons, mentioning that by 2024, there will be 7 billion dollars in exports and 3.5 billion dollars in imports of plastic products. However, he pointed out that due to dependency on raw materials, total imports have reached 11.5 billion dollars.

"Transition to a Circular Economy is Essential"

At the end of his speech, Karadeniz touched upon environmental sustainability, emphasizing that the transition to a circular economy model is inevitable. He expressed that the deposit-return systems in Europe should be adopted as a model for Turkey, stating, "This is not just an issue of today, but also for future generations. We must protect our resources and rapidly develop recycling systems."

Translated by Artificial Intelligence