The Environment becomes convenient to buy global brands and companies
ICOC President Şekib Avdagiç says that “The environment is becoming convenient for Turkish capital to buy global brands and companies which are decrepit because of the coronavirus. It is required to be ready for the global purchasing which may enrich.”
Istanbul Chamber of Commerce (ICOC) President Şekib Avdagiç evaluated the effect of Coronavirus (Covid-19) on Turkish trade and talked about the company purchasing and mergers to the AA reporter, and said like that “The pandemic has speeded up the flow of the history, this is its the biggest feature. It has changed the immune system of the persons, companies and world while testing it with the reason of its this feature.”
Avdagiç expressed that it is not enough to say for the numbers related to pandemic period even if they only affect the trade in bad way remarked these:
“That is the point which has to be seen that; Covid-19 sped up the digital transformation extraordinary while supplying a seismic alteration on the trade. Because, the tendencies for e-trade started to increase much more than it was expected. E-trade as the sales channel made a bomb effect seriously. Turkey reached at the point on e-trade with 5 months instead of 5 years. Its effect was seen especially on e-trade. For instance, 5 million credit cards which never shopped on e-trade up to now, did online shopping at first time on the months of March and April. These numbers are important to indicate the speed of transformation.”
“COVID-19 ACTIVATED OUR CROSS-BORDER E-TRADE ABILITIES”
Avdagiç mentioned about the activation of Covid-19 on our cross-border e-trade abilities, and said like that “As Turkish business world, we have to provide the logistics to work with our other sectors colloboratively and speedly in order to spread the e-export. Thus, we have to pursue receiving an important share from global e-trade.”
Avdagiç drew attention that most of sectors having no need to produce in physical environment succeed the use of flexible working system properly, and said that “Turkey adapted to Covid-19 period and became successful on the fileds like selling and producing. It formed an opportunity to increase its privilege when we looked at the datas with the aspect of the informations came from our members.”
Avdagiç highligted that the contentments of business World, and said that Turkey did not only fight with the outbreak successfuly as an example for the world but also it gave a global self confidence for the business world.
Avdagiç mentions that Turkey tries to integrate its producing ability with trade and economy as it becomes successful in its fighting kept the words like that:
“ We are thankful that our production never stopped totally and it has a capacity to muddle through while opening our business life with producing again on June. The most important positive reflection realized on the production structure. Most of sectors like medical material and devices production in particular succeed producing with the pandemic. None of the countriens in the world succeed increasing 12 times of mask production inside 30 days. Our producers did it. We succeed it in medcial device production as well. This indicated that Turkish entrepreneurs could be flexible for changable demands, they could alter their production speedly for the demands. All these demonstrated that we could locate Turkey in a new orbit in the world with our plans.”
Avdagiç highlighted that there is a big contribution of the investments on domestic and national production structure through integration of production with trade as much as we can not compare with most of developed countries.
Avdagiç told the three imponrtant features keeping the success like that “Our companies did not waste time to adapt their productions, managements and marketing periods for the new conditions of pandemic. We keep our way with solving the codes of adaptation and alteration.”
INTERNATIONAL BUYING INITIATIVES OF ICOC MEMBERS
Avdagiç gave the response for the question related to international buying initiatives of Turkish companies like that:
“Our some members have initiative on this issue. We have to highlight the under of this issue. Pandemic weakened the production, management and financing structures of the companies in the world. But at the same time this situation resulted from China where located in focal point of world production gave some opportunities to the companies in other countries and made them much more valuable. Therefore, both two features activated company buying and mergers globally. Global investors prepare like that in the pandemic period and on after. There may be its reflections to our country. At that point, we have to pay attention no to sell the none of our companies to foreign investors. The pandemic alters the economy politics, it gives new roles to the state. Its role seems like a regulative in the economy. At this point, governments protect their productive companies. We have to distinguish the global investors and global grafters in particular.”
“THERE ARE MANY CHOICES ON THE TABLE FROM AIRPORT TO THE HOTELS”
Avdagiç atracted the attention for the new wave of Covid-19 on global brand and company buying, said like that “Pandemic coronavirus seemed that it will press “play button” for company buying and mergers after pressing “pause button” on the world trade. There will be wolrdwide brand exchanging with the reason of cash needs or new directions for the companies. Petro-dollar rich investors, grafter funds, Chinese companies in particular look for company in Europe. There are many choices on the table from airport to the hotels. The news come to us about the exchanging of many brands especially in fashion, luxury sector.”
“COVID-19 SEEMS LIKE SPEEDING UP THE GLOBAL BRAND EXCHANGING”
Avdagiç said that “ Turkish capital must be in the game as well. Covid-19 seems like speeding up the global brand exchanging. Turkey must be a fast fish in the hunting of global brand exchanging and company buying.”
Avdagiç mentioned that he may take action with available funds for the correct target, and said like that “ The environment is becoming convenient for Turkish capital to buy the global brands and companies weakend by Covid-19. There is excepted for new opportunities on next months. We have to be ready for all kind of global buying which will contribute. We have to bu patient and brave on the issue of buying. But it is the certain that new choices with convenient prices will come on global buying.”
Avdagiç highligted both the protection of Turkish brands not to be sold or exchanged with cheap prices and the pursue of the companies in the world for global buying with convenient conditions.