Advancing priorities will enable the business community to speak with a common voice
Turkey’s key priorities during its B20 presidency are focused on the areas of trade, finance for growth, infrastructure, investment, anticorruption, employment, SMEs and entrepreneurship.
With respect to the governance of international finance institutions and the spill over effects of national policy decisions on other markets, Turkey will concentrate on improving and strengthening the current global financial architecture. It will also seek to increase and diversify the access to equity for SMEs, and improve the financing structure of the corporate world towards a better balance of debt and equity financing.
Turkey aims to promote multilateralism, as opposed to protectionism, by fostering trade facilitation and focusing on harmonizing regional trade agreements. There will also be an exploration of the relationship between preferential trade agreements and the multilateral framework.
Infrastructure and Investments
As well as removing barriers on cross-border infrastructure investments, Turkey will also focus on improving the financing of infrastructure investments based on new instruments such as securitization.
Turkey will explore the following mechanisms: encouraging increased financial support for skill development, innovating increased flexibility in the labour market, improving match-making mechanisms between job-seekers and employers, and increasing opportunities for women in the labour force. Ways to increase human capital productivity, modernization of the labour regulations for the new economy, and measures to overcome youth unemployment, will also be discussed.
Previous efforts towards enhancing collective actions to develop institutional arrangements to promote anti-corruption compliance in the private sector will be continued under Turkey’s presidency, as well as efforts to increase transparency in business practices, and improve mechanisms for sharing the best anti-corruption practices in private sector.
SMEs and Entrepreneurship
Turkey will focus on bottlenecks that hinder the growth of these companies. Further issues to be discussed under include the potential impact of new financial regulations on SME financing, internationalization of SMEs and SME integration into global value chains, developing new equity financing mechanisms for start-ups ranging from angel investing to crowdfunding, and enhancing win-win relationships between start-ups and large corporations.