DEİK board chairman: Reforms to attract huge investments, cash inflow

Yırcalı, also a Turkish Industrialists and Businessmen’s Association (TÜSİAD) member, told Today’s Zaman that the reform package seeks to bring more democracy and freedom both to Turkey and to business circles in the country. “I will cast a ‘yes’ vote in the referendum, as I believe the constitutional amendments package will bring political and, thus, economic stability to Turkey,” he said. “With the approval of the constitutional amendments in the referendum, I believe that Turkey will attract not only foreign investments but also cash inflow. Many foreign companies will compete to buy government bonds, which will eventually up the value of the Turkish lira. To me, an increase in currency signifies the value attached to a country,” he added.

An approval despite TÜSİAD

Yırcalı acknowledged that he may become the target of some criticism for publicly declaring that he will support the constitutional changes in the referendum. “But if we are to say what we think, then I say that I will vote ‘yes’ in the referendum,” he said. Some business organizations in Turkey, such as the Turkish Industrialists and Businessmen’s Association (TÜSİAD), are reluctant to openly state what they think about the reform package though there is growing pressure from their own members to clarify their positions about the proposed constitutional changes.

Once approved, the reform package will improve democratic representation in the higher judiciary, limit the jurisdiction of military courts solely to disciplinary affairs, open the decisions of the Supreme Military Council (YAŞ) to judicial review and pave the way for the trial of the perpetrators of Turkey’s 1980 coup. The package will also establish an ombudsman’s office, give citizens the right to individually apply to the Constitutional Court and enable affirmative action for women, children and the disabled. If the package receives a green light on Sept. 12, citizens will no longer be barred from traveling abroad without a court order, a change of significant importance for businessmen who must leave the country frequently.

One of the articles included in the constitutional amendment package seeks to give constitutional protection to the Economic and Social Council (ESK), as well. Such protection would prevent the government from interfering in decisions regarding when the council convenes and which socioeconomic policies it endorses. According to Yırcalı, the constitutional protection for the ESK will be an advantage for the business world. “As an employer, I support the article on the removal of restrictions on unions,” he added. With the constitutional changes, restrictions on the right to strike will be removed. Prohibitions on politically motivated strikes and lockouts, solidarity strikes and lockouts, occupation of work premises, slowdowns (a intentional decline in productivity) and other forms of workers’ collective action will be abolished.

Regarding changes planned to the structures of the Supreme Board of Judges and Prosecutors (HSYK) and the Constitutional Court which will increase the democratic representation at those institutions, Yırcalı said those changes will help the board and the court develop more transparent identities. Yırcalı also added that victims of Turkey’s 1960 and 1980 coups will be able to restore their reputations if the reforms are approved by the public.

Taking into account the potential benefits for themselves and the country at large, business circles in Turkey have shown huge support for the proposed amendments. So far, the growing chain of support has been joined by the İstanbul Chamber of Commerce (İTO), the Turkish Confederation of Businessmen and Industrialists (TUSKON), the Independent Industrialists and Businessmen’s Association (MÜSİAD), the Turkish Exporters Assembly (TİM), the Turkish Confederation of Young Businessmen (TÜGİK), the Free Industrialists and Businessmen’s Association (HÜRSİAD), the Anatolian Lions Businessmen’s Association (ASKON), the All Industrialists and Businessmen’s Association (TÜMSİAD), the Business Life Cooperation Association (İŞHAD) and the Small and Medium-Sized Enterprises Association (KOBİDER), as well as scores of local business groups. However, some other important business NGOs, including TÜSİAD, The Turkish Union of Chambers and Commodity Exchanges (TOBB), the Ankara Chamber of Commerce (ATO) and the İstanbul Chamber of Industry (İSO), have refused to lend open support to the reform package.