The 24th International Business Forum (IBF), attended by industrialists and businesspeople from around the world, began with the "Virus Economy" agenda.

The International Business Forum (IBF), which has been operating as MÜSİAD's international platform since 1995 and is attended by businesspeople from 25 countries, brings together for annual congresses and accompanying commercial activities. This year, the 24th edition was hosted by TÜYAP.

During these challenging times for the world, the forum hosted country representatives and businesspeople who made great sacrifices based on pandemic theories and TSE COVID-19 Safe Service standards. In his speech, IBF President Erol Yarar stated:

"If we don't capture the current situation clearly, if we can't diagnose accurately, we can't provide treatment. We need to listen to our experts about what will happen today and tomorrow through sectoral analyses. The world has descended into a major crisis unlike any seen in a century. When we look at global statistics, 56 million people die every year. Currently, this disease has caused 1,300,000 deaths in 11 months. Statistically, there's a 1.5% increase. When you look at how the world economy contracts, there's only one explanation: When psychology deteriorates, the economy deteriorates as well," he said. COVID HAS CHANGED OUR WAY OF LIVING AND COMMERCE

Yarar, reminding everyone that governments around the world were making very quick decisions and announcing $7 trillion in financial and economic measures, said, "World statistics showed that the second wave would be much larger. The second wave was larger than the first. We need to continue with the same economic measures. Inflation is not the current agenda. The point is to keep businesses afloat. The point of no return is business closure. Developing countries around the world are constantly increasing their government support, like monitoring the pulse of a patient in the emergency room. If businesses close, there's no turning back. If you own a restaurant today and say you're closing them, what will you do with the employees? What will you do with the business?" Yarar, noting that COVID has permanently altered lifestyles, including shopping habits, in sectoral analyses, and that those who maximize e-commerce, along with the logistics aspects of industrial trade, will be successful, said, "We must find solutions to the problems that increase unemployment and put people through social and individual trauma. Therefore, at the IBF, our emphasis on the virus economy is our hope that the virus, a constant risk of the 21st century, will end soon for the benefit of humanity."

In his opening remarks, MÜSİAD President Abdurrahman Kaan emphasized that most governments, regardless of their economic size, were naturally caught unprepared by this global crisis, which has left people facing deep-seated weaknesses in their public health and social security systems.

Kaan, emphasizing that the G-20's gradual shift towards a G-2 structure comprised of the US and China poses a serious threat to all other actors in the global economy, continued: "In the new era, we must develop a critical and common political language aimed at reorganizing the major institutions of the global system, particularly the G-20, the World Bank, the IMF, and the World Trade Organization. It is impossible for the leading actors in the struggle for global hegemony, which we anticipate will be even more fierce in the post-virus pandemic era, to maintain their place at the table by excluding Turkey from consideration." MÜSİAD President Kaan stated that a country's monetary power determines its production and investment capacity, and warned of the danger of both forcing the money in the system to remain idle and depriving it of the investment and production power essential for development if we attempt to explain or even resolve real economic principles through financial policy tools:

“We wholeheartedly support the economic development campaign launched by our President and built on three pillars. We quickly witnessed how Turkey, thanks to its strong geopolitical advantage, can once again become a center of attraction for foreign investors when confidence is instilled in the markets. However, we hope that this determination will continue in the future, and that a macro production policy will be adopted, and that input and semi-finished goods production, which will reduce the risk of cost inflation, one of our country's most significant problems, will be realized through domestic production, not import-driven.”

Deputy Minister of Treasury and Finance Nureddin Nebati, one of the IBF speakers, emphasized that Turkey provides significant conveniences for investors and that these conveniences are beginning to be reflected in the data:

“In the Doing Business Index, compiled annually by the World Bank, Turkey ranked 43rd last year, rising 10 places in 2020 to become the 33rd easiest country to do business in. The biggest improvement in the index was achieved in the tax area, which is under the responsibility of our Ministry, and our ranking in this area rose from 80th to 26th.”

MÜSİAD, representing the business community,