Turkey leads discussions on global trade reform and economic growth

The Istanbul Trade Congress has convened to discuss the reconstruction of global trade amidst shifting paradigms, geopolitical risks, and the digital and green transitions. Vice President Cevdet Yılmaz highlighted that the Turkish economy has achieved 24 consecutive quarters of growth, with goods and services exports approaching $400 billion in 2025.

Discussions at the congress and within the World Trade Organization (WTO) emphasize the need for systemic reforms. WTO Chief Economist Robert Staiger noted that the global economy is at a critical turning point, warning that a failure to modernize trade rules could result in a potential loss of up to 10 percent of global GDP.

Parallel to trade discussions, climate action remains a central theme. Business leaders, including Ankara Chamber of Commerce President Gürsel Baran, emphasized the necessity of integrating SMEs into climate transition roadmaps through financing and new technologies. Additionally, scientific experts have called for stronger inclusion of ocean and marine policies in upcoming COP31 agendas due to rising sea temperatures and acidification.