TUSIAD selects new board and president

The Turkish Industrialists and Businessmen's Association (TUSIAD) selected a new board and named as its new president Muharrem Yilmaz who was formerly the vice chairman of the board at TUSIAD in its general assembly on Thursday. Speaking after the general assembly, Yilmaz said that the government could concentrate on new steps such as strengthening the competitive power of businesses and subsidizing sectors that are critically important in narrowing the country's foreign trade deficit. "We will continue following the developments closely. New incentive packages and industrial investments are required," Yilmaz said. Defining Europe as "a critical economic partner," Yilmaz signaled enhanced efforts in contributing to Turkey's decade-long EU accession process while calling on the government to concentrate on new measures to shore up economic growth and maintain financial stability at the same time. "The crisis in the EU will eventually come to an end. While the EU redefines and restructures itself, it would be important for Turkey to join and contribute to this process. We are planning to carry out comprehensive work with our EU-member interlocutors for a new EU architecture," Yilmaz added.