MUSIAD EXPO begins in Türkiye, aiming for $1 billion in business deals

The MUSIAD EXPO 2024 International Trade Fair, organised by the Independent Industrialists and Businessmen's Association (MUSIAD) and targeting $1 billion in business volume, has officially begun.

The event, which is an important gathering for the business community, opened its doors at the TUYAP Fair and Congress Center in Istanbul with the participation of Türkiye's Vice President Cevdet Yilmaz, Minister of Treasury and Finance Mehmet Simsek, and Minister of Trade Omer Bolat.

Cevdet Yilmaz said at the opening ceremony that the fair will contribute to economic cooperation and prosperity at the regional and international level by paving the way for new collaborations and investments.

"We should be proud of these developments and achievements, but are they enough? No, we have a long way to go," Bolat said.

Bolat stressed that the expo is an important international trade and investment platform that brings together the Muslim business world from the US to Indonesia, from South Africa to Russia, from Portugal and the UK to the Middle East and Türkiye.

The trade ministry always stands on the side of exporters and is using all its units to work to boost exports and provide resources to exporters.

On the incentives and support offered to exporters, Bolat said the ministry also makes trade pacts with foreign countries, organises international summits and meetings, and plays a team game with all stakeholders in the sector.

In his speech at the opening, MUSIAD President Mahmut Asmali highlighted that Türkiye has always been a trade hub throughout history. He emphasised that the ancient lands at the heart of the Silk Road have always been a centre for production, trade, and value creation.

“Today, we are preparing to once again shape global trade by combining this ancient mission with the needs of the modern world," said Asmali, revealing that this year's theme is "Global Trade Here."

Asmali shared that this year, under the theme "Global Trade Here," the event is hosting 2,150 participants from 115 countries and over 300 companies from 24 sectors. "We are especially pleased to meet with participants from diverse sectors, including textiles, machinery, construction, energy, food, defence industry, and advanced technology," he said.

He also noted that the event is not just about business talks but about presenting a vision that shapes the future, guided by the values and history of the past. He referred to the "Medina Market" concept, which is associated with MUSIAD, as a symbol of solidarity, sharing, and trust.

"By drawing inspiration from the spirit of Medina Market, we have been bringing local and foreign businesspeople together for years in cooperation based on justice and trust. Therefore, we know that during MUSIAD EXPO, not only business deals will be made, but new bridges of brotherhood will be built and strong partnerships will be founded," said Asmali.

Asmali also emphasised that the presence of major delegations, especially from Algeria, Iraq, Malaysia, and the UK, will provide significant momentum to globalise trade. He announced that with the support of the Ministry of Trade, more than 650 participants from 88 countries will meet Turkish companies.

He highlighted that delegations from Malaysia, ministerial-level participants from Iraq, and purchasing delegations from the UK and Algeria underscore the strategic importance of Türkiye in the global business world. Asmali expressed his heartfelt belief that they will reach the $1 billion trade volume target by the end of the fair.

He also mentioned a packed agenda for MUSIAD EXPO, including the G20 Panel to discuss world economy, the Türkiye-Iraq Business Forum to strengthen trade relations, the MUSIAD INVEST program to bring Turkish entrepreneurs and international investors together, and a gala dinner to strengthen solidarity among business representatives.

Asmali also shared that President Recep Tayyip Erdogan is expected to visit the fair on November 29 and reflect on the major economic strides Türkiye has made under his leadership over the last 22 years.

Regarding Israel's inhumane actions in Palestine's Gaza, Asmali stated, "What has happened in Gaza over the past year is a dark stain on human history. Thousands of people, including women, children, and the elderly, have been killed. These massacres not only extinguish the lives of innocents but also wound the conscience of humanity. These attacks by the Israeli aggressors are clearly a crime against humanity."

Asmali also emphasised that the international system's silence cannot be sustained any longer, reaffirming MUSIAD's ongoing support for Gaza and the Palestinian people.

The 20th edition of MUSIAD EXPO, which features over 300 companies from 24 different sectors, will last for four days.

With 2,150 participants from 115 countries, the event will host more than 650 foreign purchasing delegations. The fair aims to reach a trade volume of $1 billion through business meetings, forging new collaborations and partnerships.

The fair, which aims to strengthen Türkiye's position in international trade, will also feature the G20 Panel, Diplomatic Missions Sessions, the Türkiye-Iraq Business Forum, the MUSIAD INVEST Networking Program, and closing events.

On the final day, the fair will host country presentations highlighting investment opportunities, special programs, and MoU signing ceremonies.