year 2005 December… The Union of Chambers and Stock Exchanges of Turkey (TOBB) Vice President, Kahramanmaraş Chamber of Commerce and Industry Chairman of the Board of Directors Mehmet Baldouk, sent a letter. In the letter he said:
– I worked for 3 years, I built a factory for 5 million dollars. My $1 million is gone…
Baldouktold the story of the establishment of the Nazar Tekstil weaving factory, which I visited when he invited me to Kahramanmaraş:
– At the beginning of 2003, I had a fund of 1 million dollars. I thought of valuing it in Treasury bonds or on the stock market. At that time, I always encouraged my business people to invest. They’re like, “Why don’t you do it?” They said, I made an investment so there would be no conflict.
He said he sold 600 decares of land and used bank loans:
– I established Nazar Tekstil Weaving Factory in Kahramanmaraş Organized Industrial Zone for 5 million dollars.
He recalled that the factory started production in the second quarter of 2004:
– The domestic market was full of goods with import registration, so we turned to export. We started exporting to 15 countries. In 2005, our exports reached 40% of turnover. However, we have not been able to achieve the profitability that we expected on export.
“Overvalued TL exports are hit” He said that instead of a complaint like this, he came to the conclusion that it was necessary to invest $5 million in machinery in order to meet external demand and increase the efficiency and profitability, but he had a dilemma:
– “What would happen if I sold my factory, which cost 5 million dollars instead of an additional investment?” I thought. I did some research and saw that I could find a buyer for the plant for $4 million.
This situation came to mind:
– If the value of my factory, which is located in one of the most peaceful areas of Turkey, whose stony ground and businesses are increasing in value, and which can also export, has decreased by 1 million dollars, it there was a problem with the EU negotiation deal.
BaldoukHe shared that he went back to 2003, before he started investing in the plant, and calculated:
– If I had bought treasury bonds with my 1 million dollars in 2003, invested in the stock market or in interest, my money would have reached 2.5-3 million dollars.
He was furious at his calculation:
– I invested, 1 million dollars flew away. Now I have a loan for a $5 million investment in machinery, but I’m scared. Who invests when this account is in the middle?
In his letter, he did not forget to highlight the positive developments in the economy:
– Political stability has brought economic stability. Budgetary discipline was respected. Good results have been obtained from the macro point of view.
Then he focused on this point:
– TL 25% overvalued, Chinese currency 35-40% worthless. The competition in this environment is very tough. Where does the growth that does not support industry and create enough jobs in Turkey lead? Can Turkey be satisfied with financial movements and the service sector?
Sad news on Sunday, our editor Handan Sema Ceylon gave:
– Mehmet Balduk passed away…
Currently at TOBB Rifat Hisarcikliogluin the process that led him to the presidency of the board of directors. BaldoukThe influential role played by him flashed before my eyes.
Balduk had become one of the names that marked both the Chamber of Commerce and Industry of Kahramanmaraş and TOBB.
I went to the archives and found my message containing the letter he sent me in December 2005:
• I invested, 5 million dollars flew away…
In 2005, Turkey entered into full membership negotiations with the EU, set records in attracting foreign direct investment, lost 6 zeros of its currency and reached the point of complaining about the overvaluation of Turkish lira…
Today, a Turkey that is suffering in an environment of uncertainty, with an extremely zero TL, collapsing purchasing power, a CDS (risk premium) score above 900, unable even to update the customs union with the EU…
The architects of both are the AKP Party government… Isn’t that interesting?
Mehmet BaldoukI wish God’s mercy on him.
The concept of “the neighbor has it, I have it too” is outdated
year 2008 July… Period President Abdullah GulAmong the journalists who followed the trip to Egypt Gungor Uras and I am too.
Brother GungorOn the way home, he asked a question during a conversation on the plane:
– 15 yarn factories in Kahramanmaraş were closed.
President Pinkanswered the question as follows:
– In some investments, “The neighbor did it, I will do it too” He had logic. Now they are victims of road accidents because of the exchange rate.
PinkI wrote these words from , President of Kahramanmaraş Chamber of Commerce and Industry Mehmet Baldouk immediately called:
– The right of reply to Kahramanmaraş was born…
Baldoukfirst objected to the idea that there is excess capacity in the thread:
– Today, Turkey imports as much wire as its installed capacity. So there is a need, the capacity is not large.
Next “Only Kahramanmaraşlı is in trouble” He pointed out that there was such an impression that:
– I made some statements, so Kahramanmaraş became the symbol of the problems encountered in production, export and business life. In fact, the problem exists in all sectors and throughout Turkey.
He then made the following point:
– “The neighbor has it, I have it too” understanding has lagged far behind in terms of Kahramanmaraş.…
At that time, this article appeared in the local newspapers of Kahramanmaraş with the following title:
• Balduk’s response to President Gul…
let’s see my hair
This On the last day of February of the year, the Chairman of the Board of Directors of the Kahramanmaraş Chamber of Commerce and Industry Sahin Balciogluat the invitation of Hakan Guldag, Seref Oguz and Handan Sema CeylonWe are in Kahramanmaraş with .
Board member of Kahramanmaraş Chamber of Commerce and Industry Nazli Ceylon Balduk KurtulI asked about his father Mehmet Balduk, he replied:
– He went to Istanbul for a medical check-up…
He then called his father. Dad BaldoukI’m stuck on:
– President, we have been open for a long time, we haven’t seen or talked to each other for a long time.
He has answered:
– Looks like my cancer treatment is over. Let me pack a little, my hair will come out, let’s meet.
No, heart attack Mehmet BaldoukHe took it away from us early…
Rest in peace…
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