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24TH INTERNATIONAL BUSINESS FORUM

19th of November 2020
“VIRUS ECONOMY: SURVIVAL AND DEVELOPMENT IN THE NEW WORLD”

International Business Forum (IBF), which has been organized every year under the leadership of MUSIAD since 1995, is an international platform of annual congresses and joint commercial activities bringing 42 business associations from 25 countries together. The platform, founded on the basis of the principle of establishing “Global Business Networks” among Businessmen, brings together valuable participants from different countries of the world in order to establish projects to solve the important problems of current economics with different approaches and to improve the communication and economic cooperation between the member countries.

At the congresses where concrete solutions are submitted under the main theme, so many activities like high level panels, presentations of multinational business projects, country briefings of representative delegations from different countries and real life experiences in business life are realized. Furthermore, sector specific business meetings and business matching sessions are also being organized to increase the trade volume among participating businessmen.


 

24TH INTERNATIONAL BUSINESS FORUM
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23rd International Business Forum (IBF) Congress in 2019 was attended by primarily H.E. Sefik Dzaferofic, Bosniak Member of the Presidency of Bosnia and Herzegovina, H.E. Ruhsar Pekcan, Minister of Trade of Republic of Turkey, H.E. Mirko Sarovic, Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, as well as 700+ prominent businessmen from 40+ countries in Sarajevo/Bosnia and Herzegovina. Other visitors included many members of the national and international press, senior bureaucrats and academics.

 

Building on the success of previous events, 24th IBF Congress was held together with the MÜSİAD Expo Fair in Istanbul on November 18-21, 2020 at TÜYAP Fair and Exhibition Center.

The main theme of 24th IBF Congress was is “Virus Economy: Survival and Development in the New World”.

The COVID-19 crisis, has been an eruption point for the global economic system that has been in a tight corner for many years. It caused a serious changes in both economic and social sphere of the World. A transformation is taking place at an extraordinary pace in many parameters, primarily in the ways of doing business, working conditions, production and consumption patterns of the global economy, which is currently in a great economic war against the effects of the COVID-19, that is well known for being the third big epidemic in the last decade. Determining (finding, predicting) the future direction of this wind of change, that affects all sectors without any exception, is of vital importance for all actors of the economy. With the influence of the corona virus, the social mobility, which was slower and more stable compared to the past brought an economic stagnation with it. Thus, adapting to change became a "necessity" rather than a "choice".

 

Nowadays, scientist loudly state that with the deterioration of the ecosystem, the humanity will encounter new viruses and epidemics. Therefore, it has become necessary to transmit the experiences gained with the COVID-19 crisis to the future through redefining the investment, production and employment strategies in the new period, which we can describe as the "Age of Viruses”.

 

Within this context, we found answers to the questions below:
- How we can protect the “health of economics” in the Age of Viruses?
- Is it possible to acquire “economic immunity” against the viruses?
-Is there a possibility to keep “socioeconomic distance” from viruses?

Additionally, the role of Blockchain system, crypto currencies and new methods of payments to the global economic fight against pandemics were discussed on panel sessions.

 

In this context, we discussed;

A) Pandemic and Paradigm Shift: Choice or Necessity  
1. Fiscal and monetary policies and emergency mechanisms implemented by central banks against epidemics

2. Effects of the Virus on Government’s Foreign Trade Policies and General World Trade

 

B) Industries that will Boom after COVID-19

1. Health, E-Fitness and Social Care

2. Tourism

3. E-Commerce and B2C Cargo
4. E-conferencing, E-learning and E-media, Cyber Security, Information Technology and New Other Technologies that may Emerge

 

with the experts in the related fields.

 

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