The Turkish metropolis Istanbul is preparing to host a major economic summit that looks to address global supply chains, trade, transportation, tourism, innovation as well as transformation in energy and discuss their impact on the global economy.

Officials, executives and private sector representatives from Türkiye and multiple other countries will be gathering for the sixth edition of the Istanbul Economy Summit, which is to be held on Dec. 8-9.

Held under the main sponsorship of the major Turkish renewable energy company Kalyon PV, the two-day summit will take place under the theme of "Global Value Chains."

Multiple panels on the sidelines of the event will address hot topics such as social upgrading, future of global transportation, spearheaded by electric vehicles, while also shedding light on transformation in the energy industry, clean energy and opportunities, trade, technology, innovation and development, digitalization, migration and banking.

"For sustainable development, we must manage our own development in a way that does not destroy the ecological balance and without changing nature and the environment," said Istanbul Economic Summit Chairperson of the Executive Board Abdullah Değer at a press meeting in Istanbul on Tuesday.

"It is vital for the future of our world to increase renewable energy production because it will not run out, and to convert solar energy into electricity or heat with various panels and systems. Undoubtedly, reducing energy and water consumption, and having more environmentally friendly actions and demands are some of the things that can be done individually within the scope of combating climate change," Değer said.

With increasing information communication technology and developing infrastructure, he stressed that the importance of global value chains have risen to high levels for countries.

"Participation in global value chains and the contribution of the values obtained from this participation to countries are expressed as sustainable development, growth, increasing prosperity and achieving international competitiveness," Değer noted.

He also referred to electric vehicles, the use of which he said is becoming more and more widespread all over the world, as a factor that has become one of the "main ingredients of the green economy."

Değer also said that the Istanbul Economic Summit would be "crossing the borders" from 2023 and will be held in other countries, starting with Berlin.