Istanbul hosts international financial summit

Istanbul Finance Summit – 2011 has kicked off in Hilton Center, Istanbul.

Delivering keynote speech at the event Economy Minister Zafer Caglayan said that the growth in the Turkish economy had continued.

He noted that as a result of the economic policies implemented by the government, the country’s national debt made 42% of GDP: “If in 80 years of the Republic, foreign investment in the country amounted to $14.7 billion, over 8.5 years of the AKP, it reached $105 billion. The volume of foreign investments in the country for seven months of this year amounted to $ 9.1 billion. The volume of export in current year is expected to reach $135 billion. We have all possibilities to increase the GDP up to $ 2 trillion, exports - up to $500 billion during the 100th anniversary of our republic”.

Caglayan said that over the last months the European companies had established joint ventures in Turkey and urged the EU to simplify visa regime for the free operation of Turkish businessmen. He noted that from an ethical point of view the translation of $ 168 billion of Libyan money into loans is incorrect and that these funds should be returned immediately to the people of Libya.

The two-day summit is attended by the ministers of economy, the general directors of major banks and stock exchanges of some EU countries. Prime Minister Ali Babajan will participate in the event on September 29.


/APA/