Babacan says Turkey ready for energy cooperation with Greece

Babacan said Turkey was ready to enhance the emerging cooperation in the area of energy.

Babacan says Turkey ready for energy cooperation with Greece

Turkish Deputy Prime Minister Ali Babacan, who is visiting England to attend a series of meetings, delivered a speech Thursday in Oxford University on Turkey-Greece relations during the inauguration ceremony of the Turkey branch of Southeastern Studies Programme (SEESOX).

Babacan who said that the relations between Turkey and Greece were developing, pointed out that the trade volume between the two countries reached 3.5 billion USD.

He said 350,000 Turkish tourists visited Greece, and around 550,000 Greek tourists visited Turkey annually said the positive developments in the tourism sector contributed to mutual understanding between the two countries.

Babacan said Turkey was ready to enhance the emerging cooperation in the area of energy.

Babacan later proceeded to London to deliver a speech at the London School of Economics (LSE).

Babacan said Turkey had its share from the effects of the global financial crisis, noting that the financial fluctuations and shrinking global demand slowed down the Turkish economy.

He said Turkey which was in trend of economic growth until 2008 entered recession as the global economic uncertainties intensified early 2009.

Babacan said that thanks to its sound banking system, cautious monetary policy, floating exchange rate regime and strong international reserves, the effects of the global financial crisis on Turkish economy were limited in scope.

He said the worst in the global financial crisis was left behind and with recovery in the global financial system, Turkey would resume record levels of economic growth.

Babacan will attend a meeting Friday on "Emerging Markets" hosted by The Economist, and deliver a speech on the Turkish economy and the global crisis.


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Last Mod: 18 Eylül 2009, 16:31
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