Deputy PM: Turkey shines out among OECD countries

"Our young population possesses high income rates, however we are also careful to proceed with precaution," Turkish deputy PM Ali Babacan says.

Deputy PM: Turkey shines out among OECD countries

World Bulletin / News Desk

Turkey shines out among Organization for Economic Co-operation and Development (OECD) countries since it has managed to decrease the income disparity, Turkish Deputy Prime Minister Ali Babacan said in his speech at the Turkey-Luxembourg Business Forum in Istanbul on Thursday.

"Turkey's middle-class and markets are rapidly growing and progressing. Our young population possesses high income rates, however we are also careful to proceed with precaution," stressed Babacan. "Because high consumption can strain foreign economical balances. We are trying to hold the consumption growth on a certain balance."

"We are ready to cooperate with the Luxembourg Finance Center and learn from each other," added Babacan.

Babacan noted that Luxembourg is providing huge support for Turkey's European Union (EU) membership and the two countries are proactive in a lot of European structures.

Luxembourg is among the founders of the EU and is also one of the most important European financial centers. The volume of trade between Luxembourg and Turkey is almost 250 million dollars, and is expected to increase with recent cooperation between the two countries.

Grand Duke Henri of Luxembourg has been visiting Turkey since November 18 with a delegation of businessmen, and is expected to depart on November 22.

Last Mod: 21 Kasım 2013, 16:46
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