London seeks to benefit from Istanbul's IFC bid via partnership

The deputy mayor of London for Business and Enterprise expressed that London understands it cannot compete in the international financial market alone, adding that London and İstanbul could cooperate to bring İstanbul's IFC bid to life.

London seeks to benefit from Istanbul's IFC bid via partnership

World Bulletin/News Desk                        

Kit Malthouse, the deputy mayor of London for Business and Enterprise, expressed on Tuesday that the key word in the new global order is partnership and London now understands that it cannot compete in the international financial market alone, adding that London and İstanbul could cooperate to bring İstanbul's international finance center (IFC) bid to life, providing a gateway for UK capital to nations in the Gulf and Africa.

Speaking on a panel session titled “City Planning Vision of International Finance Centre İstanbul” organized by the Independent Industrialists and Businessmen's Association (MÜSİAD) in İstanbul, Malthouse remarked that exports are London's new focus, saying: “We need emerging sister cities like İstanbul to expand trade, implement new infrastructure projects and bring small and medium enterprises in both cities together for profitable partnerships.”

He emphasized that İstanbul's dynamism has impressed London and the city is ready to pass on its experience for İstanbul's IFC plan to succeed. “We view İstanbul as a partner and not competition. We will funnel capital in London to İstanbul's IFC which can be used to finance projects in the Gulf region and Africa.”

Malthouse also pointed out that while establishing London's financial district, the transportation system was not given enough attention, noting that İstanbul's efforts to ease transportation in the city is remarkable as planning places significant emphasis on transportation.

“London is at the crossroads of capital while İstanbul is at the crossroads of trade. We could work together in a lot of ways at the country level, the city level and the business level,” he said, adding that İstanbul is also a great place to live in and for newcomers to benefit from.

Meanwhile, he also noted the significance of legal and insurance companies being centered around İstanbul's IFC, saying that London is ready to provide assistance in this area as well as in its expertise in financial services.

Last Mod: 15 Mayıs 2013, 09:58
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