Moscow competing with Istanbul finance center

The Russian deputy minister said Russia is in competition with Turkey in finance.

Moscow competing with Istanbul finance center

World Bulletin/News Desk

Regarding Istanbul's goal of being an international finance center, Russian Deputy Finance Minister Sergei Storchak said that Russia is competing with Turkey in finance.

“Abu Dhabi, Istanbul and Moscow are in the same time zone. We will thus keep on in rivalry,” Storchak told Turkish press on Wednesday.

Storchak said they were closely following Istanbul in terms of finance.

He said they accelerated the attempts to make Moscow an international finance center, and pointed out that the economies of Turkey and Russia were highly integrated.

"We have strong relations especially in the Black Sea region," said Storchak, adding, "we need to determine which mutual financial instruments and banking activities we can create."

Stating that the project of making Moscow an international finance center comprised of several steps, Storchak said, "we first would like to turn Moscow into an international finance center. Later, the step of making it a global finance centre will come." 

Last Mod: 08 Mayıs 2013, 13:33
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