Turkey wants to be in on US, EU free trade

Turkey wants to be in on US, EU free trade

WASHINGTON - Anatolia News Agency
Turkey wants to be in on US, EU free trade

Turkish Deputy Prime Minister Ali Babacan. AA photo

The Transatlantic Trade and Investment Partnership process currently being negotiated between the United States and the European Union is a historical step that is supported by Turkey, Deputy Prime Minister Ali Babacan has said, while adding that Ankara does not want to be excluded from the deal.

Speaking during a dinner held April 17 by the U.S. Chamber of Commerce, the last stop of a U.S. visit, Babacan said Turkey had been experiencing a very critical transformation process.

He said reforms that had been undertaken by Turkey had become a source of inspiration for the region. The Turkish Lira is currently the most stable currency among developing countries, he said, adding that public debt and the banking system – the most fragile fields for most countries – were a strength for Turkey, meaning that the impacts of the latest global crisis on the Turkish economy had been largely limited.

Turkey ‘center for foreign investments’

Babacan said Turkey had become a center for foreign investors who would like to invest not only in Turkey but also in the broader neighborhood. Turkish-American relations were very strong in politics and defense but that the commercial and economic ties were weak, he added.