Turkey wants more ties with developing world

ANKARA - Anatolia News Agency

Economy Minister Zafer Çağlayan (R) attends an investment meeting in Dubai. AA photo

Economy Minister Zafer Çağlayan said yesterday that developing countries would be responsible for 60 percent of the global economy in the next 10 years and that Turkey was therefore paying great attention to developing economic and political cooperation with them.

In a statement released yesterday, the Turkish Economy Ministry said Çağlayan had been addressing the participants of an Investment Meeting in Dubai.

Çaglayan said that despite the economic crisis in European Union countries and the “Arab Spring” in the Middle East and North Africa, Turkey had broken a record in exports in 2011.

$110 billion in FDI
Turkey attracted $110 billion of foreign direct investments over the past nine years, thanks to confidence and stability in the country, he said, adding that the country - which is a manufacturing hub for many international firms - offered great opportunities to investors.