Turkey wants to be in on US, EU free trade

WASHINGTON - Anatolia News Agency

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.