Tuzmen: Decrease In Foreign Exchange Rates Has To Be Balanced By Reducing Interest Rates

ISTANBUL - State Minister Kursat Tuzmen said on Saturday that the decrease in foreign exchange rates had to be balanced by reducing interest rates.
Responding to questions of journalists during Istanbul Industry Forum meeting, Tuzmen said that ''I think that exporters should be encouraged by reducing the interest rates. Foreign exchange will float and come to a balance. We'll see that balance soon.''
Tuzmen said that the change in Euro-Dollar parity was important for increase in exports, adding that ''there is a real increase of 17 percent in our exports...The real increase in exports is important for us.''
Replying to questions regarding Iraq, Tuzmen said that Turkish businessmen continued their contacts with Iraq even during the war and export continued from both Mardin and Gaziantep free zone during the war.
Tuzmen said that Turkey was more fortunate than other countries in Iraq with which it had language, religious, brotherhood and cultural ties.
When asked whether Turkish firms would be given enough opportunity in rebuilding of Iraq, Tuzmen said that Turkish firms were already continuing their export connections with Iraq and Turkey had never stopped its activities.
Upon a question regarding the lifting of embargo on Iraq, Tuzmen said, ''lifting of embargo is in favor of Turkey. We will further increase our trade with this country which we have deep relations and do not have any problems.''
When asked whether he would pay a visit to Iraq, Tuzmen said that he would pay a visit later, Turkey's trade consulate opened 15 days ago and studies were continuing there, adding that programs with all neighbour and surrounding countries would continue.
(ÖS-GC) 24.05.2003