Turkish State Minister and EU chief negotiator Ali Babacan told an OECD Forum on International Investment in Istanbul that political and economic stability are essential prerequisites for attracting investors to Türkiye.
Speaking at the forum, Babacan noted that investors seek reliable long-term projections, and argued that Türkiye's EU accession process helps answer questions about the country's direction over the coming decade. He also said that regulatory barriers between domestic and foreign investors have been fully removed, making it easier to establish a business in Türkiye.
Babacan cited rapid growth in foreign direct investment: inflows rose from $2.8 billion in 2004 to $9.7 billion in 2005, and reached $12.3 billion in just the first eight months of 2006. He said Türkiye ranked seventh globally in attracting foreign capital in 2005 and expressed hope of reaching fifth or sixth place by year's end.
Babacan added that democracy, human rights, rule of law, and freedoms all strengthen Türkiye's investment environment. He noted that senior Turkish officials plan to meet the International Investment Advisory Council for the fourth time the following spring.
OECD Deputy Secretary General Richard Hecklinger described Istanbul as the organization's second capital after Paris, calling Türkiye "a bridge straddling Central Asia and Middle East."
Historical summary. TurkishPress restated this wire report, first published in November 2006, in its own words.