Babacan: We Want More Investment, More Mutual Trade And Economic Co-operation In Iraq From The United States

WASHINGTON D.C. - State Minister Ali Babacan has said on Thursday, ''during our meetings with U.S. officials, we wanted more investment, more mutual trade and economic co-operation in Iraq.''
Responding questions of journalists, Babacan, who is accompanying Prime Minister Recep Tayyip Erdogan during his visit to the United States, said, ''we have held very beneficial meetings in the United States in the last four days. Both sides were satisfied with these meetings. Yesterday, we met with U.S. President George W. Bush, World Bank President James Wolfensohn, U.S. Secretary of Treasury John Snow and International Monetary Fund (IMF) Managing Director Horst Koehler. They expressed their pleasure with positive developments in Turkish economy.''
When asked whether or not Turkey would use the loan of 8.5 billion U.S. dollars to be given by the United States, Babacan said, ''for the time being, there is no need for the loan. However, we do not say that we will not take it. During the meeting, U.S. Secretary of Treasury Snow said that the loan was ready. Turkey will use the loan whenever it needs. U.S. officials appreciate improvement of Turkish economy.''
''During our meetings with U.S. officials, we wanted more investment, more mutual trade and economic co-operation in Iraq. There are many opportunities for Turkish and American businessmen in the region,'' he said.
Stating that U.S. businessmen were not very familiar with making business in Iraq and the region, Babacan said that on the other side, the United States had an influence and capital in this country. Babacan said that Turkish businessmen were capable of making business in Iraq and added that there would be good cooperation between Turkey and the United States in Iraq. Babacan said, ''we should bring cooperation in economic field to the level of cooperation in military and political fields between the two countries.''
When asked whether or not Turkey would need continuation of programs of IMF after 2004, Babacan said, ''a decision has not been taken on this issue yet. We will decide on the issue in mid-2004. It seems that Turkey will not need such a program including loan after 2005. But there are also many other formats for working with the IMF.''
Babacan said that Koehler and Wolfensohn told Prime Minister Erdogan that they would come to the Investor Council which would be held in Istanbul on March 15 and added that the meeting targeted foreign investors to take into consideration Turkey.
(UK-EÖ-AÖ) 29.01.2004