Flow Of Direct Capital Into Turkey Will Decrease In 2008, Babacan

ANKARA - Turkey`s Foreign Minister said that "the flow of direct capital into Turkey will decrease in 2008".
Speaking to a group of journalists on the way to Ankara from Oman, Foreign Minister Ali Babacan said that "undoubtedly, the global economic fluctuation will have an impact on the flow of direct capital into Turkey. Developments in Turkey`s domestic issues will also have an impact on capital flow into Turkey".
Direct capital that entered Turkey in 2007 was 22 billion USD, Babacan said.
Reminded about the issue of headscarf in Turkey, Babacan stressed that "sooner or later, this issue would have come to Turkey`s agenda. Turkey could not continue with such a ban on headscarves in universities".
In regard to Turkey`s EU process, Babacan noted that Turkey developed a new strategy after eight chapter headings were blocked due to Cyprus issue at the beginning of 2007.
"We will make 188 new laws and make 576 secondary adjustments by the year 2013," Babacan said.
Touching on his visit to Oman on Saturday, Babacan said that Turkish contractors assumed projects worth two billion USD in Oman. "I have tried to secure new projects for Turkish businessmen in Oman," Babacan emphasized.
"The Turkish-Omani business council convened twice last year. We have signed agreements with Oman to prevent double taxation and preserve mutual investments. We requested closer relations in the issue of security and invited the defense minister of Oman to Turkey," Babacan said.
"Oman is helpful on the topic of Cyprus. Turkish Republic of Northern Cyprus (TRNC) will soon open a representation office in Oman. Oman supports Turkey`s EU process," Babacan said.
"We must develop our relations with the Gulf Cooperation Council (GCC), a body comprised of six countries. We are working on a free trade agreement with the GCC," Babacan also said.
(SOL-GC)