PM ERDOGAN: "INTERNATIONAL INVESTORS ARE FLOCKING TO TURKEY"
Investors worldwide are flocking to Turkey, a stable country whose credit rating has just been upgraded by a major agency, said Prime Minister Recep Tayyip Erdogan yesterday. Citing Moody's upgrade of Turkey's rating outlook from stable to positive, Erdogan told a meeting of his Justice and Development Party (AK Party) that the government's responsibility is to create and maintain a groundwork for stability and trust, adding that as long as this is done, all other issues fall in line. "As you see, today Moody's increased Turkey's rating outlook from stable to positive," he said. "Investors accelerate their investments in an environment of stability and trust. Foreign investors are flocking to our country." /Sabah
ERDOGAN, MERKEL TO DISCUSS TERRORISM, TURKISH IMMIGRANTS
Prime Minister Recep Tayyip Erdogan is set to discuss the issues of terrorism and Turkish immigrants in Germany with his German counterpart Angela Merkel on Friday when he visits Berlin to watch a Germany-Turkey 2012 UEFA European Football Championship qualifying match. Diplomatic sources say Merkel and Erdogan will meet to discuss cooperation to avert the threat of terrorism, the Anka news agency reported yesterday. The sources added that Berlin is increasingly concerned over recent US and British warnings of a heightened risk of terrorist attacks in Europe. Turkey is said to have requested that German authorities crack down on the terrorist PKK's financial resources and show solidarity with Turkey in the fight against terrorism. Foreign Minister Ahmet Davutoglu and his German counterpart Guido Westerwelle will also meet on the sidelines of the Merkel-Erdogan talks. Merkel and Erdogan will also reportedly discuss the integration of Turkish immigrants into German society as well as German President Christian Wulff's upcoming visit to Turkey. /Today's Zaman/
PM ANNOUNCES FIRST TURKISH SATELLITE TO BE LAUNCHED IN 2012
Turkey plans to launch its first intelligence gathering satellite into space in 2012, Prime Minister Recep Tayyip Erdogan said on Tuesday. Speaking to fellow members of his ruling Justice and Development (AK) Party, Erdogan said the Gokturk intelligence satellite will ease Turkey's reliance on US intelligence in its operations against the terrorist PKK, which launches attacks on Turkish military targets from bases in northern Iraq. The satellite is being developed by Turkish defense contractor Aselsan and Telespazio, a division of Italy's Finmeccanica. /Hurriyet Daily News/
TURKEY, US TO STRENGTHEN "MODEL PARTNERSHIP" DURING CAGLAYAN'S MID-MONTH VISIT
The main aim of Foreign Trade Minister Zafer Caglayan's upcoming visit to the United States is to strengthen trade within the framework of their bilateral "model partnership" as declared by US President Barack Obama during his April 2009 visit to Turkey. Caglayan is scheduled to fly to Washington on Oct. 17 where he will have talks before proceeding to New York and then Canada. "A new business council will be established within the framework of the model partnership. This is not an alternative to TAIK [the Turkish-American Business Council]," Caglayan recently told reporters. During Prime Minister Recep Tayyip Erdogan's visit to Washington last December, the two allies launched an initiative to boost trade and investment ties. The US-Turkey Strategic Economic and Commercial Cooperation dialogue was inaugurated by US Trade Representative Ron Kirk and Commerce Secretary Gary Locke with their Turkish co-chairs, Caglayan and Deputy Prime Minister Ali Babacan. "We asked for names from TUSIAD [the Turkish Industrialists and Businessmen' Association], MUSIAD [the Independent Industrialists and Businessmen's Association], and TOBB [the Turkish Union of Chambers and Commodity Exchanges] in 12 product areas," said Caglayan. "The US has already picked eight names, and we will also choose eight, to make up a 16-member council." /Today's Zaman/
RUSSIAN, TURKISH FIRMS VOW TO BOOST TRADE TIESThe Turkish Confederation of Businessmen and Industrialists (TUSKON) and the Russian Federation's Chamber of Commerce and Industry (RF CCI) on Monday signed a deal to pursue partnership opportunities to boost bilateral trade to $100 billion within five years, a goal set this January by Prime Minister Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin. The signing ceremony was held at RF CCI headquarters in Moscow between the group's head Yevgeny Primakov and TUSKON head Riza Nur Meral. The main goal of the deal is to increase cooperation in commercial relations by facilitating business meetings, mutual visits, and special gatherings to explore business opportunities between businessmen from both countries. Speaking at the ceremony, Primakov praised recent trends in Russian-Turkish trade ties, saying: "We had been worried following a decline in trade in 2009 due to the global financial crisis, but the 2010 figures were promising. There has also been a sharp increase in the number of tourists from Russia visiting Turkey. In addition, total investments by Turkish companies in Russia have already surpassed $6 billion. More and more Turkish industrialists are setting up investments across Russia, and they are paying large amounts of value-added tax [VAT]. We look on all this favorably." Also speaking at the ceremony, Meral shared his intentions and enthusiasm for the deal, which he said would greatly benefit both the Russian Federation and Turkey while also improving bilateral ties. "We're putting a lot of effort into energizing relations and have already started seeing results," he said. "Trade rose 43.7 percent year-on-year in the first seven months." Stressing the significance of economic cooperation in the Black Sea basin, Meral said it is the second-fastest growing region after Asia-Pacific. He also asked for support from the RF CCI in organizing the commerce section of a Black Sea Economic Cooperation Council (BSECC) meeting next month under TUSKON auspices. /Today's Zaman/
MOODY'S UPGRADES TURKEY'S RATING OUTLOOK TO POSITIVE
Citing improvements in Turkey's economy and debt management, international credit rating agency Moody's Investors Service this week increased the outlook of Turkey's Ba2 local and foreign currency bond rating to positive from stable. "Turkey's economy has proven to be unexpectedly robust and has recovered to pre-crisis levels," said Sarah Carlson, Moody's vice president-senior analyst and lead sovereign analyst for Turkey, in a report yesterday, underlining that the country's budget deficit and debt stock have improved beyond targets in the government's medium-term economic program. The Turkish government and private sector have long been critical of the attitude of major credit rating agencies, saying many have unfairly avoided raising Turkey's credit rating to the proper level. After long refusing to adjust Turkey's credit rating, Moody's upgraded Turkey to Ba2 in January, still two levels below investment grade, while US agency Standard & Poor's raised its ranking in February to BB. Last December Fitch raised its rating to BB+, one step below investment grade. /Today's Zaman/
DAVUTOGLU'S WIFE TO VOLUNTEER AS DOCTOR IN FLOOD-STRICKEN PAKISTAN
Physician Sare Davutoglu, the wife of Foreign Minister Ahmet Davutoglu, is set to spend two weeks in flood-stricken Pakistan as a health care volunteer. Dr. Davutoglu, a gynecologist, announced her volunteer work this week at a charity dinner of an association of Foreign Ministry spouses which raised 600,000 Turkish liras, including 30,000 TL from Davutoglu herself. /Turkiye/
RASMUSSEN TO VISIT FOR TALKS ON NEW DIRECTION FOR NATO
NATO Secretary-General Anders Fogh Rasmussen is due to visit Turkey this week for talks with Prime Minister Recep Tayyip Erdogan and Foreign Minister Ahmet Davutoglu that are expected to focus on the alliance's new strategic concept. Rasmussen's visit comes as NATO considers updating its 1999 strategic concept to address the defense concerns of the 21st century. A draft of the document, prepared by a team of experts appointed by Rasmussen, is expected to be discussed at a summit of the alliance next month in Lisbon. Experts say that even if agreement is reached on the document at the summit, implementation of the new strategy will take time, as it needs to be approved by each of the 28 member states. Copies of the draft were distributed to member states, including Turkey, last week, setting into motion negotiations on what the final version should look like. /Today's Zaman/
TURKEY TO ATTEND OECD TOURISM MEETING IN JERUSALEM
Turkey will be sending a high-level official to Israel for a biannual tourism conference later this month, Culture and Tourism Ministry officials said Tuesday. Ankara's participation in the conference on sustainable tourism is seen as surprising amid continuing political tension between Israel and Turkey, following Israel's raid on a Gaza-bound aid flotilla this May which left nine Turks dead. Deputy Culture and Tourism Undersecretary Ozgur Ozaslan will represent Turkey at the Organization for Economic Cooperation and Development (OECD) conference on Oct. 20-22. Diplomatic sources said that dialogue between the two countries is continuing through various channels amid a political environment that doesn't allow public meetings between Turkish and Israeli politicians. /Hurriyet Daily News/
BOSNIA'S IZETBEGOVIC: "TURKEY IS LIKE A WISE BIG BROTHER TO US AND THE REST OF THE BALKANS"
Bosnia sees Turkey as a smart big brother both to itself and the Balkan region in general, said Bakir Izetbegovic, the Bosnian member of Bosnia Herzegovina's Presidential Council, yesterday. "We see Turkey as a big brother who is strong and wise," said Izetbegovic, the son of late Bosnian President Alija Izetbegovic. "It helps both Bosnians and other people in the Balkans." Saying that Turkey's involvement in the region is welcome, he added, "Turks loved my father very much. They called him 'Wise King.' And we love them back and from now on, we should pursue more concrete projects." /Sabah, Star/
ISTANBUL'S HAGIA SOPHIA AWARDED ITALIAN HONOR
The historic Hagia Sophia museum in Istanbul has been granted Italy's prestigious Rotondi Award to Saviors of Art for restoration work done at the museum. In a statement yesterday, the Culture and Tourism Ministry said the award is presented annually to individuals or institutions making contributions to cultural heritage. The award is presented in three categories - Italy, Europe and the world - and the 2010 Europe Award was presented to the museum's director, Professor Haluk Dursun. /Hurriyet Daily News/