ROME - Turkish Minister of Industry and Trade Ali Coskun has stated that, based on new structural arrangements, Turkey has become a prominent economic power. ''With its democratic government foundation and its insistence on international cooperation, Turkey has become a trusted partner'' he said.
Minister Coskun has remarked that, as one of the European Union's (EU) leading countries in politics, economics and social policies, Italy's support to Turkey is very well appreciated. ''We are proud of our ties with Italy. We have full confidence that the political, economic and social ties with our Italian friends will rapidly develop in the upcoming months'' he added.
According to Coskun, Italy is one of Turkey's major economic partners. ''As of 2004, Turkey's exports to Italy were worth 4.6 billion U.S. dollars annually. In the same period (2004), imports from Italy constituted 6.8 billion U.S. dollars. Italy is the fifth biggest market for Turkish products. Italy ranks as the third biggest market from which Turks import goods,'' indicated Coskun.
Coskun expressed that most bureaucratic red tape has been eliminated in the Turkish economy. ''For example, in the past, establishing a private company required 19 stages and at least 3 months. Today, Turkish nationals can form a new business in only 3 stages and 2 hours,'' commented Coskun.
Coskun also stated that domestic and foreign investors in Turkey are under the protection of Turkish laws and regulations that are designed to protect the competitiveness of all companies involved. ''Turkey is very close to reaching the economic criteria as was presented in Maastricht. With the recent political and commercial reforms, Turkey has fulfilled its obligations as listed by the Copenhagen criteria'' indicated Coskun.