ISTANBUL (A.A) - 22.05.2002 - State Minister Kemal Dervis said on Wednesday that Istanbul was becoming one of the most important global centers of the world.
Making opening remarks of the 27th annual conference of the International Organization of Securities Commissions (IOSCO) hosted by the Capital Market Board in Istanbul, Dervis expressed his opinions about globalization which was the main theme of the conference. Stressing that there could not be any return from the globalization process, Dervis said that Istanbul and Turkey had gained a more powerful global position after removal of the Iron Curtain.
Noting that Istanbul had always been a natural economic capital city for centuries and constituted a bridge in the region, Dervis said, ''now, it has regained this role after the 1990s. It is getting stronger. Istanbul is becoming one of the most important global centers of the world. The more powerful Turkish economy is, the more powerful Istanbul's role is. Istanbul played this role historically and it will be playing it in the future.''
Stressing that there could not be any return from the globalization process, Dervis said that dynamism of globalization had currently changed.
Noting that trade volume was gradually increasing, Dervis said that forty percent of trade was industrial products and this was a factor organized by multinational organizations.
IF THERE IS NO CRISIS TURKEY CAN EASILY REACH ECONOMIC GROWTH OF 7-8 PERCENT
Dervis said that if there is no economic crisis and no economic imbalance, Turkey can easily reach the economic growth of 7-8 percent.
Dervis said that a majority of the developing markets had financial crisis in the last 20 years showing Korea, Mexico and Turkey as an example.
''Turkish economy and private sector is very dynamic. However as the macroeconomic environment and the institutional environment are not that strong, Turkey can be under the influence of crises from time to time. We must create transparent institutions to prevent that,'' he said.
''The population in Europe gets older. This population has to have a young demographic structure. This is Turkey,'' said Dervis.
Reminding about his visits to Renault, Toyota and Bosch factories, Dervis said that ''I asked three of them, why they were in Turkey and why they chose Turkey. Three of them told me the same thing: 'We find young, dynamic and successful labor force in Turkey.' These words reflect the message I want to give. Turkey has advantages in many industries.''
Upon a question, Dervis said that the decree on the Telecommunication Supreme Board would be signed the same day.