10/27/2008

“Economic stagnation not expected in Turkey”

Today’s Zaman - World Bank Turkey Director Ulrich Zachau said that he does not expect stagnation in the Turkish economy. Speaking at the Organization of the Islamic Conference's (OIC) Economic and Commercial Cooperation Permanent Committee (ISEDAK) meeting in Istanbul, Zachau stated that there will be no stagnation in Turkey, which has strong trade ties with the US and the European Union, noting however that the growth rate of the country will decline. Turkey's Investment Support and Promotion Agency (ISPAT) President Alpaslan Korkmaz said Turkey has attracted more foreign investments in the last five years than it did in the last 30 years combined. "Turkey has attracted $60 billion in foreign investment in the last five years, and this trend should continue” he stated.

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