Turkey will overcome first wave of crisis
Posted by meb at November 11th, 2008
Jean Maurice Verbois, the economy undersecretary of the French Embassy in Ankara, said yesterday he believed that Turkey will withstand the first wave of the current financial turmoil. “Turkey has a well-established banking system,” he said, adding that public expenditures are also balanced in Turkey.
Verbois visited the Bursa Trade and Industry Chamber (BTSO) yesterday along with 26 other economic councilors from EU countries to evaluate the current position of Turkish economy against the crisis. He said Turkey will not be spared from the crisis but that the negative effects will not be as harsh as in many other countries. “The Turkish automotive sector will be hit by the crisis since the demand in the global auto market has decreased a lot,” he said.
Verbois also said investors all over the world think twice before investing, but he expected that foreign investors will not abandon Turkey. “They may hesitate or delay their projects, but one way or another they will come back and realize their projects in Turkey,” he said. Regarding the issues Turkish businessmen face when obtaining visas from EU countries, Verbois said France supported Turkish entrepreneurs and suggested that the businessmen apply to the French embassy if they have visa problems.
source: Today’s Zaman
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