Turkey's economy minister expects the country's trade volume to reach $350 billion in 2008 as the country receives a higher share from global commerce by integrating global markets and economies.
"Turkey's trade volume in 2002 was $87 billion. Seemingly, the trade volume of Turkey would reach to $300 or $350 billion in 2008. Turkey is rapidly receiving a higher share from global commerce," Mehmet Simsek said on Thursday, at the Global Economic Symposium at the Plon Castle in Germany.
Simsek also said that Turkey was integrated into global financial markets and economies to a large extent.
However Simsek said that this integration had also negative side effects. "There are consequences of being integrated with the world. As you may understand, a problem in real estate in the United States causes global problems. Increasing energy prices in the world affects all nations," he added.
"Most problems experienced by Turkey are due to a global crisis. For example, had the prices of natural gas, oil and metal products not been so high, Turkey's current account deficit and inflation would have been less and the growth rate of Turkey could have been greater." |
