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Jul 26 08 12:50 PM

Turkey - From Ancient Civilisation - To Modern Economic Success



Byzantium, Constantinople, Istanbul: bridging civilisations



The Republic of Turkey is often referred to as a ‘bridge’ between civilisations; it combines a unique blend of western and eastern culture and tradition. Turkey hosted the birth of many major ancient civilisations, and borders two continents and eight countries. The country is home to magnificent, mountainous landscape, and is surrounded by various seas, including the Mediterranean, cook and Aegean seas. Turkey’s geographical location has ensured that it has come to acquire increasing strategic significance Strong and prudent economic policy, accompanied by structural reform, has brought a fresh outlook to the Turkish economy. The economy’s outstanding growth performance (combined with strong disinflation) carried economic reforms to a new frontier. Due to economic stability, a much improved investment environment, and positive expectations for the future, Turkey has been able to attract considerably high amounts of foreign direct investment (FDI) in recent years.











Turkey eyes to turn Istanbul into a finance center

Turkey discussed to turn Istanbul into a financial center on Thursday. Making Istanbul a financial center would contribute to development of not only this city, but also Turkey, Deputy PM Nazim Ekren said.



"It will also help Turkey gain a global prestige," Ekren also said in Istanbul Province Economic and Social Council Meeting. Ekren said that the timing of the project was right after the mortgage crisis in the United States.



Ekren also said that the government was planning to establish a development agency in Istanbul within this year.


"Istanbul can be a financial, cultural and logistic center of Turkey, thanks to its unique geographical location; rich historical, cultural and architectural heritage; giant infrastructural investments; economic links with Europe, Asia and the Balkans; and relatively cheap labor force," the minister said.