TURKEY’S TUZMEN: CRISIS EFFECT ON STOCK MARKET MINIMUM

Thursday, 09 October 2008 10:06
Turkey

Turkish State Minister stressed that Turkish exports to the
U.S. dropped recently as the Turkish lira gained value and competition
from the far east increased.

Turkish State Minister Kursad Tuzmen said Wednesday that Turkey would
go through the global economic crisis with minimum damage based on
its stock exchange and size of businesses that were not too big.

Speaking at an NGO in Atlanta, Tuzmen stressed that Turkey must pursue
trade focusing on "high price, high quality and high technology".

"Last year, foreign capital worth 22.2 billion USD entered Turkey,"
Tuzmen said.

Touching on Turkish-U.S. commercial relations, Tuzmen stressed that
Turkish exports to the U.S. dropped recently as the Turkish lira
gained value and competition from the far east increased.

"Nevertheless, Turkey and the U.S. pursue similar ideals
globally. These are peace, democracy, freedom, welfare and the fight
against terror," Tuzmen said.

Tuzmen inaugurated the "Year of Turkey" at the Kennesaw State
University in Atlanta.

Speaking at the ceremony, President of Kennesaw State University
Daniel Papp said that they wanted their students to get to know Turkey,
a country with which the U.S. had close relations.

The "Year of Turkey" will be celebrated at Kennesaw State University
with various activities and it will end in May 2009.

Tuzmen later visited the headquarters of Coca Cola company in Atlanta.

In reference to Muhtar Kent, the CEO of Coca Cola, Tuzmen said that
"it is highly pleasing to see a Turk in a high position as Kent."

Kursad Tuzmen attended a dinner hosted in his honor by the
U.S. Southeast Turkish-American Chamber of Commerce (TACC).

Answering a question at the dinner, Tuzmen stressed that unless the
issue of Upper Karabagh is resolved, Turkey will not develop commercial
relations with Armenia.