Turkey prepares for crucial summit
Güncelleme Tarihi:
by Barcin Yinanç
Oluşturulma Tarihi: Şubat 25, 2009 00:00
ISTANBUL - The British government is asking Turkey, together with all G20 countries, to arrive with concrete proposals at the April summit of the world’s leading economies. Measures needed for a better economic structure will be discussed
Britain is pushing Turkey, along with other G20 countries, to prepare for a crucial summit in London in April that will bring leaders of the world’s largest economies together to discuss exit strategies for the global financial crisis.
The G20’s first "crisis summit" in November, following the first wave of the global economic meltdown, ended without a concrete outcome, and Britain has rolled up its sleeves to ensure the next summit is more successful and yields tangible results. The British government, which holds the rotating presidency of the G20, has asked members to speed up preparations and prepare concrete proposals.
"There are lots of questions on how to handle the economic crisis, on how the future of world economy should take shape. We also want some answers to those questions," said Claire Phillpotts, briefing a small group of journalists on the summit.
The British government seems eager to raise awareness among the participant countries on the need to act in unity on the international level.
As the Turkish government’s focus is on the local elections, nongovernmental organizations are mobilizing for brainstorming exercises ahead of the summit. A conference will be held in mid-March in Istanbul with the participation of all interested parties including nongovernmental organizations such as the Turkish Industrialists' and Businessmen's Association and Turkish Union of Chambers and Commodities Exchanges.
Host of the meeting
The conference will be hosted by the British Embassy together with Global Political Trends, a think tank within the Kültür University in Istanbul. London has been encouraging similar activities in all G20 countries.
As a country that survived a big economic crisis in 2001, Turkey has a lot to say, according to Phillpotts, who said the Turkish Treasury has been actively participating in the work groups set up for the preparation of the summit.
The first group is working on enhancing sound regulation and strengthening transparency, while the second group is tasked with looking at ways to reinforce international cooperation and promote integrity in financial markets. The third group is tasked with the difficult job of coming up with ways to reform the IMF as it will prove quite a challenge to find a consensus on the subject on the world’s leading economies. The forth group is working on reforms for the World Bank.
Prime Minister Recep Tayyip Erdoğan, Economy Minister Mehmet Şimşek and Durmuş Yılmaz, governor of the Central Bank, will attend the summit that will take place April 2.
The G20’s first "crisis summit" in November, following the first wave of the global economic meltdown, ended without a concrete outcome, and Britain has rolled up its sleeves to ensure the next summit is more successful and yields tangible results. The British government, which holds the rotating presidency of the G20, has asked members to speed up preparations and prepare concrete proposals.
"There are lots of questions on how to handle the economic crisis, on how the future of world economy should take shape. We also want some answers to those questions," said Claire Phillpotts, briefing a small group of journalists on the summit.
The British government seems eager to raise awareness among the participant countries on the need to act in unity on the international level.
As the Turkish government’s focus is on the local elections, nongovernmental organizations are mobilizing for brainstorming exercises ahead of the summit. A conference will be held in mid-March in Istanbul with the participation of all interested parties including nongovernmental organizations such as the Turkish Industrialists' and Businessmen's Association and Turkish Union of Chambers and Commodities Exchanges.
Host of the meeting
The conference will be hosted by the British Embassy together with Global Political Trends, a think tank within the Kültür University in Istanbul. London has been encouraging similar activities in all G20 countries.
As a country that survived a big economic crisis in 2001, Turkey has a lot to say, according to Phillpotts, who said the Turkish Treasury has been actively participating in the work groups set up for the preparation of the summit.
The first group is working on enhancing sound regulation and strengthening transparency, while the second group is tasked with looking at ways to reinforce international cooperation and promote integrity in financial markets. The third group is tasked with the difficult job of coming up with ways to reform the IMF as it will prove quite a challenge to find a consensus on the subject on the world’s leading economies. The forth group is working on reforms for the World Bank.
Prime Minister Recep Tayyip Erdoğan, Economy Minister Mehmet Şimşek and Durmuş Yılmaz, governor of the Central Bank, will attend the summit that will take place April 2.