Anadolu Agency: News in English, 01-02-06

Anadolu Agency: News in English Directory - Previous Article - Next Article

From: The Anadolu Agency Home Page at <http://www.anadoluajansi.com.tr/>

ANADOLU AGENCY

NEWS

06 FEBRUARY

2001 Tuesday

CONTENTS

[01] TURKEY-PRESS SCAN

[02] ANKARA DGM PROSECUTOR YUKSEL FILES A SUIT AGAINST

[03] GENDARME GENERAL COMMANDERSHIP SAYS

[04] TURKEY'S SUPPLEMENTARY LETTER OF INTENT ANNOUNCED

[05] 3.5 TONNES OF DRUG DESTROYED IN MARDIN

[06] TOURISM TAKES GOOD START IN ANTALYA

[07] U.S. AMBASSADOR TO TURKEY PEARSON: ''TURKEY HAS AN

[08] TREASURY UNDERSECRETARIAT:

[09] 1.4 BILLION U.S. DOLLARS IMF CREDIT TRANCHE

[10] TURKEY-EU RELATIONS

[11] TACKEN, CHAIRMAN OF AGRICULTURAL INVESTMENTS

[12] RED CRESCENT SENDS HUMANITARIAN AID TO INDIA

[13] OPIC DIRECTOR IN CHARGE OF DEVELOPING INVESTMENTS WITH

[01] TURKEY-PRESS SCAN

press on February 6, 2000. The Anadolu Agency does not verify these stories

and does not vouch for their accuracy.

HURRIYET (LIBERAL)

field, sent a delegation to Britain to investigate the foreign contacts.

According to the news of the CNN Turk TV Channel, the delegation headed by

Commander Yusuf Soybas, will make investigations about the financial aspect of

the operation. This visit came to the agenda as the gendarme forces found out

that some of the companies which were involved in the issue were based in

Britain. The involvement of the Russian mafia is another possibility that is

being examined by officials.

AKSENER, DYP KOCAELI DEPUTY SAYS TURKEY AND AZERBAIJAN SHOULD FURTHER
IMPROVE THEIR COOPERATION
Meral Aksener, True Path Party (DYP) Kocaeli deputy, said Turkey and

Azerbaijan should further imrove their cooperation in the region as an

alternative to the European Union (EU). This would strengthen the position of

both countries in Eurasia, added Aksener. The issue said Aksener, should be

discussed by politicians and academicians of both countries.

MILLIYET (LIBERAL)

leftist party- who wants to bring righists to his party started to change his

discourse. He will try to bring together a group of righist politicians and

businessmen who defend a synthesis between Islam and Turkish nationalism, in a

new formation. Baykal chose the words of ''science'' both in Turkish and

Arabic to name this formation as ''Bilim ve İlim.''

GENDARME IN BRITAIN
There is a new shocking development in the operation white energy which is

carried out by Talat Salk, the prosecutor of the State Security Court (DGM).

Sources said that a gendarme delegation headed by General Yusuf Soybas

went to Britain for an investigation. Salk said that the news about the visit

is true, yet it is not related with the operation.

SABAH (LIBERAL)

presented yesterday a supplementary indictment in closure case against the

Virtue Party (FP). In the supplementary indictment, Kanadoglu requested

closure of FP on charges of being successor of the banned Welfare Party (RP)

on the basis of footage related to the First Congress of the FP. The attempt

of Kanadoglu shocked the Virtue Party (FP).

DEATH PENALTY FORMULA OF BAHCELI
Devlet Bahceli, the leader of the Nationalist Movement Party (MHP) wanted

officials to include the statement saying that ''the parliament is authorized

in the issue of death penalty'' in the text of Turkey's National Programme for

the Adoption of the Acquis (NPAA). ''We can't accept education and

broadcasting in Kurdish language, because that can lead to a discussion on

federation,'' Bahceli said.

CUMHURIYET (LEFT)

French Consulate General in Istanbul. The security forces, which had taken

tight measures around the Consulate General for some time, stopped a person

who headed towards the building on Sunday night. Officials identified the

detainee as Fevzi Ozcelik.

TAX AMNESTY TO BE ADOPTED
The Council of Ministers decided yesterday to bring payment facilities to tax

payers in line with the studies of the Finance Ministry. This decision was

adopted in spite of the government's commitment of not adopting any tax

amnesty in the letter of intent sent to IMF and the press briefing of Finance

Minister Sumer Oral who also said that there wouldn't be any amnesty for tax

payers.

RADIKAL (LEFT)

of the coalition, said they would insist on the change in by-law of the

parliament. Some legislative studies should be carried out very quickly said

Ecevit adding that they would keep their attitude on the issue within the

framework of legal rules.

SOUTHEASTERN STUDENTS VISIT ISTANBUL AND IZMIR
The Air Forces Commandership took 36 students from various provinces of

southeast to Izmir and another group of students to Istanbul. The primary

school students who are hard working were chosen from southeast Diyarbakir,

Batman, Mardin and eastern Mus provinces for the trip. The students will visit

museums, historical sites and will go to cinemas, theatres within the

farmework of the visit.

TURKIYE (RIGHT)

living in Paris said the French parliamentarians have no knowledge both on the

Armenian issue and the history. Noting that the Turks who believed that the

French were their friends were disappointed, Osman said the relations between

the two countries would be damaged due to the attitude of the French

parliament.

SPRANGER, GENERAL MANAGER OF OPEL IN TURKEY SAYS THEY WON'T LEAVE TURKEY
Erhard Spranger, the general manager of Opel in Turkey said their decision to

close down their facilities in Torbali township of Aegean Izmir province

shouldn't be exaggerated adding that they will continue to stay in the

country. ''We just stopped the car montage in the factory,'' said Spranger.

Noting that Opel was ranked the seventh in Europe with their thirteen percent

market share in Turkey, Spranger said they climbe the steps just like

Galatasaray did.

ZAMAN (CONSERVATIVE)

behalf of party groups in the parliament to five minutes and limiting the

number of motions that can be submitted to the parliament. This consensus was

reached in the contacts of Parliament Speaker Omer Izgi with the acting group

leaders of political parties.

OPERATION WHITE ENERGY CONTINUES
Huseyin Cogalan, the former director of Turkish Electricity Production and

Distrbution Inc's (TEAS) Department of Various Energies was taken into custody

yesterday upon the instruction of Talat Salk, the State Security Court (DGM)

Prosecutor. Osman Ilhan, the acting director general of energy affairs and

Mustafa Mendilcioglu were also brought to DGM again.

-IMF MANAGING DIRECTOR AND CHAIRMAN KOHLER SAYS TURKISH GOVERNMENT'S
DETERMINATION IN IMPLEMENTING ECONOMIC PROGRAMME AUGURS WELL FOR
RETURN OF FULL MARKET CONFIDENCE
WASHINGTON, D.C. - Horst Kohler, Managing Director and Chairman of the

International Monetary Fund (IMF) said on Tuesday that the determination shown

by the Turkish government so far augurs well for the return of full market

confidence and for the success of the authorities' ambitious disinflation

program.

Following the meeting of the IMF Executive Board, which approved the fifth

review of Turkey's economic programme and giving 1.4 billion U.S. dollars part

of a new credit to Turkey, Kohler said:

''Policy implementation since the last Executive Board meeting has been most

encouraging. In particular, the Central Bank of Turkey has strictly

implemented the monetary policy framework laid out in their December 2000

Letter of Intent and important actions in the structural area have been

implemented during January.''

''On monetary policy, the Central Bank of Turkey has successfully mopped up

most of the excess domestic credit created during the crisis, thus helping to

restore market confidence as evidenced by the reduction in interest rates and

the increase in foreign reserves.''

''On banking, the recent decision to adopt a time-bound plan to resolve the

banks currently controlled by the Saving Deposit Insurance Fund that did not

elicit market interest should help restore confidence in the banking system.

The strengthening of regulations aimed at addressing sources of market risk is

similarly welcome.''

''Progress has been made also in other structural areas, including by

implementing key steps envisaged under the program to facilitate the

privatization of telecommunication, transportation, and energy sectors. In

light of the progress made, and of the authorities' reassurance that the

Electricity Markets Law would be enacted by mid-February, the Executive Board

approved the request of the Turkish authorities for a waiver of compliance on

the performance criterion relating to the enactment of this law.''

''Strict adherence to the monetary, fiscal and the structural reform program

is needed. The determination shown so far augurs well for the return of full

market confidence and for the success of the authorities' ambitious

disinflation program.''

[02] ANKARA DGM PROSECUTOR YUKSEL FILES A SUIT AGAINST

filed a suit on Tuesday against 16 members of the labour union founded in

judiciary field namely ''Tum Yargı-Sen'' for helping and abetting the illegal

terrorist organization DHKP-C.

Yuksel requested heavy imprisonment for the suspects changing from four years

six months to seven years six months.

The indictment prepared by Yuksel said that the terrorist organization namely

Revolutionary People's Liberation Party-Front (DHKP-C) started death fasts in

prisons when the state wanted to open F type prisons and associations which

support this terrorist organization outside started demonstrations.

''There was only one aim of these protests which was to prevent the illegal

organizations and armed gangs' losing control in prisons,'' the indictment

noted.

The indictment stressed that the labour union ''Tum Yargı-Sen'' extended

support to illegal organizations, adding that the labour union took part in

the fight to keep prisons under the control of gangs and terrorist

organizations.

The indictment also asserted that the labour union in question was not founded

to fight for the rights of their members, but to extend support to illegal

organizations.

The administrators of the labour union including its chairman will be tried at

Ankara State Security Court (DGM) No. 1.

-DNA TEST TO BE DONE TO PROVE MASSACRE COMMITTED
AGAINST TURKS BY ARMENIANS
ERZURUM - DNA test will be done to prove the cognation between those Turks

living in eastern Erzurum province and those who were killed by Armenians and

who were buried in mass graves.

If the DNA test is positive, Erzurum Bar will bring legal action against

concerned states.

Naci Turan, the Chairman of the Research Commission on Massacre of Armenians,

told A.A that after the adoption of the law on so-called genocide on Armenians

by the French parliament, cases could be brought against Turkey.

Noting that Armenians killed thousands of Turks in Erzurum and its

surroundings after the First World War, Turan said that ''unfortunately we

couldn't bring these massacres to the world agenda sufficiently.''

The proof of the massacre committed by Armenians are the mass graves found and

opened, he said adding that ''it is known that the people killed were Turks

and muslims, because their belongings were all Turkish and Islamic style

things.''

[03] GENDARME GENERAL COMMANDERSHIP SAYS

to discuss issues related to international crime and drug trafficking within

the scope of bilateral relations, and the visit is not related with the

operation ''white energy,'' Gendarme Commander's Office said on Tuesday.

Issuing a written statement the General Secretariat of the Gendarme

Commandership said that private television channel CNN Turk broadcast an

unreal news yesterday and claimed that Gendarme commandership sent a

delegation to Britain to investigate the dimensions of the operation ''white

energy'' related to energy field abroad.

''The delegation went to Britain on Feb 4, 2001 upon the official invitation

of the British Foreign Office dated Jan. 11, 2001 to discuss issues of

international crime and drug trafficking,'' it added.

[04] TURKEY'S SUPPLEMENTARY LETTER OF INTENT ANNOUNCED

announced on Tuesday after the latter approved the fifth review of Turkey's

economic programme and giving 1.4 billion U.S. dollars part of a new credit to

Turkey.

The letter is dated Jan. 30, 2001 and it was signed by Recep Onal,

Minister of State for Economic Affairs and Gazi Ercel, Governor of the Central

Bank.

Here is the letter which was addressed to Horst Kohler, Managing Director and

Chairman of the International Monetary Fund (IMF):

''1. The strict implementation of the strengthened policies described in our

Letter of Intent (LoI) of December 18, 2000-together with the support of the

international financial community-rapidly restored market confidence after the

financial turmoil in late 2000. We remain fully committed to the strategy laid

out in the December 18 LoI. That letter remains the main document outlining

our policies for 2001-02, which are here updated in some specific aspects in

light of recent developments. This update relates to: (i) monetary policy

implementation within the existing framework; (ii) the reform of the tobacco

sector; (iii) the rolling out of tax identification numbers (TINs); and (iv)

banking. We hereby also request completion of the fifth review under the Stand-by

Arrangement.

2. We will continue to manage monetary policy within the framework set forth

in the December LoI. The preannounced exchange rate path will remain the main

monetary anchor of the program. Within this constraint, the Central Bank of

Turkey (CBT) will manage monetary policy with the goal of maintaining an

adequate level of foreign exchange reserves, and, to the extent made possible

by our exchange rate commitment, of keeping monetary conditions at a level

supportive of our inflation target. The December LoI indicated that should

capital inflows be stronger than envisaged at that time, NDA would be kept

below its ceiling so as to avoid excessive money creation. This policy has

been strictly implemented in January, thus helping to restore confidence. The

CBT will continue to monitor developments in base money, and reduce NDA in

response to higher-than-projected capital inflows, keeping in close

consultation with Fund staff. Moreover, in light of the large margin of NDA

with respect to its ceiling that is expected to be registered at end- January,

we have revised downwards the NDA ceiling for the dates following January 31,

so as to increase the predictability of monetary policy . Correspondingly, the

NIR floors have been revised upward. The appropriateness of the NDA and of the

NIR floors will be reassessed during the forthcoming program reviews, in light

of developments in external accounts and inflation. NDA between test dates is

not expected to exceed systematically, or by large amounts, the ceilings set

for the test dates following January 31, except during the March religious

holidays (for which a more detailed indicative path for NDA will be discussed

during the February program review). In the event of significant deposit

withdrawals and in accordance with the protocol between treasury, the SDIF,

and the CBT, the latter is committed to provide liquidity to the affected

Savings Deposits Insurance Fund (SDIF) bank (banks), if needed to implement

the guarantee. Should this lead to a breach of the NDA ceiling, the CBT will

consult with the Fund staff to examine the factors behind the breach, and will

be committed to move NDA back within the ceiling with open market operations

immediately thereafter. Finally, in order to facilitate monetary management,

state banks will be more prompt in adjusting their borrowing rates to money

market conditions.

3. The reform strategy for the tobacco sector and the restructuring of TEKEL,

one of the main component in our agricultural policy reform and in our

privatization drive, is being strengthened with respect to the December LoI.

We will transfer the state monopoly agency (TEKEL) to the Privatization Agency

(PA), instead of transferring only its tobacco processing units. To this end,

a law-which will also reform the tobacco sector and phase out support

purchases of tobacco-will be enacted by end-February 2001 (a structural

benchmark).

4. As stated in the December LoI, strengthening tax administration is

essential to improve efficiency and equity of the tax system. Among other

steps, we have increased the number of TINs from 13 million at end-1999 to

15.2 million at end-2000. We intend to increase by 50 percent the number of

TINs from the end-2000 level by end-2002. To that end, the necessary tax

regulations will be enacted by end-September 2001 (a structural benchmark).

5. Regarding banking, the resolution of the SDIF banks is proceeding according

to schedule. The transition bank set up to reorganize the assets and

liabilities of the five banks that will have their license revoked will be

sold or otherwise resolved by end-September 2001 (a structural performance

criterion). The strategy for dealing with the remaining two banks taken over

by the SDIF after September 2000 is still being developed as information on

these banks is being refined. SDIF intends to sell the larger of these two

banks (Demirbank) using a &quot;fast track&quot; process, taking advantage of

substantial investor interest already expressed in this bank. The bidding

terms will be announced by end-January 2001 and will be followed by a brief

due diligence process; after that we expect to complete a speedy sale. In the

case of the remaining bank, the SDIF will follow the same sales process used

for the banks taken over before October 2000 but with a two-month time lag.

Regarding bank regulation, a new regulation meeting EU standards that defines

direct and indirect ownership relationships in connected lending is still

being discussed with the banking industry and is expected to be introduced by

end-February 2001 (a structural benchmark).

[05] 3.5 TONNES OF DRUG DESTROYED IN MARDIN

forces in the operations launched in southeast and eastern regions were

destroyed in a cement factory in southeast Mardin province on Tuesday.

The drugs seized in two regions between 1996-2000 were burnt down to ashes in

the factory.

The officials said the market value of the drugs was approximately 12 trillion

Turkish Liras(TL).

[06] TOURISM TAKES GOOD START IN ANTALYA

January, 2001 with an increase of 50 percent compared to the same period last

year.

Last year, 48,360 foreign tourists had visited the province.

Antalya Airport officials reported that 61 percent of the tourists who arrived

in Antalya were Germans.

A four percent of increase was observed in the number of French tourists who

came to Antalya, compared to January, 2000. 1,978 French tourists came to the

province in January, 2001.

The Israeli tourists camee third after German and French tourists in January,

2001.

[07] U.S. AMBASSADOR TO TURKEY PEARSON: ''TURKEY HAS AN

Turkey had an ''excellent'' economic and commercial potential.

Pearson spoke at a seminar on U.S. commercial and fiancial services held at

the Istanbul Chamber of Commerce.

Most of the investors in the United States are aware of Turkey's high

inflation and added that the embassy personnel in Ankara were working to

utilize this potential.

Since 1994, the trade volume between his country and Turkey increased 70

percent and Turkey's export to the United States climbed by 15 percent in 1999

and 2000, he explained.

Turkey, Caucasia and the Central Asia are very important for the U.S.

government, Pearson said and told the participating businessmen that the U.S.

businessmen were anxious to start working on joint projects with them in the

months to come. ''We want to strengthen the commercial ties between the United

States and Turkey,'' he added.

Unlike ITO Chairman Mehmet Yildirim who spoke before him, Pearson didn't touch

the so-called Armenian genocide resolutions in Europe and the United States.

[08] TREASURY UNDERSECRETARIAT:

Monetary Fund (IMF) Executive Board had approved fifth review of Turkey's

economic program which is supported by a three-year IMF stand-by credit.

Releasing a statement, Treasury Undersecretariat said that the decision would

enable Turkey to draw up to SDR 1.09 billion (about 1.4 billion U.S. dollars)

immediately.

The stand-by credit was approved in December 1999 for SDR 2.9 billion (about

3.8 billion U.S. dollars). On December 22, 2000, the Board decided to provide

additional resources available under the Supplemental Reserve Facility (SRF)

for SDR 5.8 billion (about 7.6 billion U.S. dollars) to alleviate balance of

payments difficulties.

Of the total amount of SDR 8.7 billion (about 11.4 billion U.S. dollars) under

the stand-by credit, Turkey has so far drawn SDR 2.84 billion (about 3.7

billion U.S. dollars).

The statement said that following the Executive Board discussion on Turkey,

Horst Kohler, Managing Director and Chairman, said, ''policy implementation

since the last Executive Board meeting has been most encouraging. In

particular, the central bank has strictly implemented the monetary policy

framework laid out in their December 2000 Letter of Intent and important

actions in the structural area have been implemented during January.''

On monetary policy, the Central Bank of Turkey has successfully mopped up most

of the excess domestic credit created during the crisis, thus helping to

restore market confidence as evidenced by the reduction in interest rates and

the increase in foreign reserves, Kohler said.

''On banking, the recent decision to adopt a time-bound plan to resolve the

banks currently controlled by the Saving Deposit Insurance Fund that did not

elicit market interest should help restore confidence in the banking system.

The strengthening of regulations aimed at addressing sources of market risk is

similarly welcome,'' he added.

''Progress has been made also in other structural areas, including by

implementing key steps envisaged under the program to facilitate the

privatization of telecommunication, transportation, and energy sectors. In

light of the progress made, and of the authorities' reassurance that the

Electricity Markets Law would be enacted by mid-February, the Executive Board

approved the request of the Turkish authorities for a waiver of compliance on

the performance criterion relating to the enactment of this law,'' Kohler

said.

''Strict adherence to the monetary, fiscal and the structural reform program

is needed. The determination shown so far augurs well for the return of full

market confidence and for the success of the authorities' ambitious

disinflation program,'' Kohler added.

[09] 1.4 BILLION U.S. DOLLARS IMF CREDIT TRANCHE

1.4 billion U.S. dollars) IMF credit tranche approved by the IMF Board on

Tuesday.

The credit which means approval of the fifth review of Turkey's economic

program is backed by supplementary letter of intent covering five articles.

The stand-by credit was approved in December 1999 for SDR 2.9 billion (about

3.8 billion U.S. dollars). On December 22, 2000, the Board decided to provide

additional resources available under the Supplemental Reserve Facility (SRF)

for SDR 5.8 billion (about 7.6 billion U.S. dollars) to alleviate balance of

payments difficulties.

Of the total amount of SDR 8.7 billion (about 11.4 billion U.S. dollars) under

the stand-by credit, Turkey has so far drawn SDR 2.84 billion (about 3.7

billion U.S. dollars).

[10] TURKEY-EU RELATIONS

sub-committees formed within framework of regulations adjustment between

Turkey and the European Union (EU), convened in Brussels on Tuesday.

High-level officials and experts of relevant ministries and institutions from

both Turkey and the EU are in attendance at the one-day meeting.

At the Turkey-EU Partnership Council meeting held in Luxembourg on April 11,

2000, it was decided to form eight sub-committees for de facto beginning of

''screening process'' which is also valid for Turkey together with other

candidate countries.

The implementation of sharing all issues in the EU acquisitions among eight

sub-committees, is valid for all candidate countries.

The EU holds full membership negotiations with candidate countries in 31

separate branches including free circulation of products, people, services and

capital; social rights; adjustment with competition policy; agriculture;

fishery; transportation; economic and monetary union; science and research;

education; regional policies; justice and domestic affairs; customs union;

joint defense and foreign policy.

Rapid or slow progress towards the full membership is determined in accordance

with candidates' adjustment with the EU acquisitions and their finalization of

dossiers.

The first sub-committee meeting was held between Turkey and the EU on June 22,

2000. At the meeting, the issue of agriculture was taken up.

The sub-committee meetings continue in several fields.

-ITO CHAIRMAN YILDIRIM: ''TURKEY'S TRADE WITH THE U.S. WILL
INCREASE SIGNIFICANTLY IF THE U.S. LIBERALIZES TEXTILE QUOTAS''
ISTANBUL - Istanbul Chamber of Commerce (ITO) Chairman Mehmet Yildirim

said on Tuesday that the trade volume between Turkey and the United States

would grow significantly if the United States liberalizes the textile quotas

for Turkey soon instead of waiting for the year 2005.

Speaking at a seminar on the Commercial and Financial Services of the United

States, Yildirim said they were pleased to see that the trade volume between

the two countries reached 6.5 billion U.S. dollars last year. Turkey's export

constituted three billion U.S. dollars of this trade volume, he pointed out.

''I believe that our trade volume will increase greatly if the United States

liberalizes the textile quotas for Turkey,'' he contended.

Dwelling on the Armenian genocide allegations, Yildirim said although the U.S.

government intervened in time and blocked the passage of a resolution, certain

politicians in some states had kept raising this issue although Turkey is a

secular country which treated its minorities in a very humanly manner.

''Any country could have had shortcomings in its past, but it is not

acceptable to accuse a country for something that took place 85 years ago. I

wish the world would also recognize the cruelties done against Armenians 70

years ago in the communist era,'' he continued. ''Turkey, at that time, didn't

discriminate against its Armenian citizens and allowed them to enjoy all kinds

of liberties including religion and education. Today, Armenians in Turkey have

the same liberties.''

Yildirim also stated that the French parliament passed the resolution with the

participation of only 30 pro-Armenian parliamentarians.

Responding to a question, he said ITO will not participate in the fairs which

will be held in France. ''This will not hurt the Turkish economy. Similar

fairs are organized in other countries so we will participate in those

fairs,'' he responded.

[11] TACKEN, CHAIRMAN OF AGRICULTURAL INVESTMENTS

Consulting Firm DLV Agricosult of the Netherlands, will come to southeastern

province of Sanliurfa on Wednesday.

Releasing a statement, the Directorate of Southeastern Anatolia Project (GAP)

Regional Development Authority said on Tuesday that Tacken would be briefed on

the GAP and latest developments in the region during his visit.

The statement noted that Tacken would visit Resarch Station in Koruklu, fields

under irrigation, Ataturk Dam and Koc-Ata Husbandry Facility.

Tacken is expected to depart from the region after holding talks with farmers'

unions and investors.

[12] RED CRESCENT SENDS HUMANITARIAN AID TO INDIA

following last month's devastating quake disaster.

Releasing a written statement, the Directorate General of Red Crescent said on

Tuesday that the humanitarian aid included 100 tents, 2,000 blankets, 7,500

syringes, 192 kg of medicine and 750 kg of disinfectant.

The statement added that the Red Crescent's second aid to India was prepared

within framework of a meeting between Ertan Gonen, the Director General of Red

Crescent, and M. K. Bhadrakumar, the Indian Ambassador to Turkey.

Turkey earlier sent 10 tonnes of humanitarian aid to India on January 30.

A massive earthquake measuring 7.9 on the Richter scale devastated western

Gujarat state of India on January 26, killing thousands of people.

[13] OPIC DIRECTOR IN CHARGE OF DEVELOPING INVESTMENTS WITH

SAYS OPIC IS VERY INTERESTED IN PRIVATIZATION PRACTICES IN TURKEY
ISTANBUL - U.S. Overseas Private Investments Council (OPIC) Director in charge

of Developing Investments with Europe Peter Ballinger said on Tuesday that

they were interested in the privatizations in Turkey.

Ballinger who spoke at a seminar on the commercial and financial services of

the United States said Turkey was an important country for his country due to

its growing economy.

Energy is the biggest sector in Turkey as it is in the world, Ballinger said

and added that they were supporting energy projects worth of 1.6 billion U.S.

dollars in Turkey which constitutes eight percent of their total portfolio in

the world. OPIC has certain conditions to give loans, he said and pointed out

that a company could get a loan from OPIC if it has a 25 percent U.S.

partnership.

Ballinger stated that OPIC was very interested in the privatization practices

in Turkey, especially the telecommunications privatization. He added that OPIC

was also interested in electricity distribution in Turkey.

Advisor for Commercial Affairs at the U.S. Embassy, John D. Breidenstine also

expressed satisfaction about the increasing commercial activities between

Turkey and the United States. He said they would hold a seminar in Istanbul in

March to bring together Turkish and U.S. businessmen and also start

www.BuyUSA.com internet site to create a favourable environment for

businessmen of both countries to do business together and sell their products.

U.S. Trade and Development Agency (TDA) Turkey, Caucasia and Central Asia

Development of Trade Director Abaseh Mirvali said they had spent 20 million

U.S. dollars since 1980 on various projects in Turkey and provided technical

assistance to the Baku-Ceyhan pipeline project.

Mirvali indicated that they would focus on tourism, transportation and

environmental projects in 2001.

After the seminar, ITO representatives will have talks with the U.S.

delegation members which will last for two days.

Anadolu Agency: News in English Directory - Previous Article - Next Article