(ECO) TURKISH MINISTER SAYS SEVERAL NEW MARKETS TO BE SET UP IN ISTANBUL.

ISTANBUL, Oct 2, 2009 (TUR) -- The Turkish state minister for economy said on Friday that several new markets would be set up in Istanbul.

Turkey's State Minister and Deputy Prime Minister Ali Babacan enumerated these new markets as carbon, diamond and gemstones markets, and said private sector borrowing instruments and local administration borrowing instruments would become operational.

Holding a press conference on the Strategy and Action Plan to Make Istanbul an International Finance Center, Babacan said the income tax law and tax procedure law should be reviewed.

Babacan also said airport-downtown connection should be integrated with different transportation systems, and efforts should be exerted to rehabilitate health, education, entertainment and accommodation needs of foreigners.

Babacan said a joint technology platform would be set up to give joint software, hardware and communication system for markets.

"The global crisis we are going through has made us speed up our initiatives to set up a financial system," he said.

Babacan also said that the government aimed to make Istanbul and Turkey attractive for investments.

Turkey's State Minister Babacan held the press conference on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank.

The IMF-World Bank are holding their annual meetings in Istanbul.

(THROUGH ASIA PULSE)