(ECO) TURKISH MINISTER SEES THREE-STEP STRONG ECONOMIC RECOVERY.ISTANBUL, Nov 5, 2009 (TUR tur: see ibex. ) -- The Turkish finance minister foresaw on Thursday a three-step strong economic recovery in Turkey. Turkey's Finance Minister Mehmet Simsek said he foresaw a three-step strong economic recovery in the country, and the first step began with betterment bet·ter·ment n. 1. An improvement over what has been the case: financial betterment. 2. Law An improvement beyond normal upkeep and repair that adds to the value of real property. in stocks. "This will be the first phase of economic revival," Simsek said during a meeting of the Standing Committee for Economic and Commercial Cooperation (COMCEC COMCEC Standing Committee for Economic and Commercial Cooperation ) of the Organization of the Islamic Conference (OIC "Oh, I see." See digispeak. (chat) OIC - oh, I see. ) in Istanbul. Simsek said the second step of economic recovery would occur synchronously syn·chro·nous adj. 1. Occurring or existing at the same time. See Synonyms at contemporary. 2. Moving or operating at the same rate. 3. a. Having identical periods. b. with betterment in the private sector, and forecast it would begin as of the beginning of the following year. The minister said the third step of the recovery would be achieved by a rise in investments. Simsek said the government had introduced a radical and generous incentive system to increase investments. The finance minister defined crises as an opportunity for an economic leap. Also, Simsek said Turkey aimed to diversify its foreign trade and its foreign trade with Islam countries would have an important role in achieving this aim. Simsek called on representatives of Islam countries to lift hurdles before investments, and said Turkey and Islam countries should seek opportunities for a stronger economic and commercial cooperation. The Turkish finance minister also recommended the participants to sign free trade agreements to increase investments and lift obstacles before investments. Established in 1981, COMCEC became operational in 1984, with the election of the President of the Republic of Turkey to its chairmanship. The mandate of the COMCEC is to draw up programmes for joint action, coordinate and follow-up the activities pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to economic cooperation within the framework of the OIC. (THROUGH ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. PULSE) |
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