Opinion Culture Business News Archive

Business
January 1-14, 2003
Year 14 No. 314

The Turkish Times
Menu
Opinion Culture Local Business News Archive

Turkey to send trade minister, businessmen to Iraq
ANKARA, Jan 2 (Reuters) - Turkey's trade minister will lead a delegation of 150 businessmen to Baghdad on January 10 to discuss trade issues, as his government considers how much support it will offer Washington in a possible war against Iraq.

Ministry officials said on Thursday that Kursad Tuzmen would be accompanied by energy and foreign ministry officials on the visit. It was not yet clear who he would meet in Baghdad.

NATO member Turkey opposes a war in Iraq, fearing economic damage and regional turmoil. But as a close ally of Washington it is expected to provide at least air space and other logistic support if the United States does go to war.

Turkey already allows U.S. and British warplanes to use its southern Incirlik airbase to patrol a no-fly zone over northern Iraq, much to Baghdad's annoyance.

Turkey says it has lost more than $30 billion as a result of the 1991 Gulf War and the subsequent U.N. sanctions on Iraq which was one of Ankara's main trading partners before the war.

The Turkish government has resisted making a firm commitment to supporting Washington militarily and has urged a peaceful solution to the current crisis.

Turkey contains inflation rate
The Associated Press, ANKARA, Turkey (AP) - Turkey's consumer inflation rose by 29.7 percent in 2002, according to figures released Friday. It was lower than the 35 percent target set in the country's International Monetary Fund-backed economic recovery program. The State Statistics Institute said wholesale inflation was 30.8 percent in 2002. Turkey's new government has said it will aim for 20 percent inflation in 2003, in a sign that it plans to stick to the IMF program. The government, which came to power in November, has pledged to follow the IMF-backed plan, but wants to make some revisions to help the poor. The IMF has given Turkey $16 billion in loans to help it recover from a recession that saw the economy shrink 9.4 percent and prices rise by 68.5 percent in 2001. The IMF program aims to cut spending and privatize state companies to boost growth and curb inflation.


The Turkish Times is a publication of Assembly of Turkish American Associations
1526 18th St, NW,Washington, D.C. 20036 - Phone: (202) 483-9090, Fax: (202) 483-9092
For letters to the Editor or content suggestions: editor@theturkishtimes.com
Subscription: subscribe@theturkishtimes.com Advertisement: advertise@theturkishtimes.com

"SECURITY DISCLOSURE: The IP addresses and account information of all the messages sent to
all the Turkish Times e-mail addresses above are automatically recorded and kept on file
for prosecution of malicious mails to the full extent of the law."