Fourth Reform Action Group Meeting
Foreign Minister Mevlüt Çavuşoğlu, Finance Minister Berat Albayrak, Justice Minister Abdulhamit Gül and Interior Minister Süleyman Soylu divulged details from Turkey’s Fourth Reform Action Group Meeting in a joint press conference on Wednesday.
Çavuşoğlu said that Turkey will prioritize reforms linked to its European Union accession process in the coming period and expects to see results from its efforts, including on the issue of visa liberalization.
The foreign minister added that Turkey will work on accelerating political reforms, focusing on the judiciary, freedoms and fundamental rights.
Çavuşoğlu said that talks on updating the customs union with the EU must start again. He also said Turkey did not expect new chapters to be opened regarding its EU accession talks while Austria has the term presidency of the bloc
Turkey will shape the future of the entire region upon reaching its 2023 vision goals, vowed Turkish President Recep Tayyip Erdoğan in a Victory Day message published Wednesday. “Like at every stage in our history, today we’re fighting for all the oppressed and destitute with the hope that binds us all together,” the message read. “I believe that today we’re on the brink of new victories as well. Surely, we will win this fight together with those who put their trust in Turkey,” Erdoğan’s message concluded.The Turkish leader’s message comes on the eve of the 96th anniversary of Victory Day, which is celebrated on Aug. 30, commemorating victory in the Battle of Dumlupınar, in Turkey's Aegean province of Kütahya in 1922, as part of the Great Offensive.The last week of August marks two key historical victories by Turkish forces: the Battle of Malazgirt on Aug. 26, 1071, which saw Seljuk Turks defeat a Byzantine army and open up Anatolia for Turkish domination.It also marks the start of the Great Offensive of Aug. 26, 1922, which saw invading Greek forces' eventual defeat at the hands of the Turkish army.Erdoğan talks to German counterpart over phone'Issue not about myself, but Turkey, Islam': ErdoğanTurkish president marks 1071 victory at Malazgirt
Turkey will shape the region’s future: Erdoğan
Human rights
Justice Minister Gül said his department would prioritize an action plan regarding human rights and the judiciary. He stated that the plan would be revised and steps would be taken to advance human rights matters.
Reducing account deficit
“We will implement the action plan developed with our banks and real sector more effectively. Export and import figures demonstrated a positive indicator. Our aim to reduce current account deficit will continue to be one of our main goals. We will implement policies for fighting inflation in 2019,” Finance Minister Albayrak said.
“We want to build strong infrastructure in Turkey’s financial system so that it may resist regional and global attacks. We will be far more powerful in the new world order,” he added.
Turkey's foreign trade balance ran a $5.98 billion deficit in July, marking a year-on-year fall of 32.6 percent, Turkish Statistical Institute (TurkStat) announced on Wednesday.Last month, the country's exports amounted to $14.07 billion with a 11.6 percent annual hike, while imports totaled $20.05 billion with a 6.7 percent decrease, compared with July 2017."In July 2018, exports coverage [ratio to] imports was 70.2 percent while it was 58.7 percent in July 2017," TurkStat said.The institute noted that from January to July this year, exports were $96.27 billion -- up 7 percent on a yearly basis -- and imports were some $143 billion with an annual hike of 10.2 percent. Turkish finance minister says does not see big risk to economyAccording to official figures, the seven-month trade balance showed a deficit of $46.75 billion, up 10.2 percent over the same period last year.TurkStat also reported that Turkey's exports to the European Union in July surged 14.7 percent, year-on-year, amounting to $6.8 billion."The proportion of the EU countries was 48.7 percent in July 2018 while it was 47.4 percent in July 2017," the institute said.Statistical authority noted that the main partner for exports was Germany with $1.29 billion last month -- followed by the United Kingdom with around $1 billion, the U.S. with $850 million and Italy with $750 million."In July 2018, the top country for Turkey’s imports was China with $1.97 billion," it said. "The country was followed by Russia with $1.88 billion, Germany with $1.69 billion and the U.S. with $1.12 billion."Official data showed that the ratio of manufacturing industries products in total exports was 94.9 percent in July, amounting to $13.36 billion."The ratio of high-technology products in manufacturing industries was 2.8 percent," TurkStat said. "The ratio of medium-high technology products in manufacturing industries’ products was 37.1 percent."The institute said the ratio of manufacturing industries’ products in total imports was 78 percent last month, noting that the intermediate goods claimed the top spot with 75.8 percent in Turkey's overall imports.In 2014, Turkey's exports hit an all-time high of $157.6 billion while the figure was nearly $157 billion last year.Over the past five years, the highest export-to-import ratio was recorded in 2016 with 71.8 percent, while the country's foreign trade deficit has fallen from $99.8 billion in 2013 to $76.8 billion in 2017.
Turkey's foreign trade deficit down in July
Albayrak dubbed the reform meeting as “historic,” and hailed the stance displayed by EU states following attacks by the United States targeting the Turkish economy.
“Over the past few months, there has been turbulence in our region and in global economy caused by the U.S. Countries that have suffered in terms of trade balance have gained motivation to run a new process differently. U.S. moves have sparked question marks in Turkey and many EU countries. I will most likely visit Britain and Germany next week. We will make medium and long term plans with our counterparts,” Albayrak said.
EU security
Interior Minister Soylu emphasized that Turkey was a key partner of the EU in matters such as security.
“Turkey is fulfilling its role in areas such as the fight against terror, irregular migration and the war on drugs, and all these matters directly relate to Europe’s security. This meeting clearly confirms the will of Turkey and the EU in favor of reforms. Turkey has remained committed to the March 18 agreement,” Soylu said.
In March 2016, Turkey and the EU signed a deal aiming to stem the irregular migration flow through the Aegean Sea by taking stricter measures against human traffickers and improving conditions for nearly 3 million Syrian refugees in Turkey.
Turkish Finance Minister Berat Albayrak said he does not see a big risk to the country's economy or financial system."We do not see a big risk about Turkey's economy or financial system," Albayrak said on Wednesday when asked about the biggest risk for 2019.He said he does not see a big risk because Turkey's net public debt and household debt are very low and its financial system is very strong.Albayrak made the comments to reporters on the plane back from his visit to Paris on Monday.Turkey, France agree to boost economic tiesAlbayrak has signalled that Turkey wants to mend its ties with the European Union as it faces what he said are moves by the United States that threaten the global economy.He and President Recep Tayyip Erdoğan have also emphasised that Turkey would aim to trade in local currencies rather than use the dollar.Albayrak said that steps would be taken to prevent foreign currencies from being used for real estate and shopping-mall store rents and sales.
Turkish finance minister says does not see big risk to economy