Turkey announced 3-year plan at a time when many countries could not even formulate a few months in 2009, says Babacan

TOKYO (A.A) - December 5, 2011 - Turkish Deputy Prime Minister Ali Babacan said Monday that Turkey had announced a 3-year plan at a time when many countries in the world could not even formulate a few months during the global financial crisis of 2009. Speaking at the Turkish-Japanese Economic Forum in Tokyo, Ali Babacan said that the two countries had historic friendship and that they helped each other during natural disasters. For the past 9 years, Turkey has been in a process of political, social and economic changes. What lies at the success of the Turkish economy is confidence, Babacan said. We have made reforms in the Turkish economy and implemented a tight budget, Babacan noted. Turkey paid high attention to education and it was a field in which we made reforms. Education received the most amount of financial resources in our budget, Babacan stressed. -Banking sector- Turkey made reforms in its banking sector between 2004 and 2006. Many U.S. and EU banks in trouble at home performed well in the Turkish market, Babacan noted. Many foreign banks willing to enter the Turkish market complained of high amounts of liquidity and capital required but Turkey did not regret such requirements, Babacan said. The reasons for the crisis in Europe are being debated. I believe that the crisis erupted due to problems associated with political decision making, Babacan said. Touching on the "Arab Spring" process in the Middle East and North Africa, Babacan said that Turkey was a good model as a country in which Islam and democracy co-existed. As a well performing model, Turkey is a source of inspiration for the youth of the region, Babacan said. Pointing out to Turkey's strategic importance, Babacan said that Turkey was a European, Asian, Mediterranean and a Black Sea country. -"Turkey goes on despite blockages from EU"- Babacan said that Turkey went on despite the blockages from the European Union (EU). I believe that Turkey and Japan can cooperate in third countries and make investments there, Babacan underlined. Turkey aims to make Istanbul be the center of finance in 2023. We are working so that Istanbul becomes one of the top 10 financial centers of the world, Babacan said. The unemployment rate in Turkey has dropped to 9.6 percent from a previous 14.9 percent. According to the International Labor Organization (ILO), Turkey was one of the rare countries in the world as a creator of new job opportunities, Babacan said. In 2009, Turkey announced a 3 year plan at a time when countries could not even plan or formulate several months during the global crisis, Babacan said. The most crucial trait during fluctuations in the global financial crisis is predictability, Babacan also said. Following Babacan's speech, Japanese Minister of Economy, Trade and Industry Yukio Edano delivered a short speech. A panel discussion took place between Turkish and Japanese officials and businesspeople in Tokyo on the Turkish economy later in the day. Meanwhile, in an interview with Japan's biggest economy newspaper Nikkei, Babacan said that Turkey had plans of issuing Treasury bonds with the assistance of the Japanese Bank for International Cooperation (JBIC). "Our Treasury had issued bonds worth 180 billion yens. It was a successful attempt and we plan to repeat it," Babacan said. Babacan told Nikkei that the infrastructure in Turkish schools would be strengthened by providing tablet computers and smart boards.