Economy, Europe

City of London lord mayor lauds growing Turkish economy

Lord Mountevans calls Turkey a 'very important regional player' which is creating opportunities in the region

25.05.2016
City of London lord mayor lauds growing Turkish economy

London, City of

LONDON

Alderman Jeffrey Mountevans, the Lord Mayor of the City of London, lauded Turkey’s rapidly growing economy, saying it has created a host of opportunities in the region.

“Turkey is a very important regional player. The most rapidly growing economy in that part of the world, indeed, internationally, it has a tremendous rate,” he told Anadolu Agency this week at the Mansion House, his official residence.

Mountevans is lord mayor of the important financial center the City of London within the U.K. capital, comparable to New York’s Wall Street, but contained within a separate square mile district. His office is distinct from that of Sadiq Khan, who was popularly elected mayor of London earlier this month.

In addition to his public service, the lord mayor is a director at Clarkson’s, the shipbroking giant, and a member of the Baltic Exchange.

Mountevans stressed the important role that financial services perform in growth and also in a mature economy.

“It’s very natural that there is an ambition to grow financial activities in Istanbul. As the world’s leading international financial center, there is potential for cooperation,” he added.

The lord mayor, who is also chancellor of City University London, said that Turkey has promising growth in terms of per capita income.

“I am optimistic that it would continue to be the case,” he said. “There is a positive cooperation between the London Stock Exchange and Borsa Istanbul. There are lots of opportunities for developments on both sides.”

Regarding Britain’s June 23 vote on the question of Britain exiting the EU, the lord mayor underlined the importance of London’s access to the EU single market, which accounts for 500 million consumers, as Europe’s leading financial market.

“We have an important role to play inside Europe,” he stated. “Here in the city we are very clear that we wish to remain in.”


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