ANKARA
According to Turkey's Economy Minister Nihat Zeybekci, Turkey's high interest rates will not cause long term inflation.
Zeybekci received the D8 Secretary General, from the Organization for Economic Cooperation on Monday. D-8, also known as Developing-8, is an organization for development cooperation among the following countries: Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey.
Zeybekci answered the media's questions, saying Turkey is on the way to achieving its goal of US$166 billion in exports in 2014.
Turkey's Economy Minister answered questions on inflation ratings that the Turkish stats agency announced in the morning, adding: "I did not see dangerous aspects that will leave permanent inflation marks in the main areas. The positive side is that there is nothing that will cause a long-term inflation on the basic consumption goods."
Zeybekci also stressed the issue that Turkey is eager to cooperate and support the D8 countries.
"We want to implement the preferential trade agreements made in 2016 to reach that goal," Zeybekci said. "Until 2013, Turkey's total trade volume with D-8 countries increased to US$15 billion from US$2.9 billion."
Developing 8 Organization Secretary General Mousavi thanked Zeybekci for Turkey's support, saying Turkey is the 'father' of this organization and it will hold the 9th summit of the organization in 2014.
"Since D8 is an economic cooperation it gives great importance to the trade agreements. We are thankful to the government of Turkey. We are going to prepare everything to implement the preferential trade agreements." Mousavi said.
"US$500 billion of trade volume is a big challenge, sometimes it give me nightmares but if we look at the potential of the every member state of the D8, I know that we can do it," he added.
Mousavi finished his remarks adding that Turkey's hosting of organization's 9th summit will cause a breakthrough year for D-8.
Mousavi will also be accepted by Turkey's Transportation Minister Lütfi Elvan; Head of Council of Higher Education Gokhan Cetinsaya; Union of Chambers and Commodity Exchanges of Turkey, Rifat Hisarciklioglu.
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