Al Gore praises Turkey's economic growth, sees promising future

Former Vice President of the US under President Bill Clinton Al Gore praised Turkey's economic growth on Saturday, stating that Turkey has a bright future and that its significance within the global economy is gradually increasing. Speaking at the fourth Leaders Summit held by Turkcell, Turkey's leading GSM operator, in Istanbul, Gore emphasized that Turkey's young population inspires him and stated, "Turkey can become a leader in the future, but there is a key to that: It's being connected to the global economy and embracing all the new ideas in the world." He noted that Turkey has a major opportunity and that its rapid decision-making ability can lead the country to achieve an economic jump in becoming a developed economy. "When I discuss this with my acquaintances in the Balkans, Central Asia and particularly Greece, they all agree that Turkey has increased its significance in the region and now carries major importance," he said. Gore mentioned Turkey's high current account deficit (CAD) during his speech, saying: "Spending a lot of money on imports leads to difficulties in establishing economic policies. The numbers continue to rise, and when asked what you spend all this money on, of course the answer is oil," but added, "There is a serious rise in per capita income, and the country has a bright future and carries major potential for renewable energy." He said the use of renewable energy enables the cost to stay steady but that oil prices continuously rise. Gore believes Turkey can turn its solar energy potential into an opportunity. Furthermore, Gore said Europe can take a lesson from Turkey in macroeconomic policy, adding, "We wish the global economy could be as good as the Turkish economy, and [in that matter] the European Union should want to join Turkey." But he warned policymakers that both spending and monetary policy require governance since being in control of one of them is not enough, noting that this the main reason behind the economic slowdown in the EU. The former vice president addressed participants in a direct call to action. "You are residents of a country which can become a global leader. A shift to renewable energy is required and global warming is disastrous for all of us, including Turkey. You should ask for more solar and wind power generation fields so we can all avoid using dirty oil and invest in renewable energy to protect our future. Making Turkey the cradle of civilization all over again should be the new goal of the business world."