Babacan calls on UN to make reforms

Turkish Deputy Prime Minister Ali Babacan attended a session in the UN in New York on Monday. Speaking at a conference on the UN and Global Economic Governance, Babacan said that UN should restructure itself which would strengthen the legitimacy of the organization. "UN should be adjusted to new realities of our age," Babacan said. "The share of developed countries in global economy decreased from 63 percent in 2000 to 51 percent in 2011, while developing countries' share increased 12 percent to 49 percent. This trend had been strengthened by the developments after global economic stagnation," Babacan said, adding that that G-20 and UN could shape a more improved cooperation mechanism. Babacan also indicated that Turkey would undertake the term presidency of G-20 in 2015.