Babacan: "A financially stronger Istanbul implies a stronger Ankara"

Istanbul should emerge as a financial hub not only for Turkey but also for the world, said Deputy Prime Minister for the Economy Ali Babacan yesterday. Speaking to Parliament's Planning and Budget Commission, Babacan said a financially stronger Istanbul will also strengthen Ankara. Asked about the government's plans to move the headquarters of some economy- and finance-related state institutions such as the Central Bank to Istanbul, Babacan said, "Considered in terms of financial activity and economic investment, Istanbul is Turkey's most active city. We want to see Istanbul not only as a nationwide but also as a region-wide and worldwide financial center." If Turkey wants to attract the world to Istanbul, it must first show that we believe in Istanbul, Babacan said, adding that an Istanbul with stronger economic power will also add to Ankara's strength. "Turkey growing stronger will make the capital more powerful both at home and abroad," he concluded.