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As the emerging economic powers of the BRICS have problems with the politically biased decisions of Western rating agencies, an objective agency is needed, said a Turkish badyst Friday. The international market is difficult not only for Turkey but also for Russia, Brazil or South Africa, "said Nurullah Gür, Economic Director of the Foundation for Political, Economic and Social Research (SETA), based in Ankara. He added: "Making a move with the BRICS makes sense for Turkey: five BRICS countries that maintain the dominance of the global economy will increase the reputation of the rating agency."
At the 10th BRICS Summit in Johannesburg, Friday, President Recep Tayyip Erdogan said that Turkey and the BRICS countries – Brazil, Russia, India, China and Africa's South – could jointly create a more objective credit rating agency. ogan is complaining that some established rating agencies are biased against Turkey and are unaware of its true economic strength.
Turquie Turkey, South Africa to strengthen trade links & # 39;
said Friday that he wants to strengthen trade links with South Africa. "We are committed to providing a win-win investment and trading environment that will benefit both countries," Recep Tayyip Erdoğan told businessmen on the sidelines of a summit of emerging powers. in Johannesburg, South Africa. The BRICS countries – Brazil, Russia, India, China and South Africa – conclude Friday. The Turkish president also said that African countries, like Turkey, have gained their independence by blood and spirit, and not at the mercy of certain powers. "We can not make concessions of our achievements," added Erdoğan, "what our African brothers have been waiting for years are true friends who respect their history, their culture, their traditions and their languages". ", He said. Turkey will never accept an international economic order where some countries are producers and others are only consumers, Erdoğan added. Erdoğan calls for the establishment of an "international" Friday, after meeting Erdoğan for bilateral talks, South African President Cyril Ramaphosa said his country has good bilateral relations with Turkey. Report to journalists at the closing of the 10th BRICS M Summit. Ramaphosa also explained that Mr Erdoğan had explained to him the situation in Turkey and the terrorist group FETÖ.The terrorist organization Fetullah (FETÖ) and its US leader Fetullah Gulen were behind the coup. State of July. On February 15, 2016, 251 people were martyred and nearly 2,200 injured. FETÖ would be present in more than 150 countries around the world, through schools, NGOs, lobbyists, media and other companies. Erdoğan Warns South Africa Against FETONE ThreatOn Thursday, Erdoğan said South Africa ranked only FETÖ is the most active and warned South Africans to guard against FETÖ infiltration. On Saturday, Erdoğan is due to visit Zambia to meet President Edgar Lungu on the first official visit of a Turkish President to East Africa. The BRICS Group was created in 2006 to strengthen cooperation between member countries and other developing countries.
International or Local
A local agency may evaluate domestic firms but not fund large projects and attract international investors. ", Warned Gür
He also said that working together in some developing countries and establishing an agency would be more productive in terms of objectivity
" While a local agency could take a lot of time to gain a reputation – up to 50 years – an international agency can be trusted within 10 years, "he added.
The BRICS countries had already planned to create an agency, but they prioritized It added: "The development bank was founded, now they can take action for a credit rating agency."
Almost every influential agency – Fitch, Standard Poor's, Moody's – "A new rating agency could weaken Western agencies." G20 leaders also want to break the power of the three or four players in the credit ratings market. "
Erdoğan and Putin meet on the sidelines of the BRICS summit [19659019LeprésidentturcRecepTayyipErdoganaeujeudiunerencontreentête-à-têteavecsonhomologuerusseVladimirPoutineàJohannesburgenmargedusommetBRICSencoursLesdeuxdirigeantssesontrencontrésà17h55heureturque[1655 GMT] Syria, bilateral relations and the Tehran's next summit as part of the Astana process lasted 75 minutes: "Any form of solidarity between us makes us jealous," Erdogan said before the meeting. Recalling a target of 100 billion dollars between the two countries, he said: "I believe […] that we will achieve this goal." The Turkish president also welcomed the figures of tourism between Russia and Turkey, saying: "I think that some 6 million tourists will visit Turkey this year." Putin expressed gratitude for carrying out joint projects with Turkey. "Our relations will always overcome different crises," said the Russian president. "Our relations in the economy will also improve." Putin added, "I am very happy to meet you." Erdogan and Putin have spoken by phone 16 times this year to discuss regional issues, including Syria and bilateral relations. ] Legal framework for the agency
In its medium-term program published last October, Turkey aimed at the creation of a local rating agency
With a record growth rate of Turkey's 7.4% in 2017 and the first quarter of 2018 Nihat Zeybekci, then Minister of Economy, said: "We do not find the ratings of the rating agencies reasonable, they are speculative and manipulative."
] Mehmet Ali Akben, director of the Banking Regulation and Supervision Agency (BDDK), said that Turkey has adopted a regulation authorizing the creation of an independent and local rating agency in 2018
"The New Measure"
"Some regional and international rating agencies have requested information and wish to participate in the local agency," he added. [ad_2]
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