G20 Should Take Over Where UN Fails, Suggests Turkey’s Deputy PM

aaaAfter President Erdoğan criticized the United Nations Security Council claiming it has a poor decision making process, Deputy PM Babacan suggested the G20 as a new platform for discussions of political issues.

eputy Prime Minister Ali Babacan said the United Nations Security Council (UNSC) cannot offer any solutions to economic crises, geopolitical problems and humanitarian crises in the world and that the G20 should be filling this void. President Recep Tayyip Erdoğan declared several times in the past that disagreement between the five permanent members of the United Nation Security Council neutralizes the U.N.’s power to act, and that the world needs new decision-making mechanisms.

It turned into a campaign after he said “The world is bigger than five” at the 69th general assembly of the U.N. in September 2014, one month after he became the president. A new platform suggestion came from the deputy prime minister of the country, who is also the minister responsible for Turkey’s G20 presidency term. Speaking at the opening of the “Building Tomorrow-Target 2023” Forum Istanbul 2015, Babacan said that since the G20 is a platform with high representative power, it is becoming more politically effective and any matter agreed at the G20 is more easily accepted globally.

The first official G20 meetings were held between ministers of finance and chairmen of central banks. Babacan said that the Leaders’ Summit has been held since the 2008-2009 crisis. He said that “since it was not possible for the G7 countries to resolve these [crises] on their own, the G20 leaders’ summit has been initiated, and ever since, the G7’s effect on matters related to the economy has been decreasing.” “As a result, the G20 has become the main platform for discussing global finance and economy,” said Babacan. He also underlined that political matters such as foreign policies and international security should be discussed at the G20 summit, and said that the G20 has become a common platform for the whole world. He also said that there are some who would not want the G20 to become more powerful, as it will diminish the effect of the U.N.’s Security Council. “It is interesting during the presidency of the country that was completely against the G20 becoming involved in political issues, the Syrian crisis was discussed throughout the whole dinner,” said Babacan.

He also indicated that they will strive for the G20 to become more of a political platform along with an economic and financial one, just like they have striven for the G20 to become a leaders’ summit. He underlined that this is a necessity, due the U.N’s Security Council inability to come up with solutions to the various crises in the world and therefore, the G20 should be the authority to step in.

Investment-friendly environment is the least costly way for growthDeveloping the investment environment is the cheapest way to sustain growth, according to Deputy Prime Minister Ali Babacan. He said that political and economic stability is a must in order to foster a suitable climate for investments. Babacan delivered a speech at the G20-WAIPA International Direct Investment Conference of World Investment Agencies Union, headed by the Prime Ministry’s Investment Support and Promotion Agency. Along with Babacan, representatives of the World Investment Agencies Union and representatives of development agencies active in Turkey also attended the conference. According to Babacan, direct foreign investments push economies up in the global chain, and for investments, a general trust in the markets, proprietary and industrial property rights, rule of law, human capital, transparency in trade and welcoming funding are essential for countries wanting to draw investments.

Underlining the fact that Turkey offers many unique opportunities to foreign investments, Babacan said that a liberal and secure investment environment plus strong macroeconomic indicators have made Turkey an attractive country for investments. “Turkey has received an annual $12.5 billion worth of investments over the last 14 years. Government investments have never been the driving force. Our current export is around $160 billion. And I can easily say as a member of the cabinet for the last 13 years, the cost-effectiveness in Turkey has been the underlying reason behind Turkey to attract investors,” said Babacan.

He said that the requirements of the business world should be understood, and Turkey’s development agency has been well designed and well established, as it is working flexibly as a private sector company, which was what was intended in the first place. Babacan also said that they are developing unique investment strategies for each country.

World SMEs forum to be established During his speech Babacan announced that during the annual spring meetings of the IMF and World Bank Group in Washington, it has been decided that a World SMEs (small and medium-sized enterprises) forum will be established in cooperation with the International Chamber of Commerce (ICC) and G20. Turkey has announced that SMEs will have a crucial role during the country’s G20 presidency term regarding the aim to provide inclusivity as the driving force of global economies.

Babacan further said that the World Bank and the Organisation for Economic Co-operation and Development (OECD) have agreed to be founders of the World SMEs Forum, and have officially notified this. “We will bring an institution to the world, which will be the common voice of SMEs. This is a first, and we are working for Istanbul to be the center of this forum,” said the deputy prime minister.


  • 대구출장안마 Reply

    24 January 2021 at 23:49

    I could not resist commenting. Perfectly written!

  • 부산출장마사지 Reply

    25 January 2021 at 03:33

    Way cool! Some very valid points! I appreciate you penning this post and also the rest of the site is extremely good.

  • 울산출장마사지 Reply

    25 January 2021 at 04:27

    This page truly has all the info I needed concerning this subject and didn챠t know who to ask.

  • 대구출장안마 Reply

    25 January 2021 at 06:48

    I챠m impressed, I must say. Seldom do I come across a blog that챠s both equally educative and interesting, and without a doubt, you have hit the nail on the head. The problem is an issue that too few folks are speaking intelligently about. Now i’m very happy that I found this during my hunt for something relating to this.

  • 먹튀 Reply

    28 January 2021 at 04:33

    I need to to thank you for this great read!! I absolutely enjoyed every bit of it. I have you book marked to look at new stuff you postÖ

  • microsoft home and business 2019 for mac Reply

    29 January 2021 at 13:37

    It’s a pity you don’t have a donate button! I’d definitely donate to this outstanding blog! I suppose for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to new updates and will talk about this blog with my Facebook group. Chat soon!

  • Visit Website Reply

    29 January 2021 at 14:24

    You completed several good points there. I did a search on the subject matter and found the majority of folks will agree with your blog.

  • visio pro for office 2016 Reply

    30 January 2021 at 19:28

    I think other web site proprietors should take this website as an model, very clean and wonderful user friendly style and design, as well as the content. You’re an expert in this topic!

  • Get Info Reply

    03 February 2021 at 13:00

    I was suggested this web site by my cousin. I’m not sure whether this post is written by him as nobody else know such detailed about my trouble. You’re incredible! Thanks!

  • Get Info Reply

    05 February 2021 at 22:41

    Hiya, I’m really glad I’ve found this info. Today bloggers publish only about gossips and web and this is really frustrating. A good site with interesting content, this is what I need. Thanks for keeping this site, I’ll be visiting it. Do you do newsletters? Can’t find it.

  • Link Reply

    07 February 2021 at 13:19

    Awsome website! I am loving it!! Will be back later to read some more. I am taking your feeds also.

  • instagram takipci hilesi Reply

    07 February 2021 at 17:40

    Buradan esas olan şey hem gerçek, güvenilir ve organik takipçiler elde etmek ve hem de bunu olabilecek en makul ve uygun fiyatlarla temin edebilmektir.

  • Safest Mutual Fund Reply

    09 February 2021 at 06:02

    I’d have to verify with you here. Which isn’t something I normally do! I take pleasure in studying a put up that will make folks think. Additionally, thanks for allowing me to comment!

  • laweekly.com Reply

    09 February 2021 at 13:45

    Your way of addressin this subject is both wonderful and inspiring.

  • Business News Reply

    10 February 2021 at 19:29

    Hi! I could have sworn I’ve been to this website before but after checking through some of the post I realized it’s new to me. Nonetheless, I’m definitely delighted I found it and I’ll be bookmarking and checking back often!

  • childrenscurtainsxyz.wordpress.com Reply

    14 February 2021 at 05:28

    I will right away grasp your rss as I can not in finding your email subscription hyperlink or e-newsletter service.

    Do you’ve any? Please allow me realize so that I could
    subscribe. Thanks.

  • https://toddlerbeddinghqy.wordpress.com/ Reply

    15 February 2021 at 04:04

    Hi, I do believe this is an excellent website. I stumbledupon it 😉 I’m going to revisit once again since
    I book-marked it. Money and freedom is the greatest way to change, may you be rich and continue to help others.

  • Best Home Loan in Pune Reply

    16 February 2021 at 15:40

    Good blog! I really love how it is simple on my eyes and the data are well written. I am wondering how I might be notified whenever a new post has been made. I have subscribed to your RSS feed which must do the trick! Have a great day!

  • Website Authority Reply

    17 February 2021 at 11:35

    Hi, i think that i noticed you visited my blog so i came to “go back the favor”.I’m trying to in finding issues to improve my website!I suppose its ok to make use of some of your concepts!!

Leave a Comment