During a recent meeting with foreign investors and World Bank officials, so called Investment Advisory Council meeting 2007, PM Erdogan stated that "Turkey is growing and developing on the basis of economic and political trust. It is also transforming its opportunities to new and rich advantages." The meeting concluded that Turkey made significant achievements in foreign direct investment, which include:

• Unprecedented success in implementing the privatization program, resulting in recordhigh levels of revenues
• Acceleration of comprehensive tax policy reforms
• Passage of landmark social security reform legislation
• Reduced administrative barriers to investment, particularly the streamlining of work permit procedures for foreign investors
• Progress in establishing an investment promotion agency

Anne Krueger, First Deputy Managing Director of the International Monetary Fund, underscored the importance of strong fiscal and monetary policies, continuing the flexible exchange rate regime, combined with ongoing structural reforms, to ensure continued macroeconomic stability as a base for sustained growth. Shigeo Katsu, Vice President of the World Bank, spoke of the importance of improving education, strengthening innovation and use of quality standards, and removing administrative and infrastructure bottlenecks to increase investment, productivity, economic growth and job creation. Philippe Maystadt, President of the European Investment Bank, emphasized that continued progress on policy, regulatory and sectoral reforms in line with the EU accession process are critical for maintaining and enhancing investor confidence. Click here to download the meeting report.