Chairman of London Financial Center: Istanbul as a finance center would be an opportunity for us

Lord Mayor Wootton, Chairman of London Financial Centre, said: “It is also an opportunity for us that there is a financial center in Istanbul. What I said may appear as wrong at first because we normally have to look at Istanbul through the eyes of the opponent. Istanbul’s taking place in this league, of course, will bring competition but at the same time this will increase the volume of business. Therefore, we are ready for all kinds of cooperation.”

Lord Mayor David Wootton, Chairman of London Financial Centre which is one of the world’s leading financial centers stated: “We support the development of Istanbul as one of the few global finance centers in this area. If there is a growing financial center around, then London is doing more business.

Istanbul, in this sense, has an important place on the agenda of Britain. Turkey as a rising star in the global economy to turn into a financial center in its region is very natural. Although there will be a competition between us, it will increase the volume of business. So this is an opportunity for us as well.”

East to West Gateway

Wooten has foreseen after required infrastructure is provided, an integrated process between Turkish private sector and international companies will begin and continued as: “Turkey’s domestic market is attractive enough to attract investors in the first place. In the second phase, Turkey is an entrance gateway to the east for the Westerns and a gateway to the west for the Easterns. This feature seriously distinguishes Turkey from the other candidates for financial center and provides the country with a leader position in the competition.”

Istanbul has more chances than Moscow

Mentioning Turkey shouldn’t worry about Moscow that is one of candidates for financial center and a rival for Istanbul and said: “Moscow is a different market. Russia is a large country having a population with more than 150 million people. Their own domestic market is large enough. According to me, Turkey is quite different from Russia. Foreign capital-friendly applications are important at this point. Although Moscow grows much faster, in this sense, it cannot be a rival for Istanbul.”

16.02.2012
SOURCE: PORTTURKEY