AIIB deadline: Turkey is all set to take up membership of the newly formed Asian Infrastructure Investment Bank (AIIB) after its Parliament last week voted to adjust its legislative structure to put it in line with that of the bank. Ankara was granted Prospective Founding Member (PFM) status last April, and was given until the bank’s inaugural meeting on January 16 to meet the eligibility criteria required to enable it to become one of 20 non-Asia Pacific founding members of the 57-nation strong bank that is being launched with a total capital of $100bn.Turkish Development Minister Yilmaz Cevdet
The Turkish parliament voted by 226 votes to seven to adopt the legislative changes in a week that also saw Development Minister Cevdet Yilmaz announce that he would be launching a worldwide promotion campaign to attract foreign investors to the country. Special teams will be formed to comb the world to find potential investors, he said, adding that programs and projects would be drawn up to gain the notice of international companies. His ministry would be looking to attract capital through public sector investments, joint private-public projects , private sector investment and FDI, he added.Turkish Economy Minister Mustafa Elitas
Ankara is also taking steps to strengthen ties with the EU, the country’s Economy Minister Mustafa Elitas announced last week. “We will probably be sitting around the negotiating table by September,” he said, forecasting that it would take to the end of next year for the talks to be concluded.