Last news in Fakti

Erdogan comments on the idea of creating an alternative financial system

it will contribute to the diversification of world trade

Oct 25, 2024 13:21 126

Erdogan comments on the idea of creating an alternative financial system  - 1

Turkish President Recep Tayyip Erdogan said that the creation of an alternative financial and payment system will contribute to diversification of world trade, and trade in national currencies allows bilateral trade to be freed from currency pressures.

"We have been advocating the policy of trading with national currencies for many years. This frees bilateral trade from foreign exchange pressure. It does not allow other countries to interfere in the commercial activities of the countries. Trade in national currencies is also free trade. Likewise, the lack of diversity in payment systems increases the vulnerability of financial markets to shocks. Therefore, the alternative financial and payment system contributes to the development and diversification of international trade,” Erdogan told reporters after returning from Kazan, where he participated in the BRICS summit. His statements were quoted by Anadolu.

agency