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Erdogan to Launch SCO Membership Bid

TURKEY
  • Bloomberg report that Turkey is seeking membership to the China-led Shanghai Cooperation Organization as President Erdogan attempts to form alliances with nations in the East. Erdogan made the announcement following the SCO summit on Friday where he held talks with leaders including China’s President Xi and Russian President Putin. A successful bid would make Turkey the first NATO member to join the bloc.
  • Automotive supply industrialists had to absorb up to 200% in energy cost increases on their own as the main industry did not update prices, Dunya report. The cash balance in the supply industry also deteriorated as it pursued raw material inputs and extended maturities.
  • Speaking in an interview with Milliyet, Minister of Energy and Natural Resources Fatih Donmez said Turkey will not have any problems with gas if suppliers honour their agreements. “I hope we will not have any problems if the suppliers comply with the shipment plan. Our warehouses are almost full” he said.
  • President Erdogan will speak at a UN meeting and meet representatives of American Jewish organizations in New York today. The data docket is otherwise quiet with no other major speakers.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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