2.9.1. International Relations

In December 2013, Turkey became a member of the Troika which is the main platform for deciding on the G-20 agenda. On 1 December 2014 Turkey assumed the presidency (for one year) of the G-20.

The CBRT and the Treasury have worked together on the G-20 finance channel. The main working areas of the CBRT were determined as follows: “The Framework Working Group for Strong Sustainable and Balanced Growth”, “International Financial Architecture” and “Financial Regulations”. Additionally, the CBRT provided support to the logistic services of the G-20 presidency.

During the presidency, Turkey held five deputies meetings, four finance ministers and central bank governors meetings and four framework working group meetings.

The CBRT took an active role in the writing process of issue notes which were sent to the G-20 members prior to the meetings. The CBRT chaired the “Global Economy” and “Financial Regulations” sessions of the G-20 meetings and actively took part in the writing process and drafting sessions of the Communiqués which are publicly announced following the finance ministers and central bank governors meetings. In addition, CBRT contributed to the studies of “The Framework Working Group for Strong Sustainable and Balanced Growth” at a technical level.

The outcomes of the Turkish presidency were reflected in the draft of the G-20 Leaders’ Communiqué and Action Plan and submitted to the Leaders’ Summit. On 15 – 16 November 2015, G-20 Leaders came together in Antalya and finalized the G-20 Leaders’ Communiqué and Action Plan. On 16 November 2015 the G-20 Leaders’ Communiqué and Action Plan were publicly announced.

Moreover, in order to support and give a direction to the meetings of finance ministers and central bank governors, the CBRT organized conferences and workshops by inviting participants from universities, the business world and the public sector. In this framework, on 16 April 2015, at the invitation of the CBRT, Prof. Nicholas Bloom gave a speech to the central bank governors at the working dinner entitled the “G-20 Central Bank Governors’ Working Dinner on Uncertainty and Volatility”.

In 2015, the CBRT took further steps toward enhancing communication and bilateral cooperation with other central banks. In this context, high level policy dialogue meetings were held with the European Central Bank (ECB) and Banca d’Italia in September and with Deutsche Bundesbank in November.

For the planning of cooperation activities, two stocktaking meetings were held with the ECB in June and August. Under the MoU signed in 2013, a high-level technical meeting was held jointly with Banca d’Italia on 7 September 2015 in Istanbul. The Representative of Banca d’Italia in Turkey visited the CBRT in May and November. Under the MoU signed in 2013, a visit was made to the Deutsche Bundesbank Headquarters for talks on cooperation activities on 19 October 2015. In addition, the new Representative of Deutsche Bundesbank in Turkey visited the CBRT to meet with officials from various departments of our Bank on 19 August 2015.

On 4 September 2015, a MoU was signed with Bank Indonesia in order to enhance bilateral relationship, to foster cooperation and to share information in the field of central banking. In line with the MoU with Bank Indonesia, mutual expert visits, technical consultancy on central banking issues, bilateral research acitivities, seminars and workshops are planned for the coming years. Following the signing of the MoU, as part of the preparatory process for the planned changes on the Central Bank Act of the Republic of Indonesia, a delegation composed of members of the relevant Commission in the Indonesian House of Representatives as well as officials from Bank Indonesia and from other relevant institutions and organizations visited the CBRT.

On 29 December 2015, a MoU aiming to enhance bilateral cooperation with the Bank of Mozambique was signed.

Within the context of bilateral cooperation, a delegation from the Central Bank of the Republic of the Philippines visited the CBRT on 23 October 2015. In addition, high-level meetings were conducted with foreign representatives of other countries.

In addition, the following delegations have undertaken study visits to the CBRT: the delegation from the Central Bank of Azerbaijan on “Balance of Payments and Company Accounts” between 31 March-1 April 2015, the delegation from the Central Bank of Lebanon on “House Price Index” between 1516 June 2015, the delegation from the Central Bank of Cambodia on “Balance of Payments Statistics” between 23-25 June 2015, the delegation from the Central Bank of Uganda on “Tendency Surveys” between 4-5 November 2015.