Turkey liberalizes sugar industry

Published April 5th, 2001 - 02:00 GMT

Turkey's parliament passed a law Wednesday, April 4, liberalizing the state-controlled sugar industry, a reform that Turkey had pledged to accomplish within an economic recovery program. 

 

The legislation deregulates sugar prices, lifts restraints on the establishment of private sugar plants and provides a legal grounding for the privatization of 27 state-owned sugar refineries. 

 

It also introduces regulations to limit the production of sugar beet within quotas covered by the European Union, which Turkey is a candidate to join. 

 

The reform is part of measures Turkey revealed last month to battle a severe financial crisis that forced the government to float the Turkish lira, effectively ending an IMF-backed anti-inflation program in place since 1999. 

 

A series of other legal amendments, aimed mainly at reforming the country's ailing banking sector and speeding up privatization, are yet to be submitted to parliament. 

 

Turkey is now in a process of outlining a new, tighter economic plan with revised macro-economic targets, while lobbying for foreign aid of $10-$12 billion (€11-€13 billion). — (AFP, Ankara) 

 

© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)

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