Turkey

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International observes are hoping for a final breakthrough in the Cyprus peace talks, after the rival leaders Glafcos Clerides and Rauf Denktas, from Greek and Turkish Cyprus respectively, agreed on January 16th to meet three times a week in a bid to accelerate talks.
Turkey has revised its estimated natural gas requirements in 2002 to around 21 billion cubic metres (bcm) according to the Energy Minister Zeki Cakan on January 12th.
The Turkish Prime Minister Bulent Ecevit has spent the last week in the US hoping to garner support for economic reforms at home and trade concessions for Turkish exports to the US.
Turkish officials have strenuously pointed out over the last few weeks that Turkey has met all the targets for 2001 as agreed with the IMF and has introduced new laws in recent weeks that were set as preconditions for further Fund financing of around $10bn.
The heads of state of the six nations of the Gulf Cooperation Council (GCC) held their annual summit meeting in Muscat at the end of the December, and the new year saw a signed agreement for the establishment of a customs union by 2003 and monetary union and single currency in 2010 after over a decade of negotiations.
By the end of the trading week on January 10th UAE shares had risen for eight consecutive week, largely due to confidence in fourth quarter results that are expected to be posted in the coming weeks.

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