Turkey and BRICS may establish an objective rating agency - Erdoğan

Turkey sees the 10th BRICS summit as an opportunity to develop cooperation in the field of economy, investment and development areas, including the establishment of a more objective credit rating agency, Turkish President Recep Tayyip Erdoğan said on Friday in Johannesburg, Anadolu Agency reported

"We wish to conclude membership negotiations between our Treasury and Finance Ministry and BRICS' new development bank in a short term. We can team up to establish […] more objective credit rating agencies," Erdogan said during the BRICS Outreach Working Group meeting.

“The existing global system satisfies no one, except the privileged few whose interests were guaranteed,” Erdoğan added, noting that the growing power of emerging economies must be proportionally represented within the system.

He also said that Turkey closely followed the BRICS's attempts to play a role in south-south cooperation and noted that Turkey is among the leading countries in development assistance field.

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