ECONOMY

Turkey gains membership to UN regional economic bloc

TURKEY GAINS MEMBERSHIP TO UN REGIONAL ECONOMIC BLOC

Membership to UN Economic Commission for Latin America and Caribbean shows importance Turkey gives to region: Ministry

Turkey's membership to the UN Economic Commission for Latin America and the Caribbean (ECLAC) was formally approved during a meeting in New York on Tuesday, according to the Foreign Ministry on Wednesday.

The ECLAC, founded in 1948, is one of five regional commissions of UN Economic and Social Council (ECOSOC) that aims to "contribute to the development of Latin American countries and to harmonize their economic policies".

Turkey had applied for membership to ECLAC on Feb. 1, 2016, during President Recep Tayyip Erdogan's visit to Chile; Turkey's application was accepted on Jan. 30, 2017.

"We welcome the formal approval of Turkey's membership to the UN Economic Commission for Latin America and the Caribbean [ECLAC] at the UN Economic and Social Council [ECOSOC] meeting yesterday in New York," the ministry said in a statement.

The membership shows the importance Turkey gives to Latin America and the Caribbean, the statement said, adding that Turkey's strategy toward the countries in the region aims at elevating their bilateral relations in all levels, including establishment of institutional ties.

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