AT THE sidelines of the joint IMF-World Bank Annual meeting held in Istanbul last week, I had the chance to renew my acquaintance with our Ambassador to Turkey, Pete Chan. Ambassador Chan became a good friend of my late sister, Victoria, when he was then Consul-General in Hawaii while my sister was the aide of then Honolulu Mayor Frank Fasi.

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After a hectic day of attending a series of bilateral meetings between BSP Governor Amando M. Tetangco Jr. and representatives of various international banks, I looked forward to having a quiet Japanese dinner with Ambassador Chan and his wife Susan.

Ambassador Chan invited me and my wife Mira to a restaurant, a block away from our hotel, where Filipino chef Dondon Galo (formerly from Saisaki) served excellent Japanese food. With us were Rep. Janet Garin and Catherine Mirano, a Filipino community leader.

Over dinner, Ambassador Chan and I exchanged notes on the day’s events.

As in previous days, starting October 3 and ending October 7, the Istanbul Convention Center was a beehive of activities. Over 10,000 representatives from around 180 countries met. The attendees included finance ministers, central bank governors, legislators, representatives from financial institutions, journalists, and representatives of civil society organizations.

Aside from Governor Tetangco and Finance Secretary Teves, I saw among the participants former Finance Secretary Lito Camacho of Credit Suisse, Gigi Montinola of Bank of PI, Jun Balbido of Philippine Veterans Bank, Bill Go of Philippine Trust, Raul de Mesa of Bank of Commerce, Abraham Co of Asia United Bank and Abet Villarosa of Security Bank. Senator Edgardo Angara attended the opening plenary.

About a kilometer away from the Istanbul Convention Center, rallyists twice attempted to disrupt the meetings by attacking business establishments and police cars but were promptly chased away by the riot police.

Various forums discussed the outlook for the global economy, developments in financial markets, as well as other pressing issues within the IMF’s and World Bank’s respective mandates. There were also in-depth discussions on current issues that are of relevance to the world economy and financial stability. I found interesting a forum on the development of Islamic Finance.

There was a general consensus that the global economy has shown signs of recovery but risks remain. Hence, the timing and coordination of the exit strategies was considered very crucial. Premature exit or withdrawal of various stimulus programs could endanger recovery.

On the other hand, late exit could result in asset price bubbles.

There was support for moving towards equitable voting power in the World Bank and the IMF through the adoption of a formula which would reflect countries’ evolving economic weight.

World Bank President Robert Zoellick earlier called for increasing the developing countries’ share in the World Bank over time to 50 per cent. An important step in this direction was the proposal by G20 to increase the share of developing countries by at least 3 percentage points by early next year bringing up their representation to 47 per cent.

To say that Istanbul is an interesting city would be an understatement. It is the only city in the world that straddles two continents. Part of Istanbul is in Europe while the other part is in Asia. During our free day, before the start of the IMF-World Bank meetings, Governor Tetangco, his wife Elma, my wife Mira and I crossed a bridge over the Bosphorus Strait from Europe to Asia and then back to Europe in twenty minutes!

A melting pot of peoples and cultures, Istanbul boasts of attractions such as Topkapi Palace, Hagia Sophia, the Blue Mosque and the Dolmabache Palace, all reflecting the Byzantine and Ottoman architectural influences.

RP-Turkish ties began in June 13, 1949 with the signing of a Treaty of Friendship and exchange of resident ambassadors in 1990-1991.

There was a subsequent exchange of State Visits between then President Fidel V. Ramos (in 1995) and then Turkish President Suleyman Demirel (1999).

Earlier this month, President Gloria Macapagal Arroyo, while on a working visit to Turkey, met with Turkish President Abdullah Gul.

The two Presidents reportedly discussed the proposed expansion of bilateral relations through increased military assistance. President
Arroyo, in her speech before the Filipino community, also announced that the Philippines intends to export jewelry to Turkey to improve trade.

President Arroyo also later met with the Secretary General of the Organization of Islamic Conference EKmeleddin Ihsanoglu. They discussed the peace talks between the Philippine government and the Moro Islamic Liberation Front with the mediation of OIC.

Ambassador Pete Chan quoted President Gul as inviting Filipinos to come over to Turkey to visit the country’s many religious sites. And indeed there are many. Among them are Ephesus, (Last Abode of the Blessed Virgin Mary and where St. John preached), Cappadocia (scene of rock-carved churches and underground places of worship of the early Christians), Tarsus (birthplace of St. Paul), and Ur (reported birthplace of Abraham).

At the end of 2008, an estimated 4,000 Filipinos were reported in
Turkey. Less than 200 work or reside in Ankara, the nation’s capital.

The rest are in Istanbul. 85 per cent are women. Majority work in households of diplomats and expatriates. A sprinkling of professionals and skilled workers are employed by the Mitsubishi power plant in
Karamanmaras province, southeast of Turkey. A few others work with the
International Finance Corporation, textile companies, as well as chefs of Japanese/Chinese restaurant. A Filipina artist, Rowena Ulayan Tuzcoughlu, held an art exhibit in 2008.

The Filipino Community Association in Istanbul is the most active Filipino organization in Turkey. Currently headed by Leonilo Nicdao, a quality control supervisor of a garments factory, FILCom has actively organized the annual celebrations of Philippine Independence Day, food and sports festivals and the traditional Christmas party. The FILCom also actively assists other nationals as well helps in the campaign to register Filipinos as overseas absentee voters.

Another Filipino organization in Istanbul is called Ugnayan Services.
Formed in 2001, it aims to develop a long term capacity to provide assistance to Filipinos in distress. Ugnayan is currently headed by Catherine Mirano, who joined us during our dinner. She is a grade school teacher and a news correspondent with the Filipino Channel
–Europe.

The Filipino church choirs in Ankara and Istanbul are outstanding.
According to Ambassador Chan, they normally receive a warm ovation from parishioners after the Sunday masses where they sing.

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