Turkish minister promotes digital economy

The privilege of some currencies can be cut by utilizing the tools of digital economy, Turkish Technology and Industry Minister Mustafa Varank said on Friday.

"With the tools of digital economy, we can find ways for implementing a payment and exchange system free from political interventions. This way, we can also break the privilege of some currencies," Varank said during his speech at the G20 Digital Economy Ministerial Meeting in the northern Argentine province of Salta.

Varank noted that the world is at the beginning of unprecedented changes.

"Digital economy is becoming the trigger of [the] new industrial and financial revolution," he said.

"Countries that promote [an] innovative, integrated and data-driven public sector would be the stars of the digital age," he added.

Citing that the trade wars were shaping the whole global agenda, Varank said no one wins a trade war.

"Two weeks ago, Turkey, unintentionally became a part of the war. As a result, we saw some volatilities in our currency which had no rational macro-economic base," Varank said.

He noted that the country dealt successfully with attack thanks to "well-planned and decisive steps" the government has taken.

"My point is here that, this happened to Turkey and the risk stands for all the countries, they might face the similar situation," he warned.