November 1, 2008 - 16:08 AMT
Ali Babacan: Turkey to do everything in its power to normalize situation in the region
Turkey's Foreign Minister Ali Babacan voiced optimism that long-running disputes between Turkey and Armenia, and Armenia and Azerbaijan can be resolved and that Turkey is determined to push forward in the interests of regional peace.

"These two tracks could move fast because there is good political will," Babacan said at a meeting of the World Economic Forum in Istanbul.

"Imagine a region in which you have totally new relations between Azerbaijan and Armenia, and Armenia and Turkey. The consequences for trade, for communications, for transport, for energy and the opportunities are huge, so we will do our best to normalize the situation as soon as possible," Babacan said.

Babacan said Friday that the recent events in Georgia increased the incentive and need for regional cooperation and said that Turkey was ready to use its perceived position as a "balancing power" to contribute to peace and stability, ANS Turkish TV channel reported.