Turkish Prime Minister Recep Tayyip Erdogan said Tuesday Istanbul was a bridge not only between continents but also between civilizations, cultures, economies and commercial regions. Speaking at the inauguration of the annual meetings of IMF and World Bank in Istanbul, Erdogan said that he welcomed all to Turkey and Istanbul with warm regards.

Turkey and Istanbul hosted the annual meetings of IMF and World Bank in 1955. Turkey hosts the meetings again after 54 years. I would like to express the happiness of my people and myself over welcoming you, the distinguished guests, to Istanbul one more time, Erdogan said.

I hope that the meetings in Istanbul would be beneficial at a time when we are going through a critical process as far as global economy is concerned, Erdogan underlined.

You are now on lands that invented the first currency in history. I would like to use this opportunity to remind you that you are also in a city that spreads on two continents, Erdogan said.

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The Bosphorus Strait connects Asia to Europe. I am confident that the city of Istanbul, a city which unites civilizations, cultures and economies, will be the host for a meeting that will leave a mark on the global economy and will help us bring together our strengths and experiences, Erdogan said.

Erdogan stressed that strong policy measures have yielded positive results in the world.

This is a pleasing development. However, we must not let go precautions in our economies, Erdogan said.

There is a need to re-evaluate the distribution of roles and responsibilities in the global economy, Erdogan noted.

I, once again, want to welcome you all to Turkey and Istanbul and hope that you will enjoy the beauties of an unique city Istanbul, Erdogan also said.