Turkey is celebrating the seventy-fifth anniversary since the founding of the republic today, with parades and ceremonies attended by foreign leaders.

As part of the celebrations, the government hopes to sign an agreement with visiting presidents from Central Asia about a proposed oil pipeline running from the Caspian sea to the Turkish port of Ceyan on the Mediterranean.

However, Georgia and Russia could offer cheaper routes, and the president of Azerbaijan, Heydar Aliyev, is reported to have said a decision has been postponed.

The BBC correspondent in Ankara says Turkey hopes that a declaration signed by five regional presidents Turkey, Azerbaijan, Georgia, Turkmenistan and Kazakhstan will persuade oil companies to invest in the route running through Turkey.