Deliberations to ink a free trade agreement (FTA) with Turkey will “soon” conclude successfully, South Korean President Lee Myung-bak told reporters in İstanbul on Saturday, signaling that talks which have been ongoing for almost two years between the two countries will finally yield fruit.
I will disclose details of a private meeting between Turkish and EU officials to shed some light on what has been a rather sour note between Ankara and Brussels for more than a decade now. The gathering took place amid a eurozone sovereign debt crisis and tumultuous Arab revolutions, both of which have put Turkey's growing trade under considerable strain.
Turkish trade with the GCC (Gulf Cooperation Council), in spite of considerable positive progress in recent years, is lagging far behind its potential. Negotiations for a free trade agreement between Turkey and the GCC were launched in November 2005 but are still ongoing and are expected to conclude soon. The delays appear to have been linked above all to the global economic crisis with the talks suspended for a while in 2008-2009, according to a report "Turkey and the GCC: A strengthening Relationship" issued by the National Commercial Bank (NCB).
Ghana and Turkey will by January 2012 conclude bilateral negotiations for a free trade agreement aimed at increasing trade volumes between the two countries.
Kyiv and Ankara will begin talks on the creation of a free trade area (FTA), Ukrainian President Viktor Yanukovych and Turkish Prime Minister Recep Tayyip Erdogan said at a press conference in Ankara on Thursday.
Pakistan and Turkey will finalise the Preferential Trade Agreement (PTA) next year to boost bilateral trade, Murat M Onart, Consul General of Turkey said on Monday.
South Africa has rejected Turkey's proposal for a free trade agreement between the two countries saying that this would encourage "destructive competition that will undermine our industrial and employment objectives".