Turkey has embarked on the road to a “Middle Eastern Union” as an alternative to the European Union, according to some observers, after Ankara unveiled its vision for a giant free-trade zone spanning from the Bosphorus to Sudan and Morocco.
Turkey aims to create a free trade zone without visa restrictions with Syria, Lebanon and Jordan, Foreign Minister Ahmet Davutoğlu told the Turkish-Arab Cooperation Forum (TAC), which began in İstanbul on Thursday.
Turkey, Lebanon, Jordan and Syria agreed yesterday to set up a free trade zone based on “existing bilateral agreements and practices on free trade and visa exemption” between the parties, adding that Turkey and Lebanon were required to complete a bilateral arrangement before the four-way process could go ahead.
Prime Minister Mohammad Naji Otri and Turkish Minister of State for Economic Affairs Zafer Caglayan on Wednesday discussed means and ways of bolstering the standing cooperation between Syria and Turkey.
Lebanese Prime Minister Saad Hariri said during a meeting with Turkish and Lebanese businessmen in Istanbul on Tuesday a free trade agreement between Lebanon and Turkey will soon be signed.
Jordanian Prime Minister Nader Dahabi made a whirlwind visit Thursday to Baghdad, signing a free-trade agreement that Jordan hoped would serve as a catalyst for boosting trade with neighbouring Iraq
Qatar and Singapore will sign a free trade agreement covering areas like trade in goods and services, e-commerce, investment, government procurement, customs and media cooperation on 15 December.