Free trade negotiations started between Türkiye and the Gulf
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An agreement was reached between Turkey and the Gulf Cooperation Council to start free trade agreement negotiations.
Minister of Trade Ömer Bolat spoke at the “Gulf Cooperation Council Free Trade Agreement (FTA) Joint Declaration Signing Ceremony” held at the Ministry.
Bolat said that they signed a decision with GCC Secretary General Casim Muhammed el-Budeyvi, aiming for a comprehensive FTA that will take the rapidly developing relations with the Gulf countries to the next level.
Bolat shared the information that “Turkey’s trade volume with the Gulf Cooperation Council member countries, which was 2.1 billion dollars in 2002, increased to 22.7 billion dollars in 2022 and 31.4 billion dollars in 2023.”
TOTAL TRADE IS 2.4 TRILLION DOLLARS
Stating that the total foreign trade volume of Turkey and the six Gulf countries is over 2.4 trillion dollars, Bolat said, “In line with the multidimensional aspect of our relations, we foresee that our agreement will not be limited to trade in goods only.” made his assessment.
Bolat stated that Turkey has important commercial partners in the Gulf Region and that the region is an important financial center for companies doing business in Africa and South Asia, and said:
“We have no doubt that the comprehensive FTAs to be signed between our friendly countries will play a key role in further deepening our relations and contributing to the welfare of our people. As the Minister of Trade, I would like to emphasize my belief that the negotiations will be completed as soon as possible. I see today as a new beginning and that this beginning will be the result of Turkey and GCC member “I hope it will be beneficial on behalf of the countries.”
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