Extensive trade deal will be realized within a year, Turkey's Economy Minister says.
Turkey and Turkmenistan are set to remove obstacles to free trade between the two countries this year, Turkey's Economy Minister has said.
Nihat Zeybekci told the Turkmenistan-Turkey Business Forum on Tuesday that the move will establish an extensive trade agreement by 2015.
Zeybekci said: “Until the end of this year, we will negotiate, finalize and sign an agreement which can be identified as a free-trade agreement, economic cooperation or preferential trade agreement, or whatever you would like to call it."
"We will put this agreement into process in 2015. Hence, new horizons will open.”
Increase in trade
The forum in Ankara, held by the Turkish Union of Chambers and Commodity Exchanges (TOBB), hosted top officials from Turkey and Turkmenistan governments including Zeybekci and Turkmenistan's Deputy Prime Minister for Trade, Palvan Taganov.
Zeybekci praised Turkmenistan's investments and businessmen, saying he felt proud seeing Turkish investors and investments becoming Turkmenistan’s own during his visit to Turkmenistan last year.
Turkmen Deputy Prime Minister for Trade Palvan Taganov said the annual trading volume with Turkey had reached $5 billion, adding the trade volume for the first quarter of 2014 had increased by 165 percent compared to the same period in 2013.
“Yet, there are still many fields that this trade volume can be improved, such as energy, chemistry, automotive, construction, textile and tourism industries,” Taganov said.