TURKEY PURSUES NEW FTAs

Turkey is pursuing new generation comprehensive free trade agreements (FTAs) which include services, investments and public procurement, alongside trade in goods, in order to increase exports, strengthen the competitiveness of manufacturing and attract foreign capital, according to Minister of Trade Mehmet Mus. The government is also preparing a strategy for increasing exports to distant countries to evaluate their commercial and economic potential. “We aim to nearly quadruple exports to 17 countries with an average distance of 8,650 kilometers away,” said Mus during his speech at the closing session of the 34th Foreign Economic Relations Board (DEIK) Ordinary Financial General Assembly. Turkey is continuing comprehensive FTA negotiations with Japan, Thailand and Indonesia in the Asia-Pacific region as well as Ukraine. It is also in ongoing talks to expand the scope of FTAs with Georgia and Moldova. “We are also seeking FTA opportunities with Southern Common Market (MERCOSUR) countries alongside of Peru, Ecuador, Colombia and Mexico in Latin America,” said Mus.