ID :
200865
Fri, 08/12/2011 - 11:39
Auther :
Shortlink :
http://m.oananews.org//node/200865
The shortlink copeid
Turkey wants to seal FTA with Korea by year-end: Turkish minister
SEOUL, Aug. 12 (Yonhap) -- Turkey hopes to strike a free trade deal on goods with South Korea by year-end in an effort to boost bilateral trade, the visiting Turkish economy minister said Friday.
The two countries held their latest round of talks on a bilateral free trade agreement (FTA) in the Turkish capital of Ankara in early March, making headway in the goods sector. But both sides remained split over services, investment and other issues.
"Both sides have narrowed differences over goods trade, nearing an agreement," Zafer Caglayan told reporters. "I hope both sides can seal a deal on goods by the end of this year."
"Ankara will push to hold negotiations on services and investment early next year," said Caglayan, who arrived here on Wednesday for a four-day visit.
The minister said working-level negotiators from both countries will meet in September or October to hash out remaining differences.
In April last year, South Korea kicked off FTA talks with Turkey as part of its efforts to help boost its exports. Last year, South Korea exported goods worth US$3.75 billion to Turkey with imports reaching $516 million.
Caglayan also said that Turkey will be able to offer business opportunities for South Korean companies, especially builders and energy concerns.
"There is huge demand for undersea tunnels, oil pipes and highways. I expect a lot of big Korean companies, like POSCO, will take part in such projects," he said.
POSCO, South Korea's leading steelmaker, is building a $350 million cold-rolled stainless steel plant in Turkey as part of efforts to meet rising demand in eastern Europe. The factory, scheduled for completion in 2013, will have an annual capacity of 200,000 tons.
elly@yna.co.kr
The two countries held their latest round of talks on a bilateral free trade agreement (FTA) in the Turkish capital of Ankara in early March, making headway in the goods sector. But both sides remained split over services, investment and other issues.
"Both sides have narrowed differences over goods trade, nearing an agreement," Zafer Caglayan told reporters. "I hope both sides can seal a deal on goods by the end of this year."
"Ankara will push to hold negotiations on services and investment early next year," said Caglayan, who arrived here on Wednesday for a four-day visit.
The minister said working-level negotiators from both countries will meet in September or October to hash out remaining differences.
In April last year, South Korea kicked off FTA talks with Turkey as part of its efforts to help boost its exports. Last year, South Korea exported goods worth US$3.75 billion to Turkey with imports reaching $516 million.
Caglayan also said that Turkey will be able to offer business opportunities for South Korean companies, especially builders and energy concerns.
"There is huge demand for undersea tunnels, oil pipes and highways. I expect a lot of big Korean companies, like POSCO, will take part in such projects," he said.
POSCO, South Korea's leading steelmaker, is building a $350 million cold-rolled stainless steel plant in Turkey as part of efforts to meet rising demand in eastern Europe. The factory, scheduled for completion in 2013, will have an annual capacity of 200,000 tons.
elly@yna.co.kr
