Turkey, Arab states of Persian Gulf to sign free trade agreement
Azerbaijan, Baku, Feb.7 / Trend, A.Taghiyeva /
A free trade agreement between Turkey and the Cooperation Council for the Arab States of the Gulf will be signed in the near future, Turkish Trade and Customs Minister Hayati Yazici said, website of the Union of Chambers and Commodity Exchanges of Turkey reported on Tuesday.
According to the report, work is underway to accelerate the negotiations.
Mr Yazici said trade turnover between Turkey and the member states of the Council hit $12 billion in 2011. Thanks to the free trade agreement, this figure can double.
He also urged Arab entrepreneurs to increase investments in Turkey as the country's economy is growing rapidly in recent years.
Mr Yazici said the main purpose of free trade agreement is eliminating trade barriers between member countries and simplify the process of attracting investment.