S. Korean importers sign declaration of intent with Turkey

S. Korean importers sign declaration of intent with Turkey
The Korea Importers Association (KOIMA) and officials from the South Korean Ministry of Strategy and Finance signed a declaration of intent with Turkish businessmen on Tuesday, Today's Zaman reported.

The group, consisting of 20 Koreans, was hosted by the Turkish Exporters Assembly (TİM), the İstanbul Mineral and Metals Exporters' Association (İMMİB) and the Uludağ Exporters Union (UİB) in the province of Bursa, where both sides signed the declaration of intent to increase trade relations and cooperation between Korea and Turkey.

Speaking to participants at the signing ceremony, KOIMA Vice Chairman Gyu-Hwa Jang said: "Turkey has a great interest in the automobile and textile industry and we have a lot of knowledge and experience in these sectors. For this reason, I believe that bilateral cooperation will benefit both sides." Jang noted that, although it is his second visit to Turkey, he had not realized the full potential of the country's industry before coming to Bursa. Jang stated, "The name Bursa reminds me of the powerful soldiers of the Ottoman army [referring to Bursa as the backbone of the Turkish economy]. The textile, automotive and machinery sectors are very advanced. Turkey also manufactures a lot of popular brands."

Jang was pleased with the opportunity to see the industrial zone in Bursa and said: "Turkey and South Korea can achieve their common goals by cooperating as two close friends. As KOIMA, we want to invest in Turkey to export goods and overcome the trade imbalance between the countries. Currently Turkey has a disadvantage in trade and we want to work on this to improve relations."

UİB Deputy Chairman Orhan Gencoglu discussed the rapid increase in trade volume between Turkey and Korea and said: "The trade volume was $1.3 billion in 2003 and increased to $6.8 billion in 2011. Our wish is to work collectively to advance bilateral relations and increase the trade volume." Bursa's automotive industry exports are $20.4 billion and 72 percent of its recipients are in the European Union. This shows the high quality and advanced technology used in the automobile industry in Turkey.

South Korean President Lee Myung-bak came to Turkey on Feb. 4-7 for a visit aimed at discussing ways to expand cooperation in several areas, including Turkish plans to build nuclear power plants, as well as to discuss methods for expanding trade. Myung-bak expressed his desire to see a free trade agreement (FTA) between the two countries in the near future.

Korea-Turkey relations would go beyond a simple FTA in the new world economy, in the post-global crisis era, as the level of economic development in Turkey and Korea is now more comparable. The location of Korea in Southeast Asia, and Turkey at the crossroads of three continents, offers unique advantages for Turkey to enter Asian markets, and for Koreans to enter several diverse markets in the Middle East, Europe and North Africa. Additionally, the market potential of Turkey attracts large foreign investments, in addition to offering a high potential return in such diverse sectors as energy, health, agriculture, tourism, machinery, iron, steel and transportation, such as high-speed train manufacturing and shipping.

Data of Turkmenistan’s construction sector revealed
Data of Turkmenistan’s construction sector revealed
Azerbaijan's construction sector output to grow till 2026 - expert
Azerbaijan's construction sector output to grow till 2026 - expert
Construction of Chabahar-Zahedan railway line developing – İran's minister
Construction of Chabahar-Zahedan railway line developing – İran's minister
Loading Bars
Latest
Uzbekistan interested in co-op with French pharmaceutical company
Funds allocated for creation of heat supply system in Azerbaijan’s Shusha
France’s import of steel from Turkey up
Iran's Energy Exchange announces products to be on sale on May 9
Azerbaijani Finance Ministry places medium-term bonds on auction
Cotton spinning factory of Turkmenistan’s Lebap region names production data
Chevron should remain cautious in further increasing oil & gas production
Azerbaijan to continue online lessons in 10th-11th grades, minister says
Foreign shipping lines expected to return to Iran
Austria increases import of steel from Turkey
Fars Province to be connected to north-east and south-east of Iran via railway line
1Q2021 value of operations via interbank national settlements system in Azerbaijan down
United Arab Bank turns around with Dh10.2 million net profit
Azerbaijan's MoD shares video about Shusha - cultural capital of Azerbaijan
New jobs created in Iran's Ardabil Province
Turkmenistan's Turkmengas opens tender for overhaul of gas turbine engines
Iran’s Bahar Azadi gold coin price falls
World Cup in Baku became one of my favorite competitions - Azerbaijani gymnast (PHOTO)
Khazar Consortium opens tender for purchase of controller
Value of Iran's import of Turkish steel in 4M2021 grows
Russia’s coronavirus reproduction rate remains below 1
Azerbaijan sets up new military units in liberated lands (PHOTO)
Kazakhstan increases exports to UAE
Best moments of second day of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Kazakh gymnast shares impressions of Rhythmic Gymnastics World Cup taking place in Baku
Cult of personality of Garegin Nzhdeh in Armenia can be compared with that of Hitler in Nazi Germany – Russian analyst
Azerbaijan shares data on number of vaccinated citizens for May 8
EU sceptical on vaccine waiver, but ready to discuss proposal
Azerbaijan confirms 649 more COVID-19 cases, 1,720 recoveries
Iran declares details of exports from Ardabil Province
Uzbekistan projects volume of direct foreign investments for 2021
Exports via Iran's Sistan and Baluchestan Province up
Turkey's 4M2021 export of steel to Georgia surges in value
China boosts import of Azerbaijani products y-o-y
Azerbaijan's Central Bank unveils data on foreign exchange transactions over March 2021
Azerbaijani Ro-Pax type ferry reaches Kazakh port of Kuryk (PHOTO)
G-7 countries back Taiwan's observer status in World Health Assembly
Lack of minefield maps delays mine clearance - Trend TV
Uzbekistan’s 1Q2021 cars export revealed
Results of Azerbaijani gymnasts’ performance in exercises with clubs, ribbons as part of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Turkish Energy Ministry prolongs oil, gas exploration licenses for several companies
Azerbaijani president displayed successful strategy on battlefield and in media - two tactics of Great Victory
Turkmenistan sees active dev't of cotton industry
Latvia reveals main economic indicators of bilateral cooperation with Georgia
Iran discloses number of restored mines in South Khorasan Province
Germany's confirmed coronavirus cases rise by 15,685
Azerbaijan's CBC radio starts broadcasting in Karabakh
Iran's Khorasan Razavi Province to increase trade with Turkmenistan
First Vice-President Mehriban Aliyeva made Instagram post on Shusha (VIDEO)
Iran to import Coronavirus vaccine - President Rouhani
Uzbekistan, Kazakhstan implementing road and railroad construction projects
Competitions in Baku always held at highest level - Slovenian gymnast
Azerbaijani Defense Ministry discloses events to be held on occasion of Victory Day - May 9
Buy/sell operations at Iran Mercantile Exchange revealed
Iran Khodro Diesel Company boots its production
Azerbaijan’s Baku city always warmly welcoming - Ukrainian gymnast
Uzbekistan's international reserves grow
Sri Lanka approves Pfizer COVID vaccine for emergency use
Turkmenistan signs decree on pardon for Qadr Night
Uzbekistan Railways plans to resume railway communication with Russia and Kazakhstan
Iran's IMIDRO begins study of public and comparative discovery in Albalaq mine
Azerbaijan’s Azerenergy company names winner of tenders for maintenance of IT equipment
Number of Azerbaijani insurance companies entitled to operate within Green Card system increase
Kazakhstan’s Intergas Central Asia company opens tender to attract services
Baku Stock Exchange unveils 4M2021 transactions on corporate securities
Azerbaijan expanding cooperation with Czech Republic in nanotechnologies
Iran reveals COVID-19 data for May 8
Uzbekistan suspends flights to Turkey and India
Scientific conferences, organized by Baku Higher Oil School on occasion of 98th anniversary of National Leader Heydar Aliyev, are coming to an end (PHOTO)
Uzbek ministry extends tender for pumping and power equipment
Saudi Crown Prince, Pakistan’s PM hold talks as bilateral agreements, MoUs signed
Russia records another 8,329 new daily coronavirus cases
Kazakh-Turkish JV launches tender to attract equipment inspection services
Iran's Shahid Tondgooyan Petrochemical Company plans to increase production
Azerbaijani Central Bank makes allocations for software platform support
Israel among 12 ‘green’ countries okayed for UK summer travelers
Rhythmic Gymnastics World Cup in Baku organized at high level - Georgian gymnast
Kazakh oil refinery opens tender to attract examination services
Int'l Judo Federation thanks Azerbaijan for return of previously detained Armenian judoka
Kazakh Gas Processing Plant opens tender on supply of diesel fuel
Interest in Georgian aviation market growing amid COVID-19
Auto sector urges U.S. Congress to help fund its computer chip needs
Iran’s ISOICO declares amount of attracted funds
Mine clearance work on Fuzuli-Ahmadbayli highway continues in Azerbaijan (PHOTO)
Turkmenistan exceeds plan for transport, communication sector
World Cup competitions at Baku National Gymnastics Arena continue (PHOTO)
Georgia reports 1,564 new coronavirus cases for May 8
Data of Turkmenistan’s construction sector revealed
Supplies of Uzbek cherries to foreign markets to decrease
PASHA Capital - 4M2021 leader in Baku Stock Exchange operations
Uzbekistan developing strategy for promoting textile products to EU market
Turkmenistan records growth in agro-industrial production
S. Korean company eyes producing medical devices in Uzbekistan’s Kashkadarya region
Iran’s GTC unveils volume of wheat purchased from farmers
Prices for gold, silver continue to rise in Azerbaijan
Indicators of Turkmenistan’s oil, gas sector growing
Uzbekistan reveals COVID-19 data for May 8
France to impose quarantines for arrivals from 7 more countries, including UAE, Qatar
Turkish Energy Ministry bans local company from participating in BOTAS tenders
Russian, Tajik presidents to discuss bilateral ties, Tajik-Kyrgyz border clashes
All news