Bilateral deal-making involving governments of West Asia.
Photo: tbz.foto / CC BY-NC-ND 2.0
Lebanon and Turkey signed a free trade agreement to increase bilateral trade and expand private sector cooperation, as well as to pave the way for the establishment of a free trade zone between Lebanon, Turkey, Syria and Jordan.
A senior Iranian trade official announced that Iran and Syria have prioritized setting up a joint bank in a bid to boost their bilateral trade ties.
The Palestinian Authority has opened trade talks with Brazil, Argentina and other Latin American countries, in an effort to boost economic and political ties with the fast-growing Mercosur bloc.
Iran is in talks with Syria to sign a free trade agreement (FTA) after Damascus and Ankara reached a similar deal, says the Iranian commerce minister.
Turkey will join an economic bloc comprising of the Middle Eastern states such as Syria, Lebanon and Jordan ahead of the protracted accession to the EU.
Syrian President Assad has expressed his interest in joining the Free Trade Zone within the Customs Union of Belarus, Russia and Kazakhstan.
Turkey has embarked on the road to a “Middle Eastern Union” as an alternative to the European Union, according to some observers, after Ankara unveiled its vision for a giant free-trade zone spanning from the Bosphorus to Sudan and Morocco.
Turkey aims to create a free trade zone without visa restrictions with Syria, Lebanon and Jordan, Foreign Minister Ahmet Davutoğlu told the Turkish-Arab Cooperation Forum (TAC), which began in İstanbul on Thursday.
Turkey, Lebanon, Jordan and Syria agreed yesterday to set up a free trade zone based on “existing bilateral agreements and practices on free trade and visa exemption” between the parties, adding that Turkey and Lebanon were required to complete a bilateral arrangement before the four-way process could go ahead.
Turkey’s prime minister has urged Arab nations to unite and step-up efforts to end Israel’s blockade on the Gaza Strip.