Gulf countries, Turkey sign FTA deal
China Daily, 30 May 2005
Gulf countries, Turkey sign FTA deal
The six-nation Gulf Cooperation Council and Turkey signed an agreement Monday to begin negotiations on a free trade agreement (FTA).
Turkish trade official Bayram Kacar said the deal is aimed at boosting economic ties between Turkey and the GCC, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
We have much more potential to improve economic ties between the two sides,'' said Kacar, part of the 15-member delegation headed by Foreign Minister Abdullah Gul.
Negotiations will begin in July and the agreement is expected to be finalized within a year, Kacar said.
The agreement was signed by Gul and GCC Secretary-General Abdulrahman al-Attiyah.
Turkey and GCC annual trade stands at US$3 billion (euro2.4 billion), just 1 percent of the nearly US$300 billion (euro240 billion) total annual trade of the Gulf alliance, noted Kacar.
Meanwhile, Bahrain's Foreign Minster Sheik Mohammed bin Mubarak Al Khalifa and Gul signed amemorandum of understanding’’ on Monday to ease the travel of citizens of both countries to each other’s nations.
Since May 1, Turkey has one-sidedly began giving Bahrainis visas upon arrival. It is hoped that the memorandum will pave the way for exempting the citizens of both countries from any visa fees or restrictions, said N. Murat Ersavci of the Turkish foreign office.
