We are working on a project to establish joint free zone with Iran, Çağlayan said

Turkish State Minister for Foreign Trade Zafer Çağlayan said October 5 his ministry was working on a project to establish a joint free zone at the Turkish-Iranian border. Speaking at the meeting of the Turkish-Iranian Business Council in İstanbul, Çağlayan said “The global crisis devastated the economies of the world. A global crisis requires a global solution and countries of the world must increase commercial relations among themselves. As such, the current visit of 200 Iranian businessmen to Turkey carries high importance” Çağlayan said. He also added that in the next decade, more than $130 billion of investments would take place in the energy field in Turkey, and he expects to see Iranian businessmen involved in Turkey’s energy sector.

The trade volume between Turkey and Iran was $10.5 billion in 2008 but is expected to drop to $ 6.5 billion in 2009. Turkey and Iran desire to increase that trade volume by creating a joint free trade zone. Unmentioned is the Iranian nuclear issue and possible trade sanctions, which would make all discussion of free trade zones root. 

Source: Today’s Zaman

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