Business people to discuss FTA with US

World Bulletin 15.04.2013

Business people to discuss FTA with US

Turkish business world to discuss proposals for Turkey in reaction to an Free Trade Agreement between EU & US

World Bulletin/News Desk

A meeting of the Turkish business world to discuss proposals for Turkey in reaction to a possible Free Trade Agreement (FTA) between the European Union (EU) and the United States will take place in Istanbul on Tuesday under the chairmanship of Turkish Economy Minister Zafer Caglayan.

According to a statement released by the Turkish Economy Ministry, representatives of various Turkish business organizations would attend the "Istanbul Summit" which would also shape a road map for FTA talks between Turkey and the US before Turkish Prime Minister Recep Tayyip Erdogan visits the US in May.

Referring to the words of Zafer Caglayan right after the EU and US declared the beginning of talks for an FTA, the statement underlined that Turkish exports to the US were worth 5.9 billion USD and imports were worth 14.1 billion USD.

"There is already an imbalance in our trade relations with the US. If the US does not sign an FTA with Turkey, the imbalance would be greater. As such, we would like to sign an FTA with the US concurrently with the EU," Caglayan was quoted as saying in the statement of the Economy Ministry.

source: World Bulletin