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Turkey seeks FTA with GCC

DUBAI — The Turkish government may begin a dialogue with AGCC countries to begin the talks on Free Trade Agreement later this year, said Harun Kaçak, Turkey's commercial attaché, to UAE.

Kaçak, said: "In current year we have placed the export target at $80 billion against the actual exports of $63 billion recorded in 2004. Out of the total exports, 60 per cent is exported to Europe and 12 per cent is exported to Middle East which is pegged at a target of 30 per cent in current year. Turkey has gained a place among the 20 largest economies in the world with a GNP of almost $300 billion. Turkey's ranking is set for a further boost next year following a projected 53 per cent increase in trade exchanges with UAE, on which the country depends for much of its exports to the Middle East region."

Abdul Rahman Ghanem Al Mutaiwee, director general, Dubai Chamber of Commerce and Industry, said: " The exhibition will help boost Turkish business in UAE which has a strong presence in various sectors like construction, building material and fashion. The exhibition can be explored by business fraternity in Dubai to further consolidate the trade relations between the two countries."

The total trade between Turkey and UAE will rise from $1.3 billion in 2004 to $2 billion in 2005, indicating an increase of over 50 per cent in just one year. These figures are attributed to the higher demands in the region for Turkish construction, machinery, furniture and textile goods, added Koçak.

Meanwhile, Turkey's commercial attaché also announced the details of its maiden exhibition in Dubai called 'Made in Turkey', which begins on June 4. The exhibition will have a total participation from 217 companies. Dubai currently has around 123 Turkish companies operating.

Turkey has implemented more liberal foreign trade policies and also diversified its exports seeing a shift from agricultural to industrial products over the last few years. Turkey is already an open economy, which has led to imports and exports combined represent more than 50 per cent of the GNP. Although the EU remains the largest market for Turkish exports with a 55 per cent share in 2004, exports to these 'neighbouring and surrounding' countries, which include some Middle East nations, have increased by around 40 per cent to over $20 billion, representing a 35 per cent share overall.

Turkey is also working hard to re-position itself as a country, which produces high quality goods at low costs, and this will be a main aim of the 'Made in Turkey' exhibition, alongside fostering new and existing trade relations between Turkey and the Gulf region.

"Our target is to facilitate the building of new business contacts between Turkish companies and potential Arabic customers," explained Kacok. "The show gives us an opportunity to educate businesses in the region about the high quality of Turkish goods and generate a positive perception of Turkey and Turkish export products."