Turkey, Thailand start negotiations to clinch free trade deal

ANKARA

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Turkey and Thailand have commenced negotiations to sign a free trade deal, the economy ministers of both countries announced on July 19. 

Speaking at a press meeting in Ankara along with his Thai counterpart, Apiradi Tantraporn, Turkish Economy Minister Nihat Zeybekci said the planned free trade agreement (FTA) would boost bilateral trade by 40 percent. 

Zeybekci noted that a deal covering goods trade is planned to be inked in the initial stage, with investments, services and electronic commerce to be included in the upcoming period.
 
In a bid to boost its bilateral economic and trade ties with Asia Pacific countries, Turkey has also been in talks for an FTA with Japan, Indonesia and Vietnam. 

Its deal with South Korea and Malaysia became operational and the deal with Singapore is in parliament for approval, Zeybekci noted. 

“Our technical delegations finalized impact analyses on the road to an FTA with Thailand. On the basis of these analyses, we expect to boost our bilateral trade by 40 percent in the initial stage. In a three-year period after the deal is signed, we aim to double our bilateral trade,” he added. 

Apiradi said the Thai government wanted to make a comprehensive deal with Turkey.

“We will celebrate the 60th anniversary of our bilateral economic ties next year. We want to sign the deal by 2018,” she added. 

Following their speeches, the two ministers signed a joint declaration to mark the beginning of their FTA negotiations.