Tender process starts for US-eyed project

ANKARA - Hürriyet Daily News

The Economy Minister Çağlayan meets Turkish, American bosses. AA photo

Turkey should be at least an observer during the European Union’s trade deal negotiations with third countries, Economy Minister Zafer Çağlayan has said during his three-day visit to Texas, in the United States.

Çağlayan stated that the EU’s free trade deals with third countries blocked Turkey’s right to the free movement of goods because it faced quotas, during his visit between April 1 and 3.

He criticized the fact that the Customs Union Agreement between the EU and Turkey created unfair competition. In addition, the Transatlantic Free Trade Agreement between the EU and the U.S. would seriously affect Turkey’s economy under current conditions.

“Turkey should simultaneously start negotiations with the U.S. when the EU does. Turkey should be given a place as observer at least during the negotiations [of the EU] with third countries,” Çağlayan said.

However, Çağlayan said during the Turkish-American Business Forum that the economic relations between the US and Turkey were “like a platonic love,” as Turkey’s exports to the US were worth $5.6 billion while its imports from US were worth $14.1 billion last year.

Çağlayan said yesterday that they have reached the final stage in a possible agreement with Energy Allied, a U.S. company willing to invest in Turkey, and that the company was planning to make an investment worth $3 billion within the scope of the incentives.

He said they had reached the final stage with Energy Allied, an energy company willing to invest in Turkey in the area of petrochemicals, at a press event held in Austin before departing for Los Angeles. Energy Allied plans to establish facilities to produce coal, ammonium, urea and sulphuric acid, he said.