Turkiye and Gulf Countries Begin Free Trade Talks

Minister of Trade Omer Bolat announced that an agreement was reached between Turkiye and the Gulf Cooperation Council to start free trade agreement negotiations.

Minister of Commerce Omer Bolat said that today they signed a historic signature to start the Free Trade Agreement negotiations between Turkiye and the Gulf Cooperation Council (GCC).

According to the signed joint declaration, one of the world’s largest free trade areas with a value of $2.4 trillion will emerge between Turkiye and the GCC members consisting of Bahrain, Qatar, Kuwait, Saudi Arabia, the United Arab Emirates and Oman.

Bolat said, “The agreement will liberalize trade in goods and services, facilitate investments and trade, and increase our country’s trade with the region and investments from the Gulf Region into our country to much higher levels.”

Source: Bloomberght / Prepared by Irem Yildiz

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