Turkey to sign Free Trade Agreement with South Korea

Posted on 13 April 2012

Istanbul, 27 March 2012 – Turkey has signed the framework for a new Free Trade Agreement with South Korea. On a recent visit to Seoul, Recep Tayyip Erdogan, Turkey’s Prime Minister, accompanied by Turkey’s Minister of Foreign Affairs, Minister of Energy and Natural Resources, Minister of Economy and Turkey’s Inward Investment Agency, said “Turkey offers significant investment opportunities. The Turkish government is ready to take any measure to support foreign investors, including easing red tape”. The Prime Minister also made special reference to the car maker Hyundai which is about to increase its Turkish production to 200,000 vehicles per annum. Currently the trade volume between Turkey and South Korea stands at approximately 7 billion USD, the new Free Trade Agreement is expected to significantly increase this number. Source: Invest in Turkey

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