South Korea and Turkey sign free trade treaty

Ankara, 2 August 2012 – Turkey and South Korea have signed their long standing relation with a free trade agreement. At the signing by Turkey’s Minister of Economy, Zafer Caglayan and South Korea’s Minister of Trade Taeho Bark, Caglayan said “This agreement constitutes an important step towards the economic integration of two countries with a combined GDP of USD 2 trillion, a foreign trade of USD 1.5 trillion and a population of 120 million”, adding “As the first free trade agreement signed between a Far Eastern nation and Turkey, the deal will help Turkey and South Korea to get closer economically. Moreover, it will pave the way for entrepreneurs from both countries to do business together in third countries”. Source: Invest in Turkey

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