World Bulletin / News Desk
Turkish Economy Minister Zafer Caglayan and South Korean Trade Minister Taeho Bark signed a free trade agreement between the two countries during a ceremony in Turkish capital Ankara on Wednesday.
Caglayan said that the two countries which had two trillion USD of national income, 1.5 trillion USD of foreign trade volume and more than 120 million population took an important step in the aspect of economic integration by signing Free Trade Agreement.
I hope this free trade agreement, which is a first for Turkey in Far East, will help the two countries to learn about each other more, said Caglayan, adding that the two countries would make important partnerships in third countries within the scope of the agreement.
Caglayan said that South Korea was the 7th biggest exporter and 10th biggest importer of the world, adding that Turkey's share was around 1.5 per thousand in South Korea's total import worth of 524 billion USD.
Caglayan also said that the investments of South Korean businessmen in Turkey, which was 688 million USD, was not enough, and he expressed hope that the figure would increase thanks to Turkey's New Incentive System.
Caglayan said that Turkey would sign free trade agreements with Malaysia and Japan soon.
Meanwhile, South Korean minister said that the relations between Turkey and South Korea recently increased to the strategic partnership level, adding that the Free Trade Agreement would be a basis to set up a systematic cooperation between the two countries.
Bark expressed belief that the agreement would boost the commerce between Turkey and South Korea.
Under the Free Trade Agreement, Turkish entrepreneurs will gain important advantages by benefiting from South Korea's free trade agreements with other countries, added Bark.
Kurdish regional government’s finance minister says the administration's revenue from oil sales via Turkey totals $170 million so far.
Simulatenous raids across Turkey saw 11 police officers arrested for alleged involvement in wiretapping scandal.
Turkish dailies' front pages were heavily dominated Friday by the nomination of Turkey's foreign minister, Ahmet Davutoglu, as new prime minister, thus succeeding President-elect Recep Tayyip Erdogan.
Turkey imported 45.2 billion cubic meters of natural gas last year, a 1.42 percent decrease on 2012.
Turkey's Foreign Minister Ahmet Davutoglu will take over as the Prime Minister of the country and chairman of the ruling AK Party from outgoing president-elect Recep Tayyip Erdogan. Davutoglu has played a crucial role in Turkish foreign policy for more than a decade
Media claims that Turkey will hand over the Suleiman Shah base in Syria to the Islamic State (IS) in return for the release of 49 Turkish consulate staff kidnapped in Iraq's Mosul since June are an example of "irresponsibility", said Ankara.
“We are aiming to double our shares in the projects following years” said Turkish energy minister Taner Yildiz.
Today's newspapers covered claims that Germany's foreign intelligence agency has been spying on Turkey, further speculation on Turkey's future prime minister and President Barack Obama's comments on the killing of American journalist James Foley.
A spokesman for the Turkish Foreign Ministry urged the United States to respect press freedom.
An "anti-terrorism" campaign -- focusing on East Turkestan (Xinjiang), home to the Turkic Uighur Muslim ethnic group -- was launched by China’s central government May 23.
Turkish dailies reported Wednesday clashes over the demolition of a statue to a PKK founder, indications that Turkey's foreign minister could take over the prime ministerial post and protests over the death of an unarmed black teen in Missouri, the U.S.
Outgoing Turkish President Gul said 'As far as it seems, Foreign Minister Ahmet Davutoglu will take over as prime minister'
Turkey's year-end growth forecast increased to 2.7 percent, senior economist says.
The Eritrean capital Asmara becomes Turkish national flag-carrier's 42nd destination in Africa
One person has been confirmed dead after clashes broke out when security forces arrived to remove an illegal statue of a PKK leader.
Turkish Energy Minister Taner Yildiz called for the lifting of an Israeli blockade so power can be delivered to Palestinians.