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.
A Mavi Marmara lawyer says human rights court has decided to hear from all those onboard during 2010 Israeli operation.
The Turkish EU minister has said that talks between Turkey and EU discussing the customs union between the two partners will begin in January 2016.
Multinational French food producer acquires Turkey's 33 largest industrial corporation.
Most papers cover President Erdogan’s remarks on Turkey’s defense production plus the sale of the country's largest internet food delivery service by German giant Delivery Hero.
In the past five days, the Turkish coastguard has rescued more than 600 migrants trying to cross the Aegean sea. Many of the women and children were rescued from rubber boats.
European Commission's Spring Economic Forecast indicates a revival of domestic demand that will help support growth.
Turkey's head of Presidency of Religious Affairs Mehmet Gormez says has returned his official car saying, 'This car is a grave for me and I do not want to enter a grave.'
Multi-million dollar Ordu-Giresun Airport, located off Turkey’s Black Sea coast, to open in May.
Berlin-based online food multinational takes over Turkey's largest Internet food delivery Yemeksepeti in $589 million deal.
Turkish dailies on Tuesday mainly covered President Erdogan's criticism of two opposition parties.
Turkish dailies have reported that a security manager Sinan Seyfettinoglu, who works at the American Consulate in Adana, is allegedly involved in spying in Turkey.
Turkish dailies on Monday focused on the election manifesto of Turkey's Nationalist Movement Party for June 7 elections and on alleged chemical attacks perpetrated by Syrian regime in Idlib.
Kristijan Durasek wins 51st Presidential Cycling Tour of Turkey, Spanish cyclist Luis Mas Bonet claims final stage win.
Erdogan criticizes pro-Kurdish party's mayors for not greeting him at airport during speeches in Diyarbakir and Batman.
More than 300 people detained under new domestic security law.
On Friday Cavusoglu told Turkish daily, Sabah, that the U.S. and Turkey share the view of a Syria without President Bashar Assad.