SEOUL, KOREA - "The Turkish government has signed a free trade agreement with Korea ahead of any countries in East Asia. We will abolish all import duties on Korean manufactured goods within seven years, with significant cuts in all kinds of corporate taxes."

 

Mustafa Naci Saribas, Turkish Ambassador to Korea, said this on April 29 in an interview with the Korea Economic Daily just ahead of the May 1 official kickoff of the bilateral treaty.

 

"The trade volume between the two countries will be enlarged up to $10 billion within a few years from current $7 billion. Korean exporters and investors must look at Turkey's geographical advantage connecting three continents from Europe to Africa and Asia, as well as the Turkish economy's strong growth potential," he added.

 

Given the fact that the Turkish government has appointed ambassadors to ten African nations for the past two years, he said, "Turkey could be an excellent bridgehead for Korean companies to enter the African market."

 

In celebration of taking effect of the Korea-Turkey FTA, the Turkish government will hold the "Eureka Day 2013" in Istanbul in mid-May to link Korean companies with European corporations and public organizations in the area of technology. In addition, the Gyeongju World Culture Expo 2013 will be held at the end of August for 23 days in Istanbul.