Business

Turkiye: Trade volume increases with countries with free trade agreements

Continuing to make new breakthroughs in foreign trade, Turkiye continues to expand the scope of agreements in force, while increasing the number of countries with which it has signed free trade agreements. Thus, new records are being set in foreign trade.

Turkiye currently has 22 free trade agreements in effect. Free trade agreements signed with the European Free Trade Association and 21 countries are updated and revised from time to time and their scope is expanded. Thus, Turkiye’s place and position in the international market is always preserved and developed.

Work continues on new free trade agreements. The agreements signed with Lebanon, Sudan and Qatar will enter into force after the internal approval processes of the countries.

It is aimed to conclude the negotiations with Georgia and Malaysia in a short time, and to start negotiations with Moldova and North Macedonia soon.

The trade between Turkiye and the countries with which it has signed a free trade agreement in 2021 is remarkable.

While exports to these countries were $40.9 billion, imports amounted to $28.8 billion. The total trade volume rose to $69.7 billion.

Trade with countries with free trade agreements continues to increase this year. In the first 5 months, exports exceeded $18 billion and the total trade volume exceeded $33 billion.

The share of world exports exceeded 1%

Turkiye’s total exports in the last 12 months approached $243 billion. In the statistics for the year 2021 announced by the World Trade Organization, it was seen that the share of Turkiye in world exports exceeded 1%.

Source: Haberturk / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published.

Back to top button