9/7/2009

Turkey sets its sights on preferential trade agreement with Turkmenistan

AA - Turkey's State Minister Zafer Caglayan said that he has suggested that Turkmen officials sign a preferential trade agreement with Turkey. After holding talks in China, the Xinjiang Autonomous Region and Turkmenistan, Caglayan met with reporters in the Turkmen capital of Ashkabat and briefed them on his recent meetings. Noting that almost 90 percent of the infrastructure work in Turkmenistan was carried out by Turkish contractors, Caglayan said the two countries should mutually implement a “win-win” strategy in their foreign trade. Pointing to his proposal for the signing of a preferential trade agreement between Turkey and Turkmenistan, Caglayan said that he would prepare a draft study on the issue and send it to his Turkmen counterparts by the end of September. Caglayan added that a preferential trade agreement would contribute to the trade between the two countries and to reduced customs tariffs on certain products. He also stressed that Turkish banks could help Turkmen entrepreneurs in providing letters of indemnity. "I offered Turkmen officials the opportunity to examine our banking sector as well. The majority of our banks are first-class institutions", Caglayan stated.