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    Turkey proposes free trade zone among Muslim states

    Anatolian Agency
    24.10.2008 - 15:57 | Son Güncelleme:

    Turkish State Minister Kursad Tuzmen proposed on Friday a free trade zone among Muslim countries, which would lift customs taxes.

    "If we can do this, the trade among Muslim countries will grow rapidly. Therefore, we should realize this hastily," Tuzmen said in a press conference held at the sidelines of the 12th International Business Forum.

     

    Tuzmen said such a free trade zone would be an antidote to the global crisis, and make all participating states immune to financial fluctuations caused by this crisis.

     

    The increase in Turkish exports to countries member to the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Conference, was twice that of the increase in its overall exports, he also said.

     

    "Turkey continues to increase trade with its neighbors. This bears healthy results. As a matter of fact, these days, we are closing the gap in our foreign trade caused by the recession in the U.S. and Europe, thanks to the trade with our neighbors and the surrounding countries," Tuzmen added.

     

    He said despite a 10 percent decline in the share of Turkish exports to the EU, in its overall exports, it managed to increase the exports by 35 percent.

     

    Tuzmen pointed out that often there were delays in the enforcement of economic agreements between Muslim countries and said these agreements should take effect as soon as possible.

     

    Photo: AA

     

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