Gul says Turkey, S.Korea must sign free trade deal this year

Gul said South Korean executives and he had agreed to sign the free trade agreement soon.

Gul says Turkey, S.Korea must sign free trade deal this year

The Turkish president said on Tuesday that Turkey and South Korea had 3.1 billion USD of trade volume.

Turkey's President Abdullah Gul said Turkey's exports to South Korea constituted 93 percent of that trade volume.

"We must sign a free trade agreement this year," Gul told reporters on the sidelines of his formal visit to South Korea.

Gul said South Korean executives and he had agreed to sign the free trade agreement soon.

President Gul said he focused on defense industry during his talks with South Korean executives, and Turkey was purchasing the armors of tanks manufactured in its territories from South Korea.

Gul said Turkey was selling simulators to South Korea, and was willing to sell Turkish Attack and Reconnaissance (ATAK) helicopters to that country.

The ATAK helicopter project was worth 2.5 billion USD, and South Korea was carrying out an investigation regarding the project, Gul said.

Gul also said South Korea was also interested in Apache helicopters.

Abdullah Gul arrived in South Korea early on Monday, becoming the first Turkish president visiting this country in 28 years.

Gul met Hyundai Motor Co. Chairman Chung Mong-Koo on Monday, and he was welcomed by South Korean President Lee Myung-bak formally and met Park Hee-tae, the speaker of South Korea's National Assembly. on Tuesday. Gul also attended Turkey-South Korea Business Forum, and a dinner hosted in his honor by President Lee Myung-bak.

On the sidelines of Gul's visit, Turkey and south Korea signed a memorandum of understanding on cooperation in nuclear energy, agreements on cooperation and assistance in customs, and on cultural exchange program between 2010 and 2012.

Turkey's MTA (General Directorate of Mineral Research & Exploration) and South Korean KIGAM also signed a cooperation agreement.

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Last Mod: 16 Haziran 2010, 12:58
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