Turkey : FTA with Tunisia & Morocco vital for Textile sector
Currently, Turkey has inked Free Trade Agreements (FTA) with 19 countries and now, the formation of Mediterranean Basin Free Trade Area, is being added which will improve economic and commercial transactions between the Mediterranean countries.
Egytex News Desk
Egytex
Morocco FTA was implemented from January 1, 2005 and Tunisia FTA came into force on June 1, the same year.
Istanbul Textile and Apparel Exporters’ Union (ITAEU) has received reports from the Exporters Union that confirm that the agreements will increase textile export considerably to these two North African countries.
Last year after the agreement came into force, the textile export to Tunisia increased at the rate of 34.8 percent.
While during 2004, the textile export to Tunisia was US $21 million, and in 2005, it rose to $28 million.
Afif Chelbi, Tunisia Industry, Energy and SMEs Ministry, said, "I expect that the volume of business between two countries which is right now $400 million will develop more at the forthcoming period. We will sell you more phosphate and purchase from you more textiles. We will put earn-earn strategy into use so that the two sides will earn more."
Source: Fiber2fashion.com
From the Egytex news archive, first published on 26 April 2006. Figures and names are as reported at the time.
