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Jump in trade between Ukraine and Turkey expected this year
22 July 2010
At a meeting with Turkish Ambassador to Ukraine Ahmet Bulent Meric, Tigipko said that last year, trade between the two countries plunged by 53%, although in January-May considerable growth was seen, Tigipko's press service reported.

"Turkey is an important trade partner for Ukraine, being second in terms of exports. The rapid development of Ukrainian-Turkish cooperation is evidence of the great potential for the bilateral partnership between our countries," he said.

Tigipko, who is the co-chairman of the intergovernmental Ukrainian-Turkish commission for trade and economic cooperation, said he supported the idea of organizing a Ukrainian-Turkish business forum and said he would personally promote its organization.

The vice premier said he was convinced that a great deal of progress in the talks between the two countries on a visa free regime and the creation of a free trade zone would be achieved by late 2010.


Turkey has adopted a favourable stance towards Ukraine since the aftermath of Soviet Union’s collapse, being one of the first countries recognizing the new independent state. Increasing economic ties, due to Ukraine’s strategic position, have been constantly matched by cordial diplomatic relations. It is in fact Ukraine’s geo-political position, and in particular the shared area constituted by the Black Sea region, to foster Turkey’s willingness towards more friendly and fruitful relations. Under Turkey’s initiative in fact economic relations - which are already quite successful considering that since 2004 bilateral volume trade increased by 74% and reached the sum of 6 billion$ in 2007 according to Foreign Affairs Ministry’s data - will be further strenghtened. According to Habibe Ozdal, USAK Eurasian expert, the very essence of the recently signed Action Plan is in fact to exploit all the economic, but also political, potentialities behind the current Turkey-Ukraine relations. In economic terms Turkey and Ukraine are important partners: Turkey mainly imports from Ukraine intermediate goods, while Turkish construction companies have so far totalled a 1.7 billion$ turnover. And, as in the case of Russia, also for Ukranian tourists, Turkey has become the second most important holiday destination.

Source: Interfax-Ukraine

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