Seychelles and Turkey begin free trade talks
24.11.2009
Seychelles has started free trade agreement talks with Turkey, at the request of the Turkish government, which could lead to many new opportunities for the private sector here.
Because it has had a customs union with the European Union since 1996, Turkey is required to harmonise its trade policy with that of the EU.
And since Seychelles signed an interim Economic Partnership Agreement with the EU in August, the government believes it is only appropriate that we extend similar trade regimes to European countries that are not members of the EU.
A free trade agreement with Turkey would mean that most goods traded between the two countries would be exempt from customs duties.
Turkey is now the second largest exporter of cement in the world, the fourth largest producer of ceramic sanitary ware and the fifth largest producer of ceramic tiles.
The country is also a world leader in production of textiles, leather, glass, jewellery, iron and steel, electronics and electrical equipment, and chemicals. It is also rich in marble.
Seychelles and Turkey began talks to establish the trade agreement on November 16. While negotiations are still at an early stage, the general framework of the agreement has already been agreed on.
Talks will resume early in 2010, with a conclusion expected in the first half of the year.