Minister Pekcan: We will continue to support business people to increase the trade volume with Spain to 20 billion dollars

Minister of Commerce Ruhsar Pekcan, in her speech at the closing session of the Turkey-Spain Virtual Business Forum organized by the Foreign Economic Relations Board (DEIK) within the scope of the Turkey-Spain Joint Economic and Trade Committee (JETCO) Meeting, reminded that they held the first meeting of the JETCO mechanism today in the morning.

Stating that we are going through difficult times due to the pandemic, Pekcan stated that economic life, production processes and trade as well as health were affected during the pandemic process.

Minister Pekcan stated that with the return to normal, there is now a period of acceleration and recovery, and that in this process, the JETCO meeting will be instrumental in deepening and developing the economic and commercial relations between the two countries.

Expressing her gratitude to the Spanish Minister of Industry, Trade and Tourism, Maria Reyes Maroto Illera, Pekcan stated that they met 3 times in the last 3 months and shared mutually productive and positive support.

Pekcan stated that the Spanish Minister of Foreign Affairs, European Union and Cooperation, Arancha Gonzales Laya, will visit Turkey on Monday, July 27, and emphasized that the high-level bilateral cooperation shows the importance the two countries attach to each other and their determination to support their economic and commercial life.

Reminding that the First Term JETCO Meeting Memorandum of Understanding was signed today, Minister Pekcan continued his words as follows:

“We had discussions on many technical issues. In addition to commercial issues, we talked about cooperation issues such as investment and contracting services, cooperation in third countries, promotion of mutual investments, cooperation in the field of industry and technology, economic issues based on culture and tourism, agriculture and education. We included very concrete and constructive items in the Memorandum of Understanding aimed at improving the relations between the two countries. The trade volume of the two countries is 12.6 billion dollars, but we do not see this as sufficient. We will continue to support business people to increase our trade volume to 20 billion dollars in a balanced manner. “There are important collaborations between Turkish and Spanish companies in many different fields, from automotive to iron and steel products, from electronics to furniture, from textiles to food products, and there is even more potential.”

Studies on updating the Customs Union

Pekcan stated that the Customs Union between Turkey and the European Union deepens the integration of Turkey and the EU and said, “However, the Customs Union, which came into force in 1996, does not meet the demands of the business world of the two countries. In particular, digital economy, e-commerce, services, agriculture and public procurement are not included in the Customs Union agreement we signed in 1996. We foresee that the work on the update of the Customs Union, which will include these, will be started and even completed in 2020. I would also like to thank the Minister for their support on this issue.” he said.

Emphasizing that Turkey has received 220 billion dollars of direct foreign investment in the last 18-year period, since 2003, Minister Pekcan said that despite the protectionist measures in the global economy, Turkey received 8.5 billion dollars of direct foreign investment in 2019.

Joint investment invitation to Spanish companies in Specialized Free Zones

Explaining that there are approximately 10 billion dollars of Spanish investment in Turkey, Pekcan said, “We are making serious efforts for the Ease of Doing Business Index. We ranked 33rd in the World Bank Ease of Doing Business Index, rising 27 places in the last two years. Our goal is to take this even higher.” said.

Stating that Specialized Free Zone projects have been developed to encourage Turkey’s technology-oriented, value-added product production and export, Pekcan said, “Turkish and Spanish companies can make joint investments here, too. We invite Spanish companies to produce high-tech and high value-added products and to joint investments based on R&D and design. “We have serious incentives regarding these.” he said.

Pekcan explained that Turkish contractors are competitive and have a good position globally, and said that they will continue to support Eximbank and export support mechanisms for the development of joint projects in third countries with joint agreements.

Stating that they, as the ministers of the two countries, attach great importance to the issue of women’s entrepreneurship, which constitutes an important topic at the JETCO meeting and Business Forum, Pekcan said that they held a round table meeting for women entrepreneurs to take a more and active part in international trade and the world economy, and that they will continue these meetings. .

Pekcan stated that the JETCO mechanism provides the opportunity to review the economic and commercial relations between the countries and noted that both countries will follow the Memorandum of Understanding signed today.

Source: https://www.aa.com.tr/tr/ekonomi/bakan-pekcan-ispanya-ile-ticaret-hacmini-20-milyar-dolara-cikarmak-icin-is-insanlarini-destekleme-devam-edecegiz/ 1920022

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