TURKEY, TOWARDS ENLARGED AGREEMENT WITH EFTA
Turkey aims to sign an expanded agreement with the European Free Trade Association (EFTA) in January 2018, Economy Minister Nihat Zeybekçi has said, after participating in the EFTA ministerial meeting in Geneva on Nov. 24. Turkey has had a free trade agreement with EFTA since 1991 and is now in the process of expanding the agreement.
The EFTA consists of four European states: Iceland, Liechtenstein, Norway, and Switzerland. The joint statement underlined “the already close economic ties between the EFTA States and Turkey, and the significant potential to advance economic cooperation and exchange by further enhancing the framework conditions for trade and investment between them.” The World Economic Forum (WEF) in Davos, Switzerland will take place between Jan. 23-26, 2018. Despite not being a member of EU, Turkey has had a Customs Union agreement with the bloc since 1995. Source: Hurriyet Daily News.