KITA, hosted a seminar and business meetings to celebrate 1stAnniversary of Korea-Turkey FTA
-Intensive business talks on Korean construction materials, LED, food, wallpapers, medical equipment-
'KITA(Korea International Trade Association) is a public-private organization that has developed tradeKorea.com. As a leader in advancing export strategies, trade systems and procedures, KITA supports SMEs to find new customers and secures a wide range of business connections through tradeKorea.com database. If you want to know more about KITA, please click here.
was held in COEX, Samsung-Dong, on 29th to analyze the FTA effect of the past 12 months and to find out promising items for the Turkish market as well as the latest market trend directly from the local specialists.
The Korea International Trade Association (president Duck-soo Han) and Korea Turkey Business Association (KOTUBA; president Hakan Baltali) co-hosted this event. 14 Turkish companies including LEE EMS CO., LTD., the construction material importer, and around 100 Korean companies that had wanted to have business with Turkey participated in the event and explored opportunities for the new market. FTA has enhanced the competitiveness of various products such as Korean construction materials, LED, foods, wallpapers, medical equipment due to the tariff effect and many business talks went on over those products.
In the seminar that took place before the business meetings, Hye-Yeon Lee, the researcher from KITA, made a presentation on the topic of ‘The changed trading conditions in Turkey due to tariff reduction effect’ and Veyis Neo Toprak, the researcher from ISPAT, introduced“the entry strategy to Turky for successful business”. Also, Sinan Ozturk, the CEO of TUTRA BDM co., Ltd., spoke about the different reputation of Korean products after Korea-Turkey FTA as well as successful import stories and his speech satisfied many participants.
KITA’s Senior Executive Managing Director, Moo-Han Kim said “since the FTA was signed in the last May the Korea-Turkey trade has been greatly increased. The total trade was increased by 22 percent and recorded $6.4 billion in 2013. This year also shows the growth as the trade of the first quarter was increased by 30 percent compared to the last year. KITA dispatched sourcing missions to Turkey last year and it will continue to expand its business and exchange by attracting Istanbul business missions this year.
