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ECONOMICS > Athens, Ankara seek further warming of ties to boost trade

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Turkish-Greek mutual trade, which reached $6.6 billion in ten years, promises even a larger potential, the prime ministers of the two neighbors believe

Turkish Prime Minister Recep Tayyip Erdoğan shakes hands with Greek Prime Minister Antonis Samaras in Istanbul before two hold a joint press meeting. DAILY NEWS photo, Emrah GÜREL

Turkish Prime Minister Recep Tayyip Erdoğan shakes hands with Greek Prime Minister Antonis Samaras in Istanbul before two hold a joint press meeting. DAILY NEWS photo, Emrah GÜREL

Turkey and Greece are set to foster their economic ties further, with both sides pleased at the state of their existing relationship, the prime ministers of the two neighboring countries said yesterday.

“We have increased the trade volume between the two countries by more than 100 percent in the last decade,” Turkish Prime Minister Recep Tayyip Erdoğan said yesterday in Istanbul at the Turkey-Greece Business Forum, also attended by his Greek counterpart Antonis Samaras.

Samaras was on a one-day official visit to Turkey during which he met Erdoğan and President Abdullah Gül, before attending the forum.

The trade volume between Turkey and Greece reached $5 billion last year despite the economic crisis, Erdoğan said, adding that even that level is not enough.

“We agreed to raise the bilateral trade to $10 billion as soon as possible, and the groups to realize this - Greek businessmen and Turkish businessmen - are here today,” Erdağan said.

Greek Prime Minister Samaras was also happy with the visit. “Today is a good day for Greek-Turkish relations,” he said, adding that the two countries’ relationship was not “fully aligned” and that “careful steps” had to be taken to build trust.

“The fact we got together today is proof that Turks and Greeks can sit around the table and talk,” Samaras said.

Rifat Hisarcıklıoğlu, the head of the Union of Chamber and Commodity Exchanges of Turkey (TOBB), said the bilateral agreements would serve to overcome difficulties of tradesmen, as non-institutional areas of trade created problems for business.

$10 billion trade target

“Greek investments in Turkey reached $6.6 billion in 10 years, putting Greece the fifth-most-invested country in Turkey,” Gül said at his meeting with Samaras earlier in the day, at his residence in the Tarabya district of Istanbul.

He said the number of Turkish companies investing in Greece had also increased significantly, especially in banking and maritime affairs, adding that new cooperation opportunities on energy and tourism could be considered.

Resolution of historical political issues – most significantly the Cyprus issue - would lead to the development of even stronger economic bonds, Erdoğan also added, putting particular stress on the benefits and actual easiness of a solution, which would further develop a peaceful environment for investments and trade.

He said the price of wars and disputes was high for countries, both economically and emotionally, and his government along with Samaras’ would be able to “overcome the Cyprus issue and resign the ongoing problems to history.”

“I believe we [the Turkish government] can resolve this [Cyprus] issue with the Samaras government, which also has a strong will, by taking steps forward. I hope we will secure important results for regional peace, security and stability.”

Also touching upon the continental shelf issue, Erdoğan said the two countries had been in talks for a while and he saw no reason not to reach a consensus over controversial issues, as long as the intentions of the parties were good.

The question of oil and gas exploration in the Aegean was one of the key issues on the agenda, and both leaders made only brief references to it. Both Athens and Ankara recently sent diplomatic notes to the United Nations to complain about the other side’s stance on the issue.

Samaras said the continental shelf rights Greece had as a result of the Law of the Sea were “clear.”

Erdoğan said the two sides would be in a win-win situation if they could come to an agreement on the issue.

Erdoğan, who referred to his Greek counterpart Samaras as “my friend,” said Turkey and Greece had signed 25 bilateral agreements in Istanbul.

The new deals, which differ across a wide area of cooperation from health to culture and tourism, illegal immigration and energy, has put the number of agreements between two countries to 47 in total.

March/05/2013

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Vangelis Denaxas

3/5/2013 11:43:02 PM

Kerem Atan who told you that we mention on oil ? These resources have to do mainly with big fields of natural gas around Crete and at the west.

kerem atan

3/5/2013 5:03:54 PM

i still dont figure out what resources greek commentators are on about.i looked up the list of countries by natural gas production and oil reserves. greece is ranked in 91st and 89 th place . someone who reads these comments might think greece is an oil rich country. they are just exploring for oil at the moment. think they should stop dreaming about being rich before finding oil. turkey is also estimated to have oil reserves.

Vangelis Denaxas

3/5/2013 1:57:18 PM

Can Oz thank you for your offer but we already have a lot of own undersea and underground resources to exploit

Pawel Bury

3/5/2013 1:37:14 PM

Poor little bankrupt Greece is No 5 investor in Turkey and of course exports more products to Turkey than she imports. EEZ issue will be settled and after that Turkey will be able to buy more gas and oil from Greece.

Georgios Milopoulos

3/5/2013 1:26:59 PM

Can Oz, thanks for your allowance in order Greece keep its own Islands but..to depend on your resources???? Greece has the Islands and has also the resources. Where is Turkey's share in the subject? May be the economical crisis in Greece created to you and to your politicians some -extra ordinary dreams- But stop dreaming. Turkey play hard, a came which requiring "calm strategy" and Turkey, since 1974, is always and continue to be in the -looser side.

Brian Irlanda

3/5/2013 11:10:41 AM

Good news. We should work together with the neighbours we share borders and seas with. Co-operation can only be good for both countries and both Turkey and Greece as both need to develop for the global economy.

Can Oz

3/5/2013 8:37:30 AM

Turks and Greeks have a lot to gain from each other. It worked during Ottoman times, so it can work now. Don't worry Hellas, keep your islands, just depend on our resources.
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