Trade in local currencies to boost Turkey, Ukraine ties

ISTANBUL-Anadolu Agency

The head of Turkey-Ukraine Business Council of the Foreign Economic Relations Board (DEIK) said conducting trade in local currencies will rapidly boost bilateral trade volume and cooperation between the two countries.

Speaking in an exclusive interview, Rasim Pekmezci said Turkey should set new strategies and targets in parallel with free trade agreement (FTA).

He recommended Turkey not to wait for the total recovery of Ukraine, "which has bureaucratic issues for investors", in the long term.

"By implementing the industry zone project, which is vital for Ukraine, a policy of mutual gain and information sharing can be pursued," Pekmezci said.

He underlined that investment diversity will increase after signing of an FTA and establishing joint industry zones.

He added that carrying out joint projects will pave the way for Turkish and Ukrainian joint investments in other countries.