FINANCIAL NEWS

Turkey joins hands with three Arab states on free trade pact

11 Jun 2010

(MENAFN) Turkey, Lebanon, Jordan and Syria said in a joint declaration that the four countries agreed to establish a free trade zone, complete with a visa-free travel regime for the countries� nationals, Arab News reported.

The member countries will set up a cooperation council to develop a long-term strategic partnership and create a zone of free movement of goods and persons among our countries, the joint declaration said.

Foreign ministers of the four countries met on the sidelines of a Turkish-Arab Economic Forum in Istanbul. The free trade zone will be based on current bilateral agreements and practices on free trade and visa exemption between the parties, the statement said, adding that Turkey and Lebanon are required to complete a bilateral arrangement before the four-way process could go ahead.

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