ANKARA
Turkey and Niger have signed an economic agreement that is a "historic step for strong economic and trade relations" between the two nations, Turkey's development minister said Thursday.
"Turkey wishes Niger to increase its share of the overall trade volume of $25 billion between Turkey and African economies," Cevdet Yilmaz said at the signing ceremony.
Yilmaz explained that the trade volume between Turkey and Niger is still far below its economic potential. Turkey-Niger trade volume rose to $46 million last year from just $815,000 in 2002.
"We are providing Niger with the opportunity to make duty-free or reduced-customs-duty exports within the scope of generalized system of trade preferences. We are studying the establishment of free trade zones as well," Yilmaz said.
"Also we agreed on launching negotiations as soon as possible for an agreement on reciprocal promotion and protection of investments, as well as for the prevention of double taxation," Yilmaz added.
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