Turkey, Palestine continue work on trade relations

ISTANBUL

Authorities and businesses in Turkey and Palestine continue to conduct serious research on bilateral trade and agreements, the Palestinian ambassador to Ankara said on Tuesday.

Turkey and Palestine have deep historical relations that will remain in the future, Faed Mustafa told a meeting organized by the Foreign Economic Relations Board of Turkey (DEIK).

"The meeting is expected to utilize opportunities and strengthen relations between the two countries," he said at the 17th Turkey-Palestine Business Council meeting.

Mohammad Alamour, the council's Palestinian chair, stressed that Palestine had strong investment opportunities thanks to its fertile soils.

He added: "Returns on investments made in Palestine will be very high."

For his part, Alamour's Turkish counterpart, Cemalettin Kerim, said Turkish exports to Palestine were $657 million in 2018, while imports were $7.76 million -- doubling since 2004, when a free trade agreement was signed between the two countries.

The two countries aim to reach a $2 billion bilateral trade target, he added.

He also said, during the meeting, Turkish and Palestinian business people will discuss trade and investment opportunities.

Palestine's main export items are industrial raw materials, intermediate goods and foods, while the country exports mostly processed stones, olive oil, and agricultural products -- date, fig and avocado, according to the DEIK data.