| Turkey: Trade in free trade zones drops 34.3 pct in first 10 months |
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16/11/2009 13:53 (818 Day 00:42 minutes ago) | |||||
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The FINANCIAL -- Trade volume in Turkey’s free trade zones, continuing to decline in October, totaled $14.2 billion in the first 10 months of 2009, a 34.3 percent fall over the same period of last year, according to Today's Zaman.
The trade volume in the Ege Free Trade Zone declined by 35.8 percent over the January-October period of last year, totaling $2.18 billion this year. The free trade zone at İstanbul Atatürk Airport suffered a 23.9 percent drop in trade volume in the first 10 months of this year compared to same period of 2008, falling to $2.32 billion.
The Kocaeli Free Zone and the Scientific and Technology Research Council of Turkey (TÜBİTAK) MAM Technology Zone, on the other hand, saw an increase in their trade volume during this period despite the crisis. The Kocaeli Free Zone enjoyed a 13.7 percent increase in the first nine months of the year over the same period of last year, reaching a trade volume of $681.12 million. Trade volume from commerce in the TÜBİTAK MAM Technology Zone also rose to $129.2 million, accounting for a 65.2 percent increase.
The greatest trade was done in Turkey’s free trade zones with countries in the Organization for Economic Cooperation and Development (OECD) and the European Union in the first 10 months of this year, with a total of $5.1 billion, declining by 36.1 percent over the same period of last year. Trade volume between Turkey and 27 EU countries decreased by 34.2 percent in this period over the January-October period of 2008, falling to $4.25 billion. Trade with OECD countries also suffered a drop of 44.1 percent during the same period, decreasing to $859.45 million.
The employment level in free trade zones overall, which totaled at 45,149, also suffered a 15.4 percent decline in the same period compared to last year.
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