SEOUL
Turkey and South Korea have signed an agreement aimed at broadening the scope of their existing Free Trade Agreement.
Turkey's Economy Minister Nihat Zeybekci and his South Korean counterpart Sang-Jick Yoon signed Thursday the new agreement covering investments and the services sector during Zeybekci's official visit to South Korea.
Zeybekci said that increased cooperation between the two countries would "gladden hearts."
"What is needed to be done by sons after our fathers struck this friendship is the creation of trade partnership," he said.
As a NATO member, Turkey aided South Korea during the 1950-53 Korean War.
'Deep friendship'
Noting South Korea had put into effect the Free Trade Agreement signed in 2013 very swiftly, Zeybekci said the new agreement aimed to enlarge cooperation in investments and the services sector and both sides were ready to discuss a full FTA.
"I would like to stress that we are ready to start negotiations with South Korea for a full trade agreement and carry it into effect," Zeybekci said.
Overall trade volume between the two countries stood at $8 billion as of last year.
South Korean Trade, Industry and Energy Minister Sang-Jick Yoon said the two countries had deep friendship rooted in history and he expected the agreement to enable to Turkey to increase its visibility in South Asian markets.
