India and Turkey signed their first bilateral trade agreement in New Delhi on Wednesday (19 September, 1973).
India and Turkey signed their first bilateral trade agreement in New Delhi on Wednesday (19 September, 1973). The pact commits both parties to expand the trade between their two countries, which though still small, has been growing recently.
The agreement was signed by the Indian Minister of Commerce, Professor D P Chattopadhaya, and the Turkish Minister of Trade, Mr. Ahmet Turkel. The document was the result of talks held earlier in the year between the Turkish Foreign Minister, Mr. Umit Bayulken, and the Indian External Affairs Minister, Mr. Swaran Singh. They met last month when Mr. Bayulken was on a three-day visit to India.
During his visit Mr. Bayulken also announced that the two countries hoped to sign air and cultural agreements in the near future.
Since 1967-68 trade between India and Turkey has increased in value by nearly eight hundred per cent. Last year it showed a considerable surplus in India's favour.
India's exports to Turkey include jute goods, machinery and components. In 1972 her imports from Turkey, consisting mainly of some inorganic chemicals, showed a small decrease.