India, Turkey negotiating free trade accord: President Gul

Asking the private sector to take the lead in expanding economic ties, visiting Turkish President Abdullah Gul Tuesday said India and Turkey will try to complete a Free Trade Agreement (FTA), currently being negotiated.

“I do believe that FTA can be signed soon,” President Gul told assembled captains of industry at a joint business session with the apex chambers of commerce and industry.

He indicated that while the technical negotiations were nearly over, some issues needed to be tied up.

The Turkish president arrived Sunday on a five-day official visit. He held talks with Indian Prime Minister Manmohan Singh during the day and will attend a state banquet hosted in his honour by President Pratibha Patil.

Gul, who came to India with a large business delegation, urged Turkish corporate houses to look towards the Asian giant for opportunities that he said were “limitless”.

Similarly, he also extended a red carpet to Indian business houses to invest in Turkey.

He referred to the similarities that both countries had of being democratic, secular and free market economies.

“Another is that the private sector is the driving force in economic growth...Time has come for private sector to take forward the ties with India,” he said, adding that the companies of both countries should look at prospects of jointly investing in third countries.

Gul said that the "great potential" of economic ties was discussed in talks with Manmohan Singh.

“I can say with pleasure that both leaders are determined to have greater collaboration

Last updated on Feb 9^th, 2010 at 19:33 pm IST--IANS