Posted by meb at June 30th, 2008

Trade volume in Turkey’s free trade zones increased 14 percent to $11.1 billion in the first five months of 2008 when compared to the same period last year.

According to figures from the Foreign Trade Undersecretariat, the İstanbul Leather Free Zone exported $2.5 billion of products, while the Aegean Free Zone exported $1.7 billion and İstanbul-Atatürk Airport (AHL) $1.3 billion in the first five months of 2007.

Most trade through free zones in the first five months of the year was made to Organization for Economic Cooperation and Development (OECD) and EU countries: $4.1 billion. EU countries were the biggest customers of the free zones, purchasing $3.4 billion-worth of goods from these special districts. The OECD countries that are not EU member states expended $790 million in their trade with Turkey’s free zones. Free zones fall within the borders of a country but are exempt from regulations on customs, taxes, foreign currency, price, quality and standards.
source: Today’s Zaman