Serbia-Turkey increases cooperation in textile industry

Serbia-Turkey increases cooperation in textile industry

Turkey views Serbia as its strategic and economic partner on the EU pathway, it was said Tuesday at a business forum dubbed 'Serbia's textile industry - chance for Serbia-Turkey strategic cooperation'.

The economic ties between the two countries were on an increase in the previous years, and the textile industry can be a great chance for the strategic cooperation between Serbia and Turkey, it was underlined in the Serbian Chamber of Commerce (PKS). Minister without Portfolio Sulejman Ugljanin underlined that investments and joint production for the third markets are the backbone of the future cooperation between Serbian and Turkish businessmen.

Ugljanin recalled that Serbia and Turkey signed a number of economic agreements, including the Free Trade Agreement, whose enforcement provided a considerable boost to the exchange of goods and Serbian export. Turkish Ambassador to Serbia Ali Riza Colak said that these agreements are the basis of cooperation, but that the level of bureaucracy should be reduced in order for the companies to do business more easily.

Turkey is the fourth world power in textile production, and this branch makes up 25 percent of the country's total export.

According to the PKS data, Turkey is one of Serbia's vital trade partners, and the two countries' exchange has recorded a continuous growth in the last 10 years, with a deficit on the Serbian side.