Turkey-South Korea trade volume up by 279% in past decade

ISTANBUL (A.A) - February 9, 2012 - Trade volume between Turkey and South Korea rose by 279 percent to 5.5 billion U.S. dollars in the past decade. According to data by Foreign Economic Relations Board of Turkey gathered by AA correspondent, Turkey's exports to South Korea had been 78 million U.S. dollars in 2003. The country's exports rose by 469 percent to 445 million U.S. dollars in the past decade. Turkey's imports from South Korea increased by 268 percent to 5 billion U.S. dollars in the mentioned period. Trade volume between the two countries had been 1.4 billion U.S. dollars, now the figure was 5.5 billion USD. Meanwhile, 162 South Korean companies have been operating in Turkey as of March 2010. The two countries have been continuing a negotiation process on signing a free trade agreement.