Union of Chambers and Commodity Exchanges of Turkey

Why aren’t we trading?


M. Rifat Hisarciklioglu pointed out that the rate of trade with neighbours in developed countries is 50%, whereas this rate is only 6% in the ECO region. Hisarciklioglu reminded that the world’s busiest production center is located in China’s Urumchi region and said, “products worth billions of dollars is being produced in the East and transported to the west. On average, products from Urumchi has to cover a distance of 5000 km to reach the Shanghai ports. The ports can’t meet this density. Ultimately, the revival of the silk road is inevitable. The largest trade route that connects Far Asia and Europe passes through our countries.”


Common language in customs


Hisarciklioglu also said that countries customs need to be compatible with one another, and stated “Customs in our respective countries need to adopt a common language. Custom operations and system costs need to be standardized to enable measurability and remove informalities.”


ECOBANK should be supported and ECOTA should be applied


M. Rifat Hisarcıklıoglu made the following proposal to the country leaders in his respective presentation:

“ECO should be a free trade zone. High custom walls and non-tariff barriers should be removed. ECOBANK should be supported. ECO Trade Agreement (ECOTA) should be completed and approved. Transit Trade Framework Agreement should be commenced as soon as possible. Human and product passage should be eased in the region. Visa procedures for businessmen should speed up its phase.” ​