Trade with Venezuela increased 8 times in three years. Last Minute WORLD headlines and events
Trade between Turkey and Venezuela, which stood at $850 million last year, is expected to top $1.1 billion this year.
Exports to Turkey, one of Venezuela’s largest export partners, reached $663 million in the first ten months of the year, according to the Turkish Statistical Institute. Turkish Exporters’ Assembly records show that Turkey’s exports to Venezuela reached $335 million by the end of November.
Venezuela was the country that benefited the most from the agreement, which provides mutual customs benefits for thousands of goods in trade between the two countries in August 2020.
Venezuela’s exports to Turkey totaled $19.8 million in 2019, and Venezuela’s total exports are expected to reach $800 million by the end of this year, an increase of almost 40 times.
During the same period, Turkey’s exports increased from $132 million to $350 million.
Trade in scrap metal under the heading of iron and steel accounts for 84 percent of Venezuela’s exports to Turkey.
Mineral fuels, oils and products; This is followed by organic chemicals with $28 million and aluminum and products with $23 million.
It is noteworthy that almost all important exports are under the control of the state, as they are considered strategic materials.
About 70 percent of the products that Venezuela imports from Turkey consist of foods such as cereals, flour, starch, milling products, wheat gluten, cocoa and cocoa products.
“$3 million target could be achieved in a few years”
Experts monitoring trade between the two countries say that Venezuela is one of Turkey’s five most important trading partners in Latin America, and that signed trade agreements and good intergovernmental relations will boost trade.
Experts interviewed by VOA Turkish said the volume of bilateral trade could reach $3 billion in the next few years with continued high-level visits, product diversification in trade and mutual investment.
Experts also noted that this process could go faster if the sanctions imposed on Venezuela were eased or lifted.
The countries with which Turkey traded the most in Latin America in the first ten months of the year were Brazil with $4.88 billion, Colombia with $2.53 billion and Mexico with $1.73 billion.
broadcast by Voice of America Trade with Venezuela increased 8 times in three years in the news houra-ber.com editors have no editorial intervention. The news that trade with Venezuela has increased 8 times in three years is automatically published on our website as it comes from the VOA website. in this area Trade with Venezuela increased 8 times in three years The legal addressee of the news is the websites and agencies that published the news.
- Surprising words and phrases invented by the presidents of the United States
- Note from Azerbaijan to Iran!
- A maximum price could be set for Russian oil!
- Venezuela ranks first in food inflation in Latin America.
- Economic problems hit Pakistan’s car and motorcycle industry – WORLD
- News about new sanctions from the EU to Iran. Last Minute EUROPE, CURRENT headlines and events
- Explosion in Pakistan: 12 dead, 13 injured
- Minister Kirishki in Montreal! – Kent News Agency
- The news of the approval of Navalny in prison “They spoil my health.” Last Minute EUROPE, CURRENT, Russian news and events
- Most European countries will plunge into recession – WORLD
- US President Biden: ‘I look forward to working with Prime Minister Netanyahu’
- Zelensky: “The most important task for all of us is to win this war” – MIR
- Chinese e-commerce giant Meituan prepares digital yuan for the New Year – WORLD
- Switzerland froze Russian assets worth $7.5 billion. News headlines and events Last Minute Russia