Trading

Stronger cooperation amid global uncertainties to benefit all Mediterranean countries, trade minister says | Daily Sabah – Daily Sabah

At a time when uncertainties such as trade wars, international protectionism measures, Brexit and the coronavirus pandemic negatively affect the global economy, strengthening economic and commercial cooperation in the Mediterranean basin will be in the common interest of all countries in the region, Turkey’s trade minister said Thursday.

“It is of great importance for countries in the Mediterranean basin to diversify their opportunities for commercial cooperation with comprehensive models of economic integration and networks of preferential trade agreements,” Ruhsar Pekcan told the “Logistics and Trade in the Mediterranean: Assessing Post-Pandemic Conditions” forum organized on the sidelines of the Izmir International Fair.

The Mediterranean basin contains about 11% of the world’s population, accounts for 23% of the global economy and 35% of global trade with a total output of $20.4 trillion, Pekcan said.

The Mediterranean region is home to 87 ports of different sizes, she added, stressing that none of these ports are ranked among the 20 most busy in the world.

“If we examine only the busiest ports in Europe, half of the top 20 ports with the most container handling are Mediterranean ports. Ambarlı, Mersin and Izmit ports in Turkey are listed among the ports handling the most containers in Europe,” Pekcan noted.

The strategic locations of Mediterranean ports contribute significantly to European and global trade as well as to global supply chains with their cargo quantities and logistics capacities.

“There is also a great potential for further development of this capacity,” Pekcan noted. “There is no reason why
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