Turkey, Canada eye possible free trade deal

Turkey and Canada are exploring the possibility of signing a free trade agreement, according to Yilmaz Arguden, head of the Turkish-Canadian Business Forum. Speaking during a visit by a Canadian trade mission to Istanbul , Arguden said Canada is preparing to sign free trade pacts first with the European Union and then with Turkey . Canada also officially opened a consulate in Istanbul during the visit, co-organized by Turkey 's Foreign Economic Relations Board (DEIK) and the Independent Industrialists' and Businessmen's Association. (MUSIAD) "It's too early to say whether we should have a free trade deal or not," said Peter van Loan , Canada 's international trade minister. "We would like to consider this after a free trade agreement with the EU." Van Loan added that Turkey has a "key place in the global economy." Calling bilateral trade "disappointing," Foreign Trade Minister Zafer Caglayan also urged stronger trade relations. Caglayan called for Canadian energy companies to invest in Turkey , adding that a Turkish trade center will open in Toronto next year.