ISTANBUL

Turkish and Greek business leaders signed Wednesday a memorandum of understanding to improve bilateral economic relations.

The trade pact was signed between Turkey’s Foreign Economic Relations Board (DEIK) and SEVE Greek Exporters Association as part of a roundtable meeting between the countries’ business world, the DEIK announced.

Levent Sadik, the head of the DEIK's Turkey-Greece Business Council, said the agreement was an important step for doubling the bilateral trade volume of two countries.

Turkey's exports to Greece were $2.1 billion last year while imports amounted to $1.4 billion.

SEVE head Georgios Konstantopoulos stressed the two institutions' activities in commercial diplomacy area will contribute to the two countries' trade and business relations.

He also said that there are significant investment opportunities in the northern Greece for Greek and Turkish companies.