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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo

Türkiye has raised the euro-lira conversion rate for medicine prices by 30.5% to 14.0387 lira per euro, the country's Official Gazette showed on Sunday.
The updated conversion rate is nearly half the market rate, with the lira standing at 29.9727 against the euro at Friday's close, Reuters said.
The increase in medicine prices could further stoke inflation, which is already expected to rise more this year due to the lira's depreciation and recent tax hikes introduced by Ankara. Economists are revising their end-2023 inflation forecasts to around 60% from 38.21% in June.

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South Korea, China Industry Ministers Agree to Cooperate in Evolving Global Environment, Seoul Says

Chinese Commerce Minister Wang Wentao attends a meeting with global business leaders at the Great Hall of the People in Beijing, China, March 28, 2025. (Reuters)
Chinese Commerce Minister Wang Wentao attends a meeting with global business leaders at the Great Hall of the People in Beijing, China, March 28, 2025. (Reuters)
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South Korea, China Industry Ministers Agree to Cooperate in Evolving Global Environment, Seoul Says

Chinese Commerce Minister Wang Wentao attends a meeting with global business leaders at the Great Hall of the People in Beijing, China, March 28, 2025. (Reuters)
Chinese Commerce Minister Wang Wentao attends a meeting with global business leaders at the Great Hall of the People in Beijing, China, March 28, 2025. (Reuters)

The industry ministers of South Korea and China met on Saturday to discuss the evolving global trade environment and agreed to cooperate bilaterally as well as on multinational trade forums, the South's industry ministry said.

China's Commerce Minister Wang Wentao is visiting Seoul for a three-way ministerial meeting on Sunday with South Korea's Ahn Duk-geun and Japanese Trade Minister Yoji Muto.

"They held discussions on bilateral cooperation measures and trade issues in response to changes in the global trade environment," the South Korean ministry said in a statement.

The first meeting of the two countries' industry ministers is the first since November 2023 and comes as US President Donald Trump's promised tariffs are expected to impact imports from the two Asian export powers.

Trump has already imposed 20% tariffs on all Chinese imports, saying Beijing has failed to stem the flow of precursors for the addictive opioid fentanyl.

South Korea is bracing for duties that could hit its major exports to the United States, including semiconductors and electric vehicle batteries. Ahn has said a 25% tariff on autos unveiled this week by Trump was expected to create "considerable difficulties" for South Korean automakers.