Bermuda signed Tax Information Exchange Agreements with the Republic of Turkey and the Republic of Korea yesterday, bringing the Island’s total bilateral tax agreements to 32 of which 15 are with G20 member countries.The agreements provde a full exchange of information on crmnal and legal tax matters between the two countries.Premier Cox signed the Turkey TIEA with Mehmet Kilci, Presdent of Revenue Administration for Turkey and with Ambassador Sook Kim, permanent representative to the United Nations for the Korea TIEA.“I am pleased with the TIEA’s effect on Turkish corporate law as it relates to Bermudian entities doing business in Turkey,” stated Premier Cox.Brad Kading, president of the Association of Bermuda Insurers and Reinsurers (ABIR) applauded the move.“We are pleased at Bermuda’s accomplishments of signing a TIEA with the Government of Turkey” he said. “Turkey is an important G20 nation with a growing economy and a gateway to other emerging markets.”After signing the agreement with the Republic of Korea, she said: “The value of signing this Tax Agreement is twofold as we see this agreement as enhancing opportunities for future foreign direct investment between our two countries in cementing the relationship between Bermuda and Korea, and this Tax Agreement acts as a proactive pre-emptive measure as Bermuda will be exempt from any future legislative measures.”Cheryl Packwood, CEO of Business Bermuda had this to say: “Korea is one of the world’s fastest growing and most robust economies. Reaching this agreement is yet another example of Bermuda’s ability to work with other countries to establish a mutual understanding of our tax and regulatory approaches and reach agreements that will ensure greater cooperation and enhanced international business opportunities for our two countries working together. We have tremendous respect for Korea and its business community and are hopeful that this agreement establishes a foundation for additional cooperation and economic progress.”