Turkey advances trade relations with Canada, Slovakia, and EU

Turkish Trade Minister Ömer Bolat announced significant progress in international trade relations during recent diplomatic engagements. Regarding Canada, Bolat noted a new era in bilateral relations following the Canadian Prime Minister’s first official state visit to Turkey in 83 years. The two nations aim to increase trade volume to $5 billion in the short term and $10 billion in the medium term, with Free Trade Agreement (FTA) negotiations expected to begin late next month. Additionally, a strategic cooperation agreement was signed between Türk Eximbank and Export Development Canada.

In discussions with a Slovakian delegation led by Deputy Prime Minister Denisa Sakova, Bolat highlighted that trade between Turkey and Slovakia has grown 4.3 times over the last six years, reaching $4.3 billion. Slovakia expressed support for Turkey within EU platforms, advocating for Turkey’s inclusion in the “Made in Europe” concept to protect automotive and industrial supply chains.

Addressing relations with the European Union in Brussels, Bolat reported progress on key topics regarding the Customs Union update. He emphasized that Turkey is working to resolve restrictive regulations concerning future investments, particularly in the automotive and electric vehicle sectors, through intensive diplomacy.