Turkey's Trade Minister Ömer Bolat Sets Multi‑Billion Dollar Targets with Italy, Germany and UK

Trade Minister Ömer Bolat announced ambitious trade‑volume goals for Turkey with three European partners. At the Turkey‑Italy Business Forum in Istanbul he said bilateral trade stands at about $30 billion and that the medium‑term target is $40 billion, noting that more than 1,600 Italian firms operate in Turkey with cumulative investments close to $3.5 billion. He warned that any “Made‑in‑EU” barrier would harm the closely integrated Turkish‑Italian supply chains.

In a joint meeting with German Economy Minister Katherina Reiche, Bolat reported that visa‑rejection rates for Turkish applicants fell from 25 percent to 14 percent after the “Cascade” visa system was introduced, and that both sides aim to raise trade to $60 billion. He highlighted Turkish contractors’ work on 397 German projects worth over $2.8 billion and stressed cooperation on green‑energy and customs‑union updates.

British Trade Secretary Chris Bryant said the UK intends to double its current £28 billion trade volume with Turkey, citing strong links in defence, construction and digital services and promising a more comprehensive free‑trade agreement by year‑end.