Turkish Trade Minister Omer Bolat has called for a renewed commitment to shared economic security and competitiveness, emphasizing the necessity of closer ties between Türkiye and the European Union amid current global trade volatility. Following the Türkiye-EU Business Summit in Brussels, Bolat noted that he engaged with business leaders and EU Commissioner for Trade and Economic Security Maros Sefcovic to discuss the future of the bilateral relationship.
Bolat highlighted the significant scale of the economic partnership, noting that bilateral trade between the two entities has surpassed $233 billion. Furthermore, he pointed out that European capital represents approximately 70 percent of the foreign direct investment currently held in Türkiye, underscoring the deep mutual interdependence of the two economies. During the summit, Commissioner Sefcovic reportedly emphasized the strategic importance of these trade relations and the vital role of the High-Level Trade Dialogue mechanism in fostering further cooperation.
Addressing the development of industrial policy, Bolat stressed that any new EU competitiveness frameworks must account for the robust production and supply chains already established through the Customs Union. He described Türkiye as more than just a trading partner, characterizing the nation as a reliable supply chain hub and a strategic production base essential for global competition. According to the minister, Türkiye's contribution to Europe's industrial capacity and supply security is increasingly critical.
Looking ahead, Bolat reaffirmed Türkiye's dedication to enhancing cooperation in digital and green transitions, while seeking to maximize the benefits provided by the Customs Union. He stated that the "Century of Türkiye" vision, led by President Recep Tayyip Erdogan, focuses on expanding the country's manufacturing, export, and technological capabilities. By leveraging its strategic geographic location, industrial infrastructure, and skilled workforce, Türkiye aims to solidify its position as a key player in the global economy and further strengthen ties between the business communities of both sides.
