Türkiye, EU must strengthen cooperation amid global trade turbulence: Trade minister

Türkiye and the European Union must act with a shared understanding of competitiveness and economic security amid global trade turbulence, Turkish Trade Minister Ömer Bolat said Tuesday.

In a post on Turkish social media platform NSosyal following a Türkiye-EU Business Summit in Brussels, Bolat said he addressed business leaders alongside EU Commissioner for Trade and Economic Security Maros Sefcovic at the event, which drew broad participation from Turkish and EU business circles.

Bolat said bilateral trade exceeding $233 billion and European capital accounting for approximately 70% of foreign direct investment in Türkiye showed the depth of their economic partnership and mutual interdependence.

He said Sefcovic stressed the strategic importance of Türkiye-EU economic and trade relations and highlighted the key role of the High-Level Trade Dialogue mechanism in advancing those ties.

Bolat stressed that the EU's new industrial and competitiveness policies should take into account the strong production and supply chains established through the Customs Union.

"Türkiye is not only an important trading partner for Europe; it is also a strong production base, a reliable supply chain partner, and a strategic partner in global competition," he said.

Türkiye's potential to strengthen Europe's industrial capacity, supply security, and competitiveness in global markets is becoming increasingly important, Bolat added.

Deepening economic relations on the basis of existing achievements would therefore serve both sides' long-term interests, he said.

Bolat reaffirmed their determination to strengthen cooperation in the green and digital transitions, make more effective use of the opportunities offered by the Customs Union, and reinforce ties between their business communities to boost joint competitiveness and bilateral trade.

He also said the Century of Türkiye vision, pursued under President Recep Tayyip Erdoğan's leadership, aims to expand the country's production, export, investment, and technological capabilities while strengthening its position in the global economy.

Türkiye will continue working to advance its role in international trade by drawing on its strategic location, industrial infrastructure, skilled workforce, and manufacturing capabilities, he added.