Türkiye, Greece eye for higher bilateral trade volume

Cooperation could be strengthened with joint projects in investments, trade, and the tourism and building sectors, says the Greek minister

The bilateral trade volume for Türkiye and Greece hit $5.8 billion in 2023. However, officials said the two countries target $10 billion Friday at the Türkiye-Greece Business Forum in Istanbul, organized by Türkiye’s Foreign Economic Relations Board (DEIK).

“We are neighbors, friends and allies with Greece. We need to use the time well. We need to close the trade deficit.” Turkish Deputy Trade Minister Mustafa Tuzcu said.

Noting President Recep Tayyip Erdogan’s visit to Athens seven years ago to prepare the political ground for encouragement and reinforcement, Tuzcu said: “This visit reflected the will of our leaders. After seven years, 15 agreements were signed in various fields. We are confident we will reach the $10 billion bilateral trade volume target.”

Tuzcu’s Greek counterpart, Kostas Fragogiannis, said cooperation could be strengthened with joint projects in investments, trade, and the tourism and building sectors.

Both countries are working to achieve that goal. Greek Prime Minister Kyriakos Mitsotakis and Erdogan signed the declaration of friendship and good neighborliness in Athens on Dec. 7, he said.

Agreement

As part of the Forum, the Türkiye-Greece Joint Economic Commission (JEC) 6th Term Meeting was also held and the JEC Protocol was signed.

During the JEC meeting, views on energy, agriculture, transportation, industry, agriculture, customs, tourism and social security were exchanged.

It was emphasized that a more secure and sustainable electricity transmission infrastructure will be established between the two countries with a new interconnection line established.

The two countries should take joint steps on the environment, agriculture, forestry, and water in the fight against climate change. In transportation and customs, the second bridge to be built at the Kipi-Ipsala Border Gate will carry forward cooperation in freight and passenger transportation.

In industry, it was agreed to develop cooperation between small and medium enterprises of the two countries.

Within the scope of standardization, it was pointed out that the Turkish Standards Institute is ready to cooperate with its Greek counterparts.

It was also stated that the Turkish side is ready to share information and experience on organized industrial zones, and it was decided to organize the “10th Turkish Greek Tourism Forum” in the future to develop cooperation in tourism.

The Greek side said visa facilitation for Turkish tourists visiting the Greek islands in the Aegean will start on March 1.

Source: AA