Türkiye and Sweden aim to expand trade volume beyond $5B with JETCO protocol

Türkiye’s Trade Minister Omer Bolat announced plans to increase the trade volume between Türkiye and Sweden to over $5 billion in the near future. The announcement followed his meeting with Johan Forssell, Sweden’s Minister for International Development Cooperation and Foreign Trade, during the second session of the Türkiye-Sweden Economic and Trade Joint Committee (JETCO) meeting in Stockholm.

In a written statement shared on his social media account, Bolat emphasized that the visit provided an opportunity to evaluate and strengthen the cooperation and opportunities between the two nations. “At the meeting, we built a strong foundation for new collaborations, particularly in renewable energy, health tourism, green economy, technology, defense, SMEs, and startups,” Bolat said.

He added that this roadmap was formalized with the signing of the JETCO Protocol, which outlines the future direction of Türkiye-Sweden economic relations. “Together with our private sector institutions, business community, industrialists, and companies, we aim to elevate our bilateral trade volume to over $5 billion in a short period,” Bolat stated.

Bolat also underlined the ongoing efforts to modernize the customs union, in addition to advancing bilateral cooperation with Sweden. Alongside Forssell, Minister Bolat participated in a Roundtable Meeting in Stockholm, attended by representatives from the Turkish and Swedish business communities.

Bolat remarked that Türkiye is closely monitoring and shaping the economic and trade developments in Europe and globally, particularly during a period when global trade is being reshaped around digitalization and green transformation. He highlighted Türkiye’s position as a secure destination for international investments, driven by innovative policies and effective investment incentive instruments.

Expressing satisfaction with Sweden’s recognition of Türkiye as a reliable trade partner amidst emerging global trade and supply chain challenges, Bolat stated, “We believe today’s meetings will lead to the emergence of new areas of cooperation and will further deepen our relations with Sweden in the coming period.”