EU should approach Türkiye constructively, says Trade Minister Bolat

Trade Minister Omer Bolat reiterated Türkiye’s unwavering commitment to its relationship with the EU on Thursday, emphasizing the importance of constructive and sincere approaches from both sides.

Speaking at a program held at the Permanent Representation of Türkiye to the EU during the opening of the Brussels Representation Office of the Türkiye Exporters Assembly (TIM), Minister Bolat underscored Türkiye’s long-standing interest in its ties with the EU.

He highlighted the historical, economic, commercial, investment and social connections that exist between Europe and Türkiye.

Minister Bolat pointed out that the Customs Union agreement between the EU and Türkiye, in effect since January 1, 1996, has significantly boosted commercial relations, with trade volumes rising from $30 billion annually to $210 billion over 28 years.

Minister Bolat noted the mutual dependence between the EU and Türkiye as significant trading partners, saying: “Both sides need each other, and both sides are well integrated economically.”

He also underlined that Türkiye has received $110 billion in foreign direct investment from the EU, while Turkish investments in EU member states have reached $30 billion.

Bolat also highlighted the substantial contribution of European companies to Türkiye’s growth, employment, and exports, with approximately 30% of last year’s exports originating from Turkish-based European companies.

Minister Bolat outlined Türkiye’s efforts to enhance economic integration with the EU, including discussions and negotiations with the European Commission to update the Customs Union.

He emphasized ongoing dialogue and collaboration at all levels to address challenges and foster closer economic ties.

“We are very well integrated with the EU in trade, investment and tourism. At the institutional level, we are also trying to make progress by starting negotiations with the EU Commission to update the Customs Union,” he stated.

Additionally, Minister Bolat announced plans for a high-level trade dialogue to resolve outstanding issues between Türkiye and the EU.

He reiterated Türkiye’s commitment to advancing relations with the EU and its member states, underscoring the importance of constructive engagement from all parties.

In conclusion, Minister Bolat reiterated Türkiye’s expectation of a constructive and sincere approach from the EU and its member states, reaffirming Türkiye’s dedication to strengthening its partnership with Europe.