Ankara: Trkiye and Canada have officially initiated negotiations on a free trade agreement aimed at enhancing their economic collaboration, as announced in a joint statement released on Tuesday. The move follows a meeting between Turkish President Recep Tayyip Erdogan and Canadian Prime Minister Mark Carney, which took place on the sidelines of the NATO summit in Ankara on July 7. The leaders have directed officials to commence talks on a comprehensive, modern, and mutually beneficial trade agreement.

According to Anadolu Agency, the initial steps toward this agreement began in early June when Turkish Trade Minister Omer Bolat and Canadian International Trade Minister Maninder Sidhu released a joint ministerial statement. This statement marked the beginning of exploratory discussions aimed at establishing a comprehensive free trade agreement. The current transition to formal negotiations signifies a progression in the bilateral economic relationship.

The anticipated agreement is projected to foster economic growth, facilitate job creation, enhance competitiveness, and bolster global supply chains. It also aims to broaden the scope of economic cooperation between Trkiye and Canada. Technical teams from both nations are set to collaborate in the upcoming months to outline the scope and objectives of the agreement, preparing for the inaugural round of negotiations.

The joint statement expressed optimism from both governments about working together to develop a high-quality agreement. This agreement is expected to strengthen the Canada-Trkiye partnership and create new opportunities for prosperity for businesses, workers, and citizens in both countries.