Istanbul: Trkiye is rapidly closing the gap with the world's most advanced countries in the defense industry, Treasury and Finance Minister Mehmet Simsek said Friday. 'Trkiye produces high value-added products and serves a fast-growing market. The outlook is strong, and the opportunities are significant,' Simsek told Anadolu during the International Defense Industry Fair (IDEF) 2025 in Istanbul.

According to Anadolu Agency, the six-day event, now in its 17th edition, kicked off Tuesday across multiple venues in Istanbul, including the Istanbul Fair Center, Atatrk Airport, Wow Hotel, and Atakoy Marina. Organized by KFA Fairs with support from the Defense Industry Agency (SSB) and the Turkish Armed Forces Foundation, the fair has Anadolu as its global communication partner.

Simsek emphasized innovation and efficiency as key drivers of Trkiye's industrial progress. 'Innovation and efficiency are often born out of necessity. Competition matters. Today we saw it firsthand in the products on display. This is a major success and a point of pride for our industry - it's no coincidence,' he said.

He added that Trkiye had established and is further developing its own self-sustaining ecosystem, with innovation playing a central role. 'Competition brings efficiency. Defense industry expenditures are growing very rapidly worldwide. About 25 years ago, defense industry expenditures were $1.2 trillion, and now they are almost at the $3 trillion mark, but there is a very high probability that they will double again several times over the next 20-30 years,' Simsek said.