Brussels:Turkey and the European Union must collaborate on competitiveness and economic security amid global trade challenges, stated Turkish Trade Minister Omer Bolat at a recent summit.
According to Anadolu Agency, Bolat addressed the Türkiye-EU Business Summit in Brussels, alongside EU Commissioner for Trade and Economic Security Maros Sefcovic. The event attracted significant participation from Turkish and EU business leaders. Bolat emphasized the depth of the economic partnership, noting bilateral trade surpassing $233 billion and European capital representing about 70% of foreign direct investment in Turkey.
Sefcovic highlighted the strategic importance of Türkiye-EU trade relations, underscoring the High-Level Trade Dialogue mechanism's role in advancing these ties. Bolat pointed out that the EU's industrial policies should consider the robust production and supply chains formed via the Customs Union. He described Turkey as a vital trading partner and an essential player in global competition, crucial for strengthening Europe's industrial capacity and competitiveness.
Bolat reiterated the intention to enhance cooperation in green and digital fields, leveraging the Customs Union to improve joint competitiveness and bilateral trade. The vision of expanding Turkey's production, export, investment, and technological capabilities under President Erdogan's leadership was also discussed.
At the summit, Bolat urged the EU to include Turkey as a trusted partner in the "Made in EU" initiative, warning against exclusion, which could harm decades of economic integration. He advocated for Turkey's involvement as a trusted partner in the "Made with Europe" project, stressing the mutual benefits for industries, particularly in the automotive and manufacturing sectors. Progress in reducing trade-related issues from 29 to 14 within the Customs Union was noted.
Bolat also addressed visa challenges faced by Turkish citizens despite Turkey's EU candidate status. While recent measures have eased procedures, significant obstacles remain, affecting businesspeople, academics, and students. He praised the European counterparts' constructive approach but insisted that visa barriers are incompatible with strengthening Türkiye-EU ties.