Turkey’s trade with Africa continues to grow, reaching $1.5 billion in exports in January, showcasing strong economic ties and increasing demand for Turkish products. According to the Turkish Exporters’ Assembly, North African markets played a key role, accounting for 67% of total exports to the continent. Egypt led the way, importing $256.3 million worth […]
Turkey achieved remarkable progress in trade by significantly increasing its exports to the United States in 2024, recording a growth of $1.26 billion compared to the previous year and surpassing $13 billion. This achievement underscores the growing trade partnership between the two nations and highlights Turkey’s adaptability in meeting global market demands. The chemical […]
Turkmenistan and Uzbekistan are taking significant steps to enhance their energy trade relationship. The two nations have recently reached an agreement to increase Turkmen natural gas exports to Uzbekistan, further solidifying their energy partnership. This strategic move will not only benefit both countries but also contribute to regional energy security. By expanding gas trade, […]
The global e-commerce landscape reached an impressive milestone of $5.8 trillion in 2023, with forecasts pointing toward an increase to $6.3 trillion by the end of 2024. Turkey, recognizing the immense potential in this sector, is actively working to enhance its share of the global e-commerce trade, according to the Turkish Minister of Trade at […]
Turkey is celebrating a remarkable achievement in its hazelnut industry, solidifying its status as a leading exporter to China. According to reports, the 2023/24 hazelnut production season has yielded impressive results, with exports reaching 303,458 metric tons. This outstanding performance has resulted in an export value of $2.349 billion, reflecting a robust increase of 30.9% […]
In an exciting development for Turkey’s agricultural sector, the country has achieved a significant milestone by exporting fruits valued at over $1 billion to 114 countries in just the first nine months of 2024. This impressive achievement not only showcases the quality and competitiveness of Turkish fruits but also underscores the sector’s pivotal role in […]
Türkiye’s Trade Ministry has announced the start of negotiations for a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC). The first round of talks was held in Ankara, marking a key step in this major trade initiative. In March, the Trade Minister and the GCC Secretary-General signed an agreement to kick off […]
A significant increase in Türkiye’s spice exports, driven by strong international demand. In the first half of 2024, Türkiye’s spice exports soared by 27%, climbing from $89 million to $113 million. The industry is targeting a substantial $250 million in exports by year-end. Known for their ability to enhance flavor and reduce salt usage, […]
In an announcement made on Thursday, both the United Kingdom and Turkey declared their intent to commence negotiations for an enhanced Free Trade Agreement (FTA), encompassing not only goods but also services. While the UK already maintains an FTA with Turkey, inherited post its departure from the European Union in 2020, a joint review […]
Turkey has reached a significant milestone in its export sector, with official data revealing a record-high volume of exports in February, contributing to the country’s positive economic trajectory in recent months. The nation concluded 2023 on a high note, boasting a record of $255.8 billion in outbound shipments. Trade Minister Ömer Bolat announced that […]
A Turkish delegation, led by Tayfun Kilic, Deputy Director General of the Turkish Ministry of Trade, along with key industry representatives, embarked on an inaugural visit to the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce, and Animal By-Products on January 29th. During this visit, the two sides engaged in […]
Turkish President Tayyip Erdogan has voiced concerns over a reported linkage between the export of drone cameras to Turkey and Sweden’s NATO membership bid, involving Canada and the United States. In an interview transcript released on Friday, Erdogan highlighted that both Canada and the United States were stipulating that Ankara ratify Sweden’s NATO membership bid […]
In a significant diplomatic exchange, U.S. Secretary of Commerce, Gina M. Raimondo, held a productive conversation with Turkey’s Minister of Trade, Omer Bolat, with the aim of reinforcing bilateral and commercial ties between the two nations. Secretary Raimondo warmly congratulated Minister Bolat on his recent appointment and conveyed the Department’s unwavering commitment to enhancing […]
Istanbul, Turkey, is currently the epicenter of strategic discussions and economic collaboration as it hosts the 12th meeting of the Ministers in Charge of Economy and Trade of the Organization of Turkic States (OTS). This significant gathering brings together leaders, policymakers, experts, and officials from Turkic nations to deliberate on crucial economic matters. The […]
The International Trade Council applauds the deepening partnership between Türkiye and the United Kingdom, as underscored by British Foreign Secretary James Cleverly during his recent visit to Ankara. The Council acknowledges the pivotal role that this strengthening alliance plays in fostering international cooperation and enhancing global security. In a meeting with Foreign Minister Hakan […]
The International Trade Council acknowledges the recent announcement that Türkiye received foreign direct investments (FDI) totaling $4.8 billion (TL 125.9 billion) in the first half of 2023, as reported by Engin Aksoy, Chairperson of Türkiye’s International Investors Association (YASED). Of this FDI inflow, $2.5 billion was attributed to mergers, acquisitions, or direct capital inflows, as […]