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Archive for the ‘Turkey’ Category

Türkiye Launches Free Trade Agreement Talks with GCC

International Trade, News, Turkey

August 1, 2024

TÁ ¼rkiye’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 […]

Türkiye’s Spice Exports See Major Growth Amid Rising Global Demand

International Trade, News, Turkey

July 25, 2024

A significant increase in TÁ ¼rkiye’s spice exports, driven by strong international demand. In the first half of 2024, TÁ ¼rkiye’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 […]

Turkey Achieves Record-High February Exports, Marking Positive Economic Momentum

Economic Development, News, Turkey

March 3, 2024

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 Bolat announced that Turkey’s […]

Turkey Expresses Concern Over Link Between Drone-Camera Exports and Sweden’s NATO Membership

International Relations, News, Turkey

December 8, 2023

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 […]

U.S. Secretary Raimondo Holds Positive Discussion with Turkey’s Minister of Trade Omer Bolat

International Relations, News, Turkey, United States

December 8, 2023

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 Hosts 12th Meeting of OTS Ministers of Economy and Trade, Uniting Turkic Nations for Economic Cooperation

International Trade, News, Turkey

September 14, 2023

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 […]

Turkiye and the United Kingdom Cement “Indispensable” Partnership, Paving the Way for Bilateral Prosperity

News, Trade Relations, Turkey, United Kingdom

September 14, 2023

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 […]

Türkiye Records $4.8 Billion in Foreign Direct Investments During H1 2023

Foreign Investments, News, Turkey

August 24, 2023

The International Trade Council acknowledges the recent announcement that TÁ ¼rkiye 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 TÁ ¼rkiye’s International Investors Association (YASED). Of this FDI inflow, $2.5 billion was attributed to mergers, acquisitions, or direct capital […]

ITC Comments On Turkish Central Bank’s Decision To Raise Interest Rates

Economic Development, News, Turkey

June 22, 2023

The International Trade Council (ITC) recognizes the substantial interest rate hike enacted by the Turkish Central Bank as an important move towards more traditional economic strategies to tackle persistent high inflation. The 6.5 percentage points increase to 15% signifies a shift in monetary policy and could be an early indicator of economic recovery. Despite the […]

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