Turkey and Italy Target $40 Billion in Foreign Trade Volume

Trade Minister Ömer Bolat announced, within the scope of his official contacts in Italy's capital Rome, that they aim to increase the foreign trade volume between the two countries to $40 billion in the medium term.

Contacts in Rome and High-Level Meetings

Trade Minister Ömer Bolat met with Deputy Prime Minister and Minister of Foreign Affairs Antonio Tajani as part of his contacts in Italy's capital Rome. Bolat stated that during his visit to Rome, they encouraged Italian investors to make more investments in Turkey.

Trade Volume and Investment Figures

Stating that the trade volume between the two countries exceeded $30 billion and approached $32.5 billion in 2024, Minister Bolat emphasized that they are focusing on the medium-term target of $40 billion. It was reported that the total investment of 1,645 Italian companies operating in Turkey has exceeded $4 billion, while Turkish companies' investments in Italy have reached approximately $1 billion.

Sectoral Cooperation and Joint Approaches

It was noted that current investments between Turkey and Italy are concentrated particularly in the home appliances, ceramics, defense industry, and automotive sectors. The talks also addressed the European Union's clean tech act and the "Made in EU" approach.

EU Expectations in the Automotive Sector

Minister Bolat stated that within the scope of "Made in EU", they emphasized that Turkey, like the 27 EU member countries, should be included in the automotive sector from within, and requested the support of the Italian side on this issue.