New era in trade and economic cooperation between Turkey and Canada

As a result of the talks held with President Recep Tayyip Erdoğan within the framework of Canadian Prime Minister Mark Carney's visit to Turkey, a comprehensive agreement aiming to strengthen economic and commercial relations between the two countries was reached.

In accordance with the agreement reached with the Prime Minister's Office of Canada, a 3-year action plan covering the headings of trade, investment, defense, security, and energy was established. Within this scope, it was decided that the first round of negotiations regarding a free trade agreement between the two countries will be held in Ankara from November 30 to December 4.

While a cooperation agreement was signed between Export Development Canada and Türk Eximbank, partnerships are targeted in the fields of defense industry, liquefied natural gas (LNG), nuclear energy, and critical minerals. Additionally, the number of flights was increased, and unlimited opportunities were granted for cargo flights.

Mehmet Yılmaz, President of the DEİK Turkey-Canada Business Council, stated that the current trade volume level of 3 billion dollars is targeted to be increased to 5 billion dollars in the medium term and to 10 billion dollars in the long term.