New period of dialogue on trade begins with EU: Ministry

ANKARA

A new period of dialogue has begun between Türkiye and the European Union on trade, the Trade Ministry has said, following a virtual meeting with Trade Minister Ömer Bolat and Valdis Dombrovskis, the vice president of the European Commission.

“During the meeting, we agreed on a common roadmap for the development of commercial and economic relations between Türkiye and the EU in the new period,” Bolat wrote on social media.

The EU is Türkiye’s largest trading partner.

The bilateral trade volume reached a record $200 billion last year. The bloc absorbed more than 40 percent of Türkiye’s exports in the first seven months of 2023, with shipments to the EU amounting to $60.54 billion, according to the latest data from the Trade Ministry.

“Within the scope of the Trade Working Group between Türkiye and the EU, we will discuss our current technical issues and cooperation opportunities before the start of negotiations for the modernization of the Customs Union, and then we will be in close contact for a strong dialogue in all areas of our trade,” Bolat said.

Bolat and Dombrovskis also agreed to further meetings in Brussels in September, according to the statement from the Trade Ministry.

“A constructive first discussion with the Trade Minister Bolat on how to re-invigorate our cooperation and EU-Türkiye trade relations,” wrote Dombrovskis on a social media post.

The two also discussed the global challenges of food security and the need to continue the Black Sea Grain Initiative, said the EU official.