Türkiye, EU to hold high-level trade meeting in Brussels

Türkiye and the European Union will hold their first high-level trade dialogue on July 8, Turkish Trade Minister Omer Bolat and European Commission Vice President Valdis Dombrovskis announced Thursday.

Bolat said Dombrovskis has invited a Turkish delegation to Brussels for this significant meeting.

"By working together and cooperating on various issues, we will develop our economic relations in many ways," he said.

The announcement came after a meeting between Bolat and Dombrovskis at the newly opened Brussels representative office of the Türkiye Exporters Assembly (TIM).

Bolat emphasized the mutual goal of expanding and updating the Customs Union to benefit both parties.

He highlighted the ongoing efforts to address issues within the Customs Union framework, noting the constructive and functioning dialogue between Türkiye and the EU.

Expressing his satisfaction with the initiation of the high-level trade dialogue, Bolat said: "I am very pleased that Dombrovskis proposed to establish a high-level trade dialogue with Türkiye and that we accepted this offer. We will work on many issues on the agenda, and our contacts will continue closely."

Bolat also pointed out that 40% of Türkiye's foreign trade is with the EU, making Türkiye the EU's fifth-largest trading partner.

"By working together and cooperating on various issues, we will develop our economic relations in many ways," he added.

Dombrovskis echoed Bolat's sentiments, expressing his pleasure in announcing the high-level trade dialogue with Türkiye.

"Türkiye is a key partner for the EU, and this includes trade, where the mutual volume has continuously increased over the years," he said.

He acknowledged the important role of the Turkish Exporters Assembly in promoting trade and welcomed the opening of TIM's Brussels office.

Dombrovskis highlighted that trade between the two reached a record high of over €206 billion in 2023, elevating Türkiye to the EU's fifth-largest trading partner.

He noted that mutual trade is balanced and supported by high-value chain integration, with Turkish companies well integrated into European supply chains in sectors such as motor vehicles, machinery and electrical equipment thanks to the Customs Union.