Turkish Trade Minister Omer Bolat has urged the European Union (EU) to include Türkiye in its new trade and industrial policies. Bolat stated that including Türkiye in these policies would strengthen EU competitiveness and Europe's economic security.
During a meeting with Spanish Minister of Economy, Trade and Business Carlos Cuerpo in Madrid, Spain, the two ministers discussed recent EU policies, specifically the Net-Zero Industry Act. Bolat emphasized that developing recent EU competition and industrial policies, such as the Net-Zero Industry Act, in an inclusive manner is of strategic importance for the future of the Türkiye-EU partnership.
Bolat also shared expectations regarding the updating and more effective functioning of the Customs Union, which serves as the basis for Türkiye’s economic integration with EU member states.
Economic relations with Spain
Bolat noted that Spain is Türkiye’s fourth largest trading partner within the European Union. The annual trade volume between Türkiye and Spain currently stands at $20.5 billion, and Bolat aims to increase this figure to $25 billion in the medium term.
Total investment from 800 Spanish investors currently in Türkiye.
According to Bolat, there are currently 800 Spanish investors in Türkiye with a total investment of $18.7 billion. He stated that Türkiye remains a center of attraction for international investors due to its production infrastructure, strategic location, qualified human resources, and role in European value chains.
Bolat and Cuerpo agreed to hold the fourth session of the Turkey-Spain Economic and Trade Joint Committee (JETCO) in Madrid in the fall.
