FROM THE PRESIDENT

DEİK ORGANIZED TÜRKİYE–BELGIUM BUSINESS FORUM WITH THE PARTICIPATION OF HER MAJESTY THE QUEEN OF THE BELGIANS

Foreign Economic Relations Board of Türkiye (DEİK) organized Türkiye–Belgium Business Forum in İstanbul on May 11, 2026, on the occasion of the Belgian Economic Mission led by Her Majesty the Queen of the Belgians. The Forum was attended by H.E. Prof. Dr. Ömer Bolat, Minister of Trade of the Republic of Türkiye; H.E. Maxime Prévot, Deputy Prime Minister and Minister of Foreign Affairs, European Affairs, and Development Cooperation of Belgium; Nail Olpak, President of DEİK; A. Burak Dağlıoğlu, President of the Investment and Finance Office of the Presidency of the Republic of Türkiye; René Branders, President of the Federation of Enterprises in Belgium (FEB); Matthias Diependaele, Minister-President of the Flemish Government; Mustafa Akıncılar, Chairperson of DEİK/Türkiye–Belgium Business Council; and business representatives from both countries.

During the Forum, H.E. Prof. Dr. Ömer Bolat, H.E. Maxime Prévot, and Belgian Minister of Defence H.E. Theo Francken signed the "Joint Declaration on the Development of Bilateral Trade Relations" between Türkiye and Belgium.

Bolat: "The two countries aim to reach a bilateral trade volume of 15 billion dollars"

Minister of Trade of the Republic of Türkiye, Prof. Dr. Ömer Bolat, stated that the bilateral trade volume between Türkiye and Belgium reached USD 9.3 billion as of 2025, adding, "The two countries aim to sustainably and steadily reach a bilateral trade volume of USD 15 billion." He emphasized that Belgium's investments in Türkiye have reached approximately USD 5 billion, while Türkiye's investments in Belgium are nearing USD 750 million.

Bolat also highlighted new strategic cooperation areas, noting that the primary focus is the defense industry. "Our defense and aerospace exports increased from USD 248 million in 2002 to over USD 10 billion in 2025. We observe Belgium's growing interest in engaging more deeply with our defense ecosystem," he said. He further noted that Türkiye is a major logistics hub with a USD 150 billion logistics market and more than USD 50 billion in logistics service exports, supported by advanced digital customs systems.

Referring to the global success of Turkish contractors, Bolat stated that they have undertaken projects worth USD 560 billion across 138 countries, including USD 335 million worth of construction projects in Belgium. He also underlined the significant potential to expand economic cooperation not only bilaterally but also in third markets and through governmental cooperation. Bolat emphasized the importance of modernizing the Customs Union between Türkiye and the EU and expressed his belief that Belgium supports this approach within the EU.

Prévot: "Belgium is the 8th largest investor in Türkiye"

Belgian Deputy Prime Minister Maxime Prévot stated that Belgium and Türkiye possess complementary strengths across several sectors and emphasized the immense potential for deeper cooperation in energy, aviation, space, and defense.

Prévot recalled that Belgium organized a similar Economic Mission 14 years ago and highlighted that the leadership of H.M. the Queen of the Belgians underscored the importance of bilateral relations. He stated, "Türkiye–Belgium relations are based on nearly two centuries of political, economic, and diplomatic cooperation." He further underlined Türkiye's innovative and competitive ecosystem, pointing to opportunities in ports, logistics, life sciences, biotechnology, and digital transformation.

Prévot also noted that Belgium and Türkiye are jointly involved in nearly 300 Horizon Europe projects, making Belgium Türkiye's fifth most important research partner in Europe.

Olpak: "The Turkish business community strongly supports Türkiye's European journey"

DEİK President Nail Olpak stated that Türkiye and Belgium are two complementary economies and invited Belgian companies to view Türkiye as a production base and a platform for joint ventures.

Olpak emphasized the importance of the green transformation, noting that Belgium's sustainability expertise and Türkiye's rapidly growing renewable energy sector could create strong synergies. He identified technology, innovation, and defense as other strategic cooperation areas.

Highlighting the changing global trade environment, Olpak stated, "Today, the only certainty is uncertainty, and this is something the business world does not appreciate." He emphasized the need for a completely new approach to the Türkiye–EU partnership process, which has continued for over 60 years. Referring to the open letter DEİK published in the Financial Times earlier this year, Olpak stated: "Our message is very clear. The Turkish business community strongly supports Türkiye's European journey."

Olpak also invited all participants to the next EU–Türkiye Business Summit, which will be organized in cooperation with the European Business Summit at Egmont Palace on October 13, 2026.

Dağlıoğlu: "Türkiye has become a regional hub"

A. Burak Dağlıoğlu, President of the Investment and Finance Office of the Presidency of the Republic of Türkiye, stated that more than 700 Belgian companies operate in Türkiye and that their total investments since 2003 have exceeded USD 8 billion. He emphasized Türkiye's business-friendly investment environment and noted that the country has become a regional hub.

Dağlıoğlu also mentioned that a new package, including financial and non-financial incentives, had recently been announced to support Türkiye's goal of becoming a global economic power.

Branders: "Turkish companies prefer Belgium as a main investment platform"

René Branders, President of the Federation of Belgian Enterprises (FEB), stated: "Today, we are in Türkiye with at least 400 Belgian participants representing 200 companies." He noted that many of these companies operate in high-tech sectors, including chemicals, life sciences, automotive, and aerospace.

Branders emphasized that Türkiye is a vital economic partner and noted that Turkish companies increasingly prefer Belgium as their main investment platform at the heart of Europe.

Diependaele: "Türkiye is a strategic partner for the future"

Matthias Diependaele, Minister-President of the Flemish Government, stated that Türkiye is one of Belgium's most important economic partners outside the EU and that Belgium has established a strong position within Türkiye's trade and investment environment.

He emphasized active cooperation in logistics, advanced manufacturing, and the energy transition. Stressing the importance of innovation partnerships, Diependaele said: "Türkiye is not only an important market for us but also a strategic partner for the future."

DEİK HELD THE TÜRKİYE–UNITED ARAB EMIRATES BUSINESS FORUM

The Foreign Economic Relations Board of Türkiye (DEİK) organized the Türkiye–UAE Business Forum in İstanbul on May 8, 2026, with the participation of H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade; Mustafa Tuzcu, Deputy Minister of Trade of the Republic of Türkiye; Nail Olpak, President of DEİK; Mehmet Ali Akarca, Chairperson of the DEİK/Türkiye–United Arab Emirates Business Council; Abdullah Al-Hameli, Chairman of the United Arab Emirates–Türkiye Business Council; Humaid bin Salem, Secretary General of the Federation of UAE Chambers of Commerce and Industry; and business representatives from both countries. The Forum featured panel sessions and bilateral business meetings on the themes of "Energy and Sustainability: ‘Powering the Future: Renewable Energy Partnerships Between Türkiye and the UAE'", "Food Security and Agribusiness: ‘Advancing Food Security, Trade, Food Investments, and Resilience Between Türkiye and the UAE'", and "Innovation and Technology: ‘Shaping the Digital Future: Innovation and Technology Partnerships Between Türkiye and the UAE.'"

UAE Minister of Foreign Trade, Dr. Thani Ahmed Al Zeyoudi, stated that the UAE plays a significant role in connecting East and West through trade activities. Noting that bilateral trade between the two countries has tripled compared to 2022, Al Zeyoudi said, "Today, Türkiye is the UAE's fifth largest non-oil trading partner. The growth and success of this investment relationship are the result of the efforts of businesspeople from both countries." Referring to the non-oil trade target of USD 40 billion set two to three years ago through bilateral agreements, he added, "All these figures related to imports and exports are certainly important; however, this progress would not have been possible without the determination of the leaders of both countries."

Tuzcu: "The collaborations we establish in third countries will also create new opportunities"

Deputy Minister of Trade Mustafa Tuzcu stated, "The United Arab Emirates is undoubtedly one of Türkiye's most important trade partners in the Gulf region. The strongest driving force behind the accelerated relations between Türkiye and the UAE in recent years has been the strong political will demonstrated at the highest level. Türkiye is a regional production and export hub with its strong industrial infrastructure, diversified production capability, flexible supply chains, and qualified human resources. The UAE, on the other hand, is an important center of attraction with its comprehensive transformation vision, large-scale investments, financial capacity, and regional economic influence. Investments by UAE companies in our country constitute another important dimension of our economic relations. The UAE ranks among the countries making the highest investments in Türkiye. Turkish companies' investments in the UAE, spanning from accommodation and logistics to construction and information technologies, continue to make significant contributions especially to the UAE's service sector. Turkish contracting firms have undertaken 154 projects worth USD 20 billion in the UAE to date. With these figures, the UAE has become the 10th country where Türkiye has undertaken the highest value of projects. Our companies have proven their competence in a broad range of projects from housing and airports to tunnels and tourism facilities. With their global knowledge and experience, our contractors are ready to undertake major infrastructure and superstructure projects in the UAE in the upcoming period. Furthermore, considering the potential of our economies, the collaborations we establish in third countries will also create new opportunities. Given the complementarity between Türkiye's strength in contracting and the UAE's strong financial capacity, there is significant potential for joint projects in Africa. Through the Development Road Project, we prioritize connecting the Gulf region to Europe and the Middle Corridor, while implementing joint projects by combining the international experience of Turkish contractors with the UAE's financing models."

Olpak: "With the Comprehensive Economic Partnership Agreement, our goal is to increase bilateral trade volume to USD 25 billion"

DEİK President Nail Olpak stated, "With the Comprehensive Economic Partnership Agreement, which entered into force on September 1, 2023, the goal in Türkiye–UAE relations is to increase our bilateral trade volume to USD 25 billion within five years. In 2025, our bilateral trade volume reached approximately USD 19 billion in a balanced manner. Türkiye's exports to the UAE also amounted to USD 9.3 billion." Emphasizing that the economic structures of Türkiye and the UAE complement one another, Olpak continued, "Türkiye is an economic power with its production capacity, industrial infrastructure, and qualified workforce. The UAE, meanwhile, serves as one of the most effective trade platforms through its role as a finance, logistics, and distribution hub. This complementarity is a valuable advantage in the current global environment where diversification of supply chains is of critical importance. At a time when both the world and the Middle East are going through a challenging period marked by increasing geopolitical risks, volatility in energy markets, and the reshaping of global trade routes, our country — the largest investment, production, and technology hub between Western Europe and China — has a foreign trade volume exceeding USD 820 billion, including trade in services. We have significant investment opportunities in nearly every sector, from energy and industry to agriculture and infrastructure investments. I invite the UAE business community to benefit more from these opportunities by investing more in our country."

Akarca: "We can establish a more effective model of economic cooperation on a regional and global scale"

Chairperson of the DEİK/Türkiye–United Arab Emirates Business Council Mehmet Ali Akarca stated, "As the Business Council, through the business forums, delegation visits, and bilateral business meetings we have organized so far, we have enabled direct contact between our companies. In the current global conjuncture, diversification of supply chains and the development of alternative cooperation models are of great importance. We believe that Türkiye and the United Arab Emirates, by acting together during this process, can establish a more effective model of economic cooperation on both a regional and global scale. Important responsibilities fall upon our business communities in order to ensure that the economic relations between Türkiye and the United Arab Emirates become stronger, deeper, and more sustainable. In this process, the active participation and contributions of our valued businesspeople are of great importance."

The sponsors of the Business Forum were Kazed Group and KoçSistem.

TÜRKİYE–ALGERIA TRADE VOLUME TARGET: USD 10 BILLION

The Foreign Economic Relations Board of Türkiye (DEIK) organized the Türkiye–Algeria Business Forum in Ankara on 7 May 2026 on the occasion of Algerian President Abdelmadjid Tebboune's visit to Türkiye. The forum brought together nearly 500 business representatives from both countries, with the participation of Turkish Minister of Trade Prof. Dr. Omer Bolat, Algerian Minister of Foreign Trade and Export Promotion Kamel Rezig, Algerian Investment Promotion Agency Director General Omar Rekkache, DEIK President Nail Olpak, DEIK/Türkiye–Algeria Business Council Chairperson Muhammet Mesut Toprak, and Algerian Economic Renewal Council Vice President Reda Hechelaf. During the forum, several memorandum of understanding were signed between institutions and companies, including agreements between "DEIK and the Algerian Economic Renewal Council (CREA)," "MY Silo and AGROMAVI," "Optimum Süreç Tasarım ve Uygulamaları A.Ş and SOPI," "KLE Information Technologies and Exwor," and "Sarl LYC and Condor."

Bolat: "Turkish Investors Are Ready for Renewable and Solar Energy Projects"

Turkish Minister of Trade Ömer Bolat stated that the Polypropylene (PP) Production Facility and Terminal Project underway in Ceyhan, Adana, would contribute significantly to Türkiye's petrochemical production and would become one of the most important investments between Türkiye and Algeria. Bolat noted that negotiations on the preferential trade agreement, ongoing for two years, are expected to conclude by the end of the year, while talks on an investment promotion and protection agreement are also continuing. He emphasized that Algeria is Türkiye's third-largest trade partner in Africa and the seventh-largest globally in terms of contracting investments. Highlighting that Turkish investments in Algeria amount to approximately USD 8 billion and bilateral trade reached USD 5.6 billion last year, Bolat stated: "The leaders of both countries have set us a target of reaching a bilateral trade volume of USD 10 billion, and we believe there will be a significant upward momentum in trade this year."

Bolat stressed that Algeria has strong consumption power and an attractive investment climate. He also noted that Ziraat Bank's operations in Algeria serve as an important bridge between the business communities of the two countries. Pointing out that Türkiye prioritizes friendly and brotherly countries in strengthening economic integration, Bolat said Turkish investors are active in Algeria across sectors such as iron and steel, chemicals, cleaning products, and textiles. He added that these investors are also prepared to participate in renewable and solar energy projects in the coming period. Bolat underlined the success of Turkish contractors in Algeria's infrastructure and superstructure public projects, revealing that Turkish companies have completed 687 projects worth USD 24 billion in the country.

Rezig: "Türkiye Is a Reliable Economic Partner for Algeria"

Algerian Minister of Foreign Trade and Export Promotion Kamel Rezig stated that Algeria seeks to strengthen cooperation with Türkiye both bilaterally and internationally. He described Türkiye as a reliable economic partner and emphasized the possibility of building a strategic and comprehensive partnership through expanded cooperation. Rezig highlighted the advanced level of relations between the two countries and the goal of achieving a complementary trade partnership. He stressed the need to diversify cooperation and integrate production and economic systems. More than 200 Algerian businesspeople attended the forum, and Rezig called for turning opportunities into concrete projects. He particularly emphasized cooperation in industry, agriculture, mining, and infrastructure as priority areas. "The people of our two countries are brotherly peoples," he said.

Olpak: "We Expect the Conclusion of Preferential Trade Agreement Negotiations"

DEIK President Nail Olpak pointed out that Algeria's Sahara region possesses one of Africa's largest potentials for solar energy and green hydrogen. He noted that cooperation could be developed in manufacturing, banking, and strengthening the private sector. Olpak stated that the business community is awaiting the conclusion of the preferential trade agreement negotiations. He emphasized the importance of Ziraat Bank's presence in Algeria and underlined that the business world expects solutions regarding letters of guarantee and project financing. He also mentioned that easier long-term business visa procedures and a social security agreement covering employees in both countries are among the expectations of the business community.

Rekkache: "Algeria Has Significant Potential"

Algerian Investment Promotion Agency Director General Omar Rekkache stated that Algeria pursues a vision encouraging productive and inclusive investment while supporting industrial and agricultural production and innovation. He emphasized Algeria's vast investment potential and promising future. Rekkache described Algeria as a bridge between Africa and Europe and highlighted the country's strong potential in natural resources, agriculture, and mining. He added that more than 300,000 young people graduate from universities annually, providing a qualified workforce. According to Rekkache, sectors such as renewable energy, agriculture and food, industry, tourism, and healthcare present important opportunities. He also shared that more than 30 Turkish investment projects have been launched in the last three years.

Toprak: "These Achievements Show the Deepening of Economic Relations"

DEIK/Türkiye–Algeria Business Council Chairperson Muhammet Mesut Toprak stated that Turkish companies have undertaken significant projects in Algeria in strategic sectors such as infrastructure, energy, construction, agriculture, and industry. He noted that 30 major Turkish contractor firms are currently active in the country. Referring to growing cooperation in strategic sectors such as seed production, Toprak said: "The participation of Turkish companies in the automotive supplier industry contributing to localization, along with achievements in energy and infrastructure projects, clearly demonstrates the deepening economic relations between our two countries."

Hechelaf: "A Joint Industrial Platform Can Strengthen Common Production"

Algerian Economic Renewal Council Vice President Reda Hechelaf highlighted the strategic importance of both countries' positions in energy and other trade corridors. He noted that Algeria and Türkiye are located in a region where they share common interests. Hechelaf emphasized the importance of the memorandum of understanding signed between CREA and DEIK and expressed confidence in Turkish partners. He also stated that a regional platform could be established to facilitate exports to neighboring countries. According to Hechelaf, Türkiye's strategic location close to Europe and Africa is highly valuable for Algeria's economic diversification efforts. He added that Turkish investments in Algeria exceed USD 6 billion and that a joint industrial platform could strengthen shared production capabilities.

The sponsors of the Business Forum were Tosyalı Algerie and Dekinsan Group.

OLPAK: “THERE IS POTENTIAL TO INCREASE TÜRKİYE–GERMANY TRADE VOLUME TO €250 BILLION IN 10 YEARS”

The German-Turkish Business Council Board Meeting was held in Istanbul on April 27, 2026, with the participation of the 10th President of the Federal Republic of Germany and Honorary Chairperson of the German-Turkish Business Council Christian Wulff, President of Foreign Economic Relations Board (DEİK) Nail Olpak, Chairperson of the DEİK/Türkiye-Germany Business Council Mehmet Ali Yalçındağ, and Board Members of the German-Turkish Business Council.

The two main agenda items of the meeting were the "Opportunities in Türkiye-Germany Cooperation for Private Sector Players" report, prepared by DEİK and Boston Consulting Group's Germany and Türkiye offices, outlining a ten-year vision for economic relations between the two countries, and the evaluation of a private sector initiative regarding Türkiye's full EU membership. During the two-hour meeting, Türkiye's strong integration with Germany and the EU in trade and investment, as well as its future vision, were discussed.

DEİK President Nail Olpak stated that Türkiye and Germany are two countries that have built success together over the years by making bold decisions, setting ambitious goals, and pursuing them with determination. Referring to the report, Olpak said that it seeks to answer where the countries could be in the medium and long term.

"Based on projections for 5–10 year periods, we identified potential developments and numerical targets. We analyzed global mega trends and the opportunities and risks they bring. When we examined the future strategies of Germany and Türkiye, we saw that our strategies overlap in many areas. Our bilateral trade volume, currently around €50 billion including services, has the potential to reach €125 billion within 5 years and €250 billion within 10 years," he said.

Olpak: "We identified 10 different growth areas between Türkiye and Germany"

Olpak noted that the report identifies 10 key growth areas based on both countries' future strategies:

Germany and the EU aim to diversify supply chains. Türkiye is strengthening its position as a reliable and increasingly important production hub in close proximity. With deep business ties, supply chain integration, and a similar SME structure, Türkiye is well positioned to invest in Germany with capable partners.

Türkiye offers a cost-effective healthcare system with a digitalized infrastructure. Germany has Europe's third-largest startup ecosystem, strongly supported by the government. Both countries attract high levels of mutual investment in areas such as textiles, productivity, financial software, gaming, climate technologies, and artificial intelligence.

Germany remains a leader in European e-commerce and is working on adapting customs regulations to its challenges. The report identifies areas where Turkish SMEs can be effective in Germany's e-commerce sector and analyzes the platforms and strategies to follow.

Türkiye and Germany can collaborate to address labor shortages in both countries. Data centers in the EU currently account for 2.7% of total electricity consumption, expected to rise to 28% by 2030, highlighting the importance of cooperation in energy.

Türkiye has a strong tourism infrastructure, while Germany is the largest source of tourists visiting Türkiye. The Caspian and African regions hold high economic growth potential, shaped by infrastructure needs, energy transition, and value-added production. Türkiye and Germany can collaborate in these regions by leveraging their complementary strengths.

Wulff: "We must utilize this potential between Türkiye and Germany"

Christian Wulff emphasized that the world needs Türkiye more than Türkiye needs the world, stating:

"We shake hands with the Turks. We shake hands with Türkiye, and Germany's image in Türkiye remains very positive. Therefore, we must make use of this potential between Türkiye and Germany."

He added that Germany is Türkiye's most important trading partner and highlighted Türkiye's geopolitical and strategic advantages, including shifting supply chains toward Mediterranean ports and relatively lower labor costs, which Germany seeks to benefit from.

Yalçındağ: "The time has come for Türkiye's full EU membership"

Mehmet Ali Yalçındağ stated that, considering Germany's strategic weight both for Türkiye and within the EU, leading Turkish companies were invited to be part of this structure. He noted that the report aims to identify ways to expand the current €50 billion trade volume through sectoral priorities and strategic steps.

He explained that the report focuses on key pillars such as geostrategic transformation, climate and energy, innovation and competitiveness, and demographic and labor dynamics.

Yalçındağ: "Our ultimate goal should be Türkiye's full EU membership"

Yalçındağ emphasized that the current level of integration does not fully reflect the potential:

"For a shared and prosperous future, our ultimate goal as the business community should be Türkiye's full membership in the European Union. The EU, with a population of 500 million and an economy of $18.5 trillion, holds significant potential. With Türkiye's inclusion, this would rise to 600 million people and nearly $20 trillion in economic power."

He added that Türkiye's EU membership would enhance regional energy and supply chain security, defense capacity, and digital competitiveness, contributing to greater strategic autonomy.

He concluded that even without full EU membership, Türkiye has already established strong trade and investment ties, and that full integration would create far greater opportunities.

Following the meeting, DEİK President Nail Olpak, Honorary Chairperson of German-Turkish Business Council, Christian Wulff, and Chairperson of DEİK/Türkiye-Germany Business Vouncil, Mehmet Ali Yalçındağ visited the historic wagon at Rahmi Koç Museum, gifted by German Emperor Wilhelm II to Sultan Mehmed V Reşad.

 

“EUROPE’S COMPETITIVENESS IN THE AGE OF GEOPOLITICAL UNCERTAINTIES,” ORGANIZED IN COOPERATION WITH ADF AND DEİK, WAS HELD

The Panel on "Europe's Competitiveness in the Age of Geopolitical Uncertainties," organized in cooperation with the Antalya Diplomacy Forum (ADF) and DEİK, was held on April 18, 2026, in Antalya under the moderation of DEİK President Nail Olpak. The panel featured the participation of Luxembourg's Deputy Prime Minister, Minister of Foreign and European Affairs, Minister of Foreign Trade, and Minister for Development Cooperation and Humanitarian Affairs Xavier Bettel; Moldova's Deputy Prime Minister and Minister of Foreign Affairs Mihai Popşoi; Iceland's Minister for Foreign Affairs Thorgerdur Katrin Gunnarsdottir; Ireland's Minister of State for European Affairs and Defence Thomas Byrne; and Deputy Minister of Trade of the Republic of Türkiye Mustafa Tuzcu. During the forum, DEİK hosted numerous Heads of State, Ministers, and Ambassadors at its stand.

DEİK President Nail Olpak addressed the issue of competitiveness, which is frequently discussed in the business world, stating:
"We evaluate competitiveness across many dimensions such as price, quality, aesthetics, speed, service, and financing. However, beyond all these elements, predictability has always been and will continue to be our top priority. As the representative of the Turkish business community, and within the framework of Türkiye's EU candidate status, we attach particular importance to addressing these issues from this perspective as well. Will we continue negotiating Türkiye's EU membership for another 60 years and discussing the modernization of the Customs Union for another 30 years? Are we ready to explain to our grandchildren how we limited the future not only by delaying our own opportunities but also theirs? Today's exchange of views once again demonstrates how intertwined our economies are and how important it is to preserve and further strengthen partnerships in an increasingly uncertain global environment. From our perspective, the way forward lies in deepening cooperation based on mutual understanding, shared responsibility, and a long-term vision. At the same time, we must update ourselves according to today's realities. Türkiye and Europe must and will do their best to build a faster, stronger, and genuine partnership during this period of uncertainty, which does not seem likely to end in the short term. I believe that Europe's competitiveness is directly linked to the strength of its partnerships, including Türkiye. In this regard, as the Turkish business community, we are ready to continue working hand in hand with our European counterparts in a constructive and forward-looking manner."

Bettel: "Europe needs a more coordinated industrial policy for competitiveness"

Luxembourg's Deputy Prime Minister and Minister Xavier Bettel stated that Europe needs a more coordinated industrial policy to enhance its competitiveness, emphasizing that Europe should act as a true single market rather than 27 separate ones. He highlighted the impact of energy costs, environmental standards, and social policies on competitiveness, stressing the need for a balanced model without compromising these values. Bettel also pointed out that the rules-based global system is weakening, making economic predictability more difficult in the current environment of uncertainty. Referring to Türkiye-EU relations, he underlined the importance of maintaining close ties and called for mutually beneficial, win-win solutions.

Popşoi: "Significant progress achieved in energy, security, and economy with EU support"

Moldova's Deputy Prime Minister and Foreign Minister Mihai Popşoi described the European Union as one of the most successful economic and peace projects in the world, stating that greater integration is needed to enhance competitiveness. He noted that if barriers to a true single market are removed, Europe has significant growth potential and could potentially double its GDP by eliminating trade barriers. Popşoi highlighted the substantial progress achieved in energy, security, and economic fields with EU support and stated that Moldova has made significant advancements in its EU accession process. He also emphasized that Türkiye is an important trading partner for Moldova and welcomed the strengthening of bilateral trade relations and cooperation.

Gunnarsdottir: "Changing global conditions require stronger integration with Europe"

Iceland's Minister for Foreign Affairs Thorgerdur Katrin Gunnarsdottir emphasized that the European Union is not only an economic structure but also one built on shared values. She stated, "As Iceland, we are not an EU member, but we support membership. The EU is a superpower and should act like one. Competitiveness is not only about the economy; values such as democracy and human rights are also important." She stressed that competitiveness should be evaluated alongside democracy, human rights, and the rule of law, and noted that changing global conditions necessitate stronger integration with Europe.

Byrne: "We want to have great relations with Türkiye and our neighbors"

Ireland's Minister of State for European Affairs and Defence Thomas Byrne recalled that the European Union is fundamentally a peace project and emphasized the need to balance economic growth with social and environmental goals. He stated that efforts are ongoing to strengthen the single market and reduce bureaucracy, adding that green and digital transformations are reshaping the economic structure. Byrne expressed openness to improving relations with Türkiye and said they want to maintain excellent relations with Türkiye and its neighbors.

Tuzcu: "Türkiye is not just a partner but an integral part of the EU's strategic autonomy and industrial transformation goals"

Deputy Minister of Trade of the Republic of Türkiye Mustafa Tuzcu stated: "We are a European country. We expect our friends to accept this. Türkiye has a defense system. It will make a major contribution to industrial competitiveness." He noted that the EU is undergoing a new industrial transformation process to enhance competitiveness, with goals such as closing the innovation gap, achieving carbon neutrality, and reducing strategic dependencies through the "Competitiveness Compass." Tuzcu emphasized that these goals cannot be achieved without strong economic growth. He also pointed out that the EU has shown low growth performance over the past 20 years and its share in global exports has declined, adding that the EU's new approach places greater emphasis on economic resilience and strategic autonomy. Tuzcu warned that current industrial policies risk becoming overly inward-looking, fragmented, and overly regulated. He highlighted that Türkiye is a critical partner for Europe in terms of energy, industry, food, and logistics security, and with its young and dynamic structure, can contribute to solving Europe's growth challenges. He also argued that the Customs Union has become outdated and must be updated to align with current global economic conditions, including areas such as services, digital trade, and public procurement. Tuzcu concluded by emphasizing that Türkiye is not merely a partner but an integral part of the EU's strategic autonomy and industrial transformation objectives.

The sponsors of the event were Eksim, ETİ, Glory Group, Hayat Holding, Roketsan, and Türk Altın.

MINISTER BOLAT: “TURKISH COMPANIES ARE READY TO TAKE PART IN THE RECONSTRUCTION OF SYRIA”

Hosted by the Foreign Economic Relations Board of Türkiye (DEİK), the Türkiye–Syria Business and Investment Forum was held in Istanbul on April 7, 2026, within the scope of the 1st Term Meeting of the Türkiye–Syria JETCO. The forum was attended by Minister of Trade of the Republic of Türkiye Prof. Dr. Ömer Bolat, Syrian Minister of Economy and Industry Prof. Dr. Muhammed Nidal eş-Şaar, DEİK President Nail Olpak, Chairperson of the Syrian Business Councils Coordination Council Rawad Ramadan, DEİK/Türkiye–Syria Business Council Chairperson Mahsum Altunkaya, Syria–Türkiye Business Council Chairman Hüssam Eddin Tatari, and representatives of the business communities of both countries.

Minister Bolat: "We achieved $3.7 billion in trade with a 40% increase last year"

Emphasizing their commitment to balanced and sustainable trade with Syria, Minister Bolat stated: "We have provided our Syrian counterparts with the necessary information regarding both the revival of the Free Trade Agreement that existed before 2011 and the possibility of concluding a more comprehensive economic cooperation agreement at a higher level. We are currently progressing step by step through JETCO. On the other hand, we had signed the agreement establishing the Joint Customs Committee in Syria, and it entered into force on March 26. From now on, issues such as facilitation and acceleration in customs procedures will be addressed and resolved within this committee by the relevant ministers of both governments."

Highlighting the war that has affected neighboring countries in the Middle East, Bolat noted that accelerating and facilitating transit trade between Türkiye and Syria is of great importance in meeting regional supply needs. He recalled that two agreements in the field of transportation were signed by the relevant ministers, including one signed in Istanbul on June 28 last year regarding transit through Syria. "Transit trade is now possible through Syria to the entire Middle East and the Gulf. Similarly, we have recently made significant progress with our brotherly country Saudi Arabia regarding driver visas for transit trade—an issue that had not advanced for 10 years. Starting next Wednesday, transit trade via Saudi Arabia will also begin," he said.

Bolat also emphasized that Turkish contracting companies, which have gained global recognition, are ready to participate in Syria's reconstruction:
"Following the restoration of unity and stability in Syria and the lifting of financial sanctions, confidence and stability will increase. We firmly believe that investments, construction activities, contracting services, and industrial zone developments will accelerate."

Eş-Şaar: "We can host partnerships between our brothers from Syria and Türkiye"

Stating that Turkish investors can enter Syria safely and comfortably, Syrian Minister of Economy and Industry Prof. Dr. Muhammed Nidal eş-Şaar said:
"Our duty is to resolve the investment-related issues of our brothers. We are ready. We can host partnerships between our brothers from Syria and Türkiye. By benefiting from Türkiye's centuries-old experience and Syria's rich heritage, we are ready to turn this vision into reality. The relationship between Türkiye and Syria is not newly formed nor driven by political developments—it is destiny." Eş-Şaar added that as Syria enters a new phase of freedom, it is becoming a country of opportunity, attracting thousands of investments.

Olpak: "Syria is striving to overcome the challenges of the past 15 years"

DEİK President Nail Olpak noted that rebuilding an entire system is not easy for the Syrian government, which took office in March last year:
"As the DEİK family, we will do everything we can. Syria, which has endured significant challenges over the past 15 years, is now making efforts to overcome them and move toward a better future. Our Türkiye–Syria Business Council has been active since 2000, and we will continue to stand by our Syrian counterparts with full support."

Olpak emphasized the importance of logistics, customs procedures, financing, and money transfers for improving bilateral economic relations. He also highlighted the need for agreements on the prevention of double taxation and mutual investment protection:
"There is no technical or technological problem that cannot be solved. We have proven this as the Turkish business community, and we can achieve it together with our Syrian partners. Two key elements are needed: a solid legal and regulatory framework, and adequate financing. We define Türkiye as the largest investment, production, and technology hub between Western Europe and China, with foreign trade exceeding $820 billion. Therefore, we invite more Syrian companies to invest in this beautiful country."

Ramadan: "We see strong cooperation between public institutions and companies"

Chairman of the Syrian Business Councils Coordination Council Rawad Ramadan underlined the importance of the forum, noting that it supports cooperation between the two countries:
"We see a strong joint effort between public institutions and companies. Cooperation between Türkiye and Syria holds great opportunities. Today, Syria represents an opportunity, and Türkiye has significant experience."

Altunkaya: "Improving customs practices and banking integration is crucial"

Mahsum Altunkaya, Chairperson of the DEİK/Türkiye–Syria Business Council, emphasized the growing trade potential between the two countries: "In 2025, Türkiye's exports to Syria increased significantly to $3.5 billion, while imports from Syria decreased by 46% to $235 million. Thus, total trade volume reached $3.7 billion. However, high customs duties and rising logistics costs imposed by Syria negatively affect the competitiveness of our exporters. Improving customs practices, ensuring banking integration, and establishing joint economic zones are of great importance."

Tatari: "We will accelerate efforts to revitalize economic relations"

Syria–Türkiye Business Council Chairman Hüssam Eddin Tatari stated:
"Our goal is not only to enhance trade but also to establish a long-term strategic partnership based on mutual benefit. Our first concrete step is a jointly developed textile cooperation and integration plan, targeting an annual business volume of $7 billion. We also foresee the creation of 400,000 jobs in Syria and 50,000 in Türkiye. We will work to accelerate the legal and regulatory processes needed to strengthen economic relations."

Following the opening speeches, three panels titled "From Border to Market: Rebuilding Logistics Networks in Syria," "Restoring Financial Flows: Banking and Payment Systems in Syria," and "Reconstruction Drive: Contracting and Infrastructure Projects in Syria" were held, where business representatives from both countries discussed sector-specific opportunities for the future of Türkiye–Syria economic relations.

Forum sponsors included Altunkaya Construction, Özeller Group, Acarsan Holding, Kadooğlu Yağ, and Mahmood Coffee.

DEİK BROUGHT TOGETHER TURKISH AND FRENCH BUSINESS LEADERS IN İSTANBUL

Foreign Economic Relations Board of Türkiye (DEİK), in cooperation with MEDEF International, held the Türkiye–France Business Roundtable Meeting in Istanbul on 17 February 2026 within the framework of the Türkiye–France JETCO Meeting.


The meeting was attended by H.E. Prof. Dr. Ömer Bolat, Minister of Trade of the Republic of Türkiye; H.E. Nicolas Forissier, Minister Delegate for Foreign Trade and Economic Attractiveness of France; Mr. Mustafa Tuzcu, Deputy Minister of Trade of the Republic of Türkiye; H.E. Isabelle Dumont, Ambassador of France to Türkiye; Mr. Nail Olpak, President of DEİK; Mr. Mehmet Ali Yalçındağ, DEİK/Türkiye–Europe Business Councils Coordinating Chairperson; Mr. Jean Lemierre, President of MEDEFi/France–Türkiye Business Council; and representatives of the business community.


During the meeting, two MoUs were signed between Bpifrance - Limak Holding and Rönesans Holding.

TÜRKİYE–EGYPT TRADE VOLUME TARGET: USD 15 BILLION

Within the scope of the official visits to Saudi Arabia and Egypt led by H.E. Recep Tayyip Erdoğan, President of the Republic of Türkiye, the Business Forums organized by DEİK were held on February 3–4, 2026. The final stop of the visits was Egypt.

The Egypt–Türkiye Business Forum, jointly organized by the Foreign Economic Relations Board of Türkiye (DEİK), the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), and the General Authority for Investment and Free Zones of Egypt (GAFI), was held on February 4, 2026, in Cairo, the capital of Egypt, with the participation of H.E. Recep Tayyip Erdoğan, President of the Republic of Türkiye; H.E. Abdel Fattah El-Sisi, President of the Arab Republic of Egypt; H.E. Prof. Dr. Ömer Bolat, Minister of Trade of Türkiye; H.E. Hassan El Khatib, Minister of Investment and Foreign Trade of Egypt; DEİK President Nail Olpak; TOBB President M. Rifat Hisarcıklıoğlu; Deputy Minister of Trade of Türkiye Mustafa Tuzcu; DEİK/Türkiye–Egypt Business Council Chairperson Mustafa Denizer; and more than 850 businesspeople from both countries.

President Erdoğan stated: "We are two major countries located at the center of developments that dominate the international agenda. We are witnessing together that our cooperation contributes not only to our countries but also to the stability of our region. We aim to utilize this especially in the fields of investment and trade in the most efficient way."

Emphasizing that Egypt is Türkiye's largest trading partner in Africa and that bilateral trade volume has exceeded USD 8 billion, President Erdoğan said: "Türkiye ranks third among Egypt's export destinations with a share of 7.4%, and seventh among its import partners with a share of 3.4%. These figures encourage and motivate us; however, we are still below our target of USD 15 billion in trade volume. Together with President Abdel Fattah El-Sisi, we will continue our close cooperation with determination to reach this target. We expect positive developments from our Egyptian friends regarding the resolution of issues our investors may face in residence permits, work permits, and licensing."

Erdoğan: "We are open to all proposals on the road to the USD 15 billion trade target."

President Erdoğan noted that Egypt currently ranks as the second-largest destination for Turkish investments, expressing satisfaction that Türkiye's investments in Egypt, approaching USD 4 billion, support employment for 100,000 Egyptians. He highlighted the success of Turkish companies in sectors such as textiles, chemicals, glass, hygiene products, manufacturing, and tourism, and expressed hope that Turkish firms would take part in the construction of 14 new smart cities planned under Egypt's 2030 Vision. Stating that there is much more to be done in energy, mining, and raw materials, President Erdoğan also underlined the importance of restarting Ro-Ro shipping services, which first began in 2012, for mutual benefit. He added: "With Egypt's strategic position in global maritime transportation due to the Suez Canal, we can also cooperate in shipbuilding. We are always ready for this on a ‘win-win' basis. As you can see, there are tremendous cooperation opportunities between our two countries. Those who will realize these opportunities are you, with our support. As long as you work, produce, and create employment, we will continue to pave the way for you. We are open to all proposals on the path to the USD 15 billion trade target."

El-Sisi: "Türkiye is one of the most important destinations for Egyptian exports."

President Abdel Fattah El-Sisi expressed his deep appreciation for the business communities of both countries for achieving increasing momentum in economic and trade cooperation in recent years.

He stated that the Egypt–Türkiye Business Forum highlights the importance of the economic partnership between the two countries, adding: "The economic relations between Egypt and Türkiye are built on solid and practical foundations. Strong economic integration, geographical and cultural proximity, and political and commercial will have contributed to reaching unprecedented levels of trade and investment cooperation. Egypt is Türkiye's most important trade partner in Africa, and Türkiye is one of the main destinations for Egyptian exports. Turkish investments in Egypt have exceeded USD 4 billion. As we celebrate the 100th anniversary of the establishment of diplomatic relations between our countries, President Erdoğan and I agreed today that the full potential of cooperation has not yet been realized."

El-Sisi: "I particularly appreciate the successful experience of Turkish ready-to-wear and textile investors."

President El-Sisi noted that global developments require supply chains to become more localized and closer to markets, emphasizing the importance of integrating Turkish industrial expertise with Egypt's advantages. He pointed to joint cooperation opportunities in priority sectors such as automotive and spare parts, chemicals, metals, and household appliances, particularly in technologically significant fields.

Commending the successful experience of Turkish ready-to-wear and textile investors operating in Egypt, he said: "The contributions of these investors have a significant and effective share in Egypt's exports abroad in this sector. Furthermore, we welcome the expansion of Turkish investments in other sectors such as chemicals and healthcare industries. These investments create real added value, generate employment, and contribute to the transfer of knowledge and expertise in industry and technology."

Olpak: "Egypt serves as a key bridge not only to Africa but also to international markets."

DEİK President Nail Olpak stated: "The Free Trade Agreement between Egypt and Türkiye is a crucial foundation for improving our trade relations. Our bilateral trade reached around USD 8 billion in 2025. Turkish businesspeople have recently accelerated their investments in the region. Today, we are proud of Turkish investments in Egypt exceeding USD 3 billion and providing employment for 100,000 people. Egypt serves as an important bridge for Turkish companies not only to Africa but also to international markets. Our goal is to increase the trade volume to USD 15 billion within a reasonable timeframe."

Highlighting the strong potential for logistics cooperation, Olpak continued: "Tourism is a significant area of cooperation. Through joint projects, we should further enhance the tourism potential of both Egypt and Türkiye. In industry, particularly in textiles and ready-to-wear sectors, we can strengthen our cooperation through joint production models and export to third markets, especially Africa and the Middle East. In energy, the transition to renewable energy, storage solutions, and diversification of energy supply sources are shared objectives. By working together, we can achieve these goals faster. Türkiye has made major breakthroughs in the defense industry. Cooperation in this field is also important for regional security and stability. To have a stronger voice in the future economy, we should also collaborate in digital transformation sectors such as e-commerce, fintech, and artificial intelligence, as well as in providing financial solutions necessary for the development of all our investment and trade relations."

The forum sponsors were Polaris Parks and the Bank of Bahrain and Kuwait (BBK).

 

TÜRKİYE AND SAUDI ARABIA TRADE VOLUME TARGET: $30 BILLION

Under the leadership of H.E. Recep Tayyip Erdoğan, Business Forums organized by the Foreign Economic Relations Board of Türkiye (DEİK) were held on 3–4 February 2026 as part of the official visits to Saudi Arabia and Egypt. The first stop of the visits was Saudi Arabia.

The Saudi Arabia–Türkiye Investment Forum, organized by DEİK in cooperation with the Ministry of Investment of Saudi Arabia (MISA), was held on 3 February 2026 in Riyadh, the capital of Saudi Arabia. The Forum was attended by Saudi Minister of Investment Khalid Al-Falih, Minister of Trade of the Republic of Türkiye Prof. Dr. Ömer Bolat, DEİK President Nail Olpak, Deputy Minister of Trade of the Republic of Türkiye Mustafa Tuzcu, DEİK/Türkiye–Saudi Arabia Business Council Chairman Haşim Süngü, Saudi Arabia–Türkiye Business Council Chairman Sami Mohammed Al-Osaimi, and more than 800 business representatives from both countries.

Minister of Trade of the Republic of Türkiye Prof. Dr. Ömer Bolat stated: "The decision to elevate economic, political, defence industry, and energy relations between the two countries to a strategic level is the result of the visionary perspectives and ideas of our esteemed leaders." Emphasizing that Saudi Arabia holds great importance for Türkiye in both energy and contracting sectors, Bolat said: "Turkish contractors have completed 434 projects in Saudi Arabia, amounting to a total value of USD 32.5 billion. In the new period, Saudi Arabia's Vision 2030 development projects, the fact that Expo 2030 will be held in Riyadh, and Saudi Arabia's hosting of the 2034 FIFA World Cup demonstrate that major projects in the contracting and construction sectors will be carried out through strong joint cooperation."

Bolat: "We aim to increase our trade volume to USD 10 billion in the short term and to USD 30 billion in the long term"

Noting that the trade volume between Türkiye and Saudi Arabia has exceeded USD 8.6 billion, Bolat stated: "Our leaders' targets to raise bilateral trade volume to USD 10 billion in the short term and USD 30 billion in the long term remain firm. As ministries and business representatives of both countries, we will work wholeheartedly to achieve these goals. I hope that 2026 will be the year we reach the USD 10 billion target. There are significant Saudi investments in renewable energy in Türkiye, as well as in other sectors. These investments, currently valued at USD 2 billion, are expected to increase by several billion dollars with new projects under discussion. Additionally, Türkiye has made USD 117 million in international investments in Saudi Arabia. In all these efforts, we aim to increase trade and energy cooperation, expand and improve transportation corridors, and boost mutual foreign direct investments. Cooperation in the defense industry between Türkiye and Saudi Arabia is also accelerating in both procurement and joint production."

Al-Falih: "We want to increase our investments in different parts of the world by combining our strengths"

Saudi Minister of Investment Kahalid Al-Falih stated: "We expect this visit to further strengthen cooperation between Saudi Arabia and Türkiye. This new phase will build upon our very important strategic relationship and elevate it to higher levels. These high-level engagements clearly reflect the depth of political alignment between the two countries, and our leaderships shared determination to take relations to a new strategic level. The presence of a business delegation comprising more than 200 companies during this visit demonstrates that economic cooperation and the private sector are at the heart of this partnership. We are very pleased to welcome Turkish companies among us."

Al-Falih emphasized that this Investment Forum was not an ordinary event, describing it as "an unprecedented forum" that signifies a clear transition from rhetoric to implementation based on mutual trust. He noted that Saudi Arabia's investments in Türkiye have exceeded USD 2 billion, particularly focusing on construction and real estate.

Highlighting the rapid increase in the number of Turkish companies operating in Saudi Arabia, Al-Falih added: "This demonstrates how much bilateral cooperation and trade relations have grown and the significant potential they hold. We are very pleased to see the Turkish private sector here. You have contributed greatly to Saudi Arabia and to the world. Today, we want to achieve tangible progress. We aim to further expand our partnership over the next three years, especially in mutual investments. By combining our investments, we also want to increase our global footprint. The potential of the private sectors of Türkiye and Saudi Arabia goes far beyond what we envision. When we look at the opportunities in both countries, we see tremendous potential. I encourage all participants to benefit from the investment opportunities in our country."

Olpak: "The most important strategy is to collaborate more with reliable partners"

DEİK President Nail Olpak stated that more than 350 Turkish companies operate in Saudi Arabia and emphasized the significant role of finance and banking in advancing relations. "Ziraat Bank has a branch in Jeddah, and we are pleased with that. Our friends have asked whether a branch could also be opened in Riyadh, and we will convey this request to the relevant authorities," he said.

Noting the increasing uncertainty and unpredictability in the global economy, Olpak stated: "In such a period, the most important strategy is to collaborate more with reliable partners. In this regard, Türkiye and Saudi Arabia are two countries bound by friendship and trust. We must advance both our trade and investments within this framework." He underlined that Türkiye is the largest investment, production, and technology hub between Western Europe and China, with significant investments in energy, industry, agriculture, and infrastructure, and highlighted the country's recent advancements in the defence industry ecosystem. Olpak concluded by inviting Saudi business representatives to benefit more from the investment opportunities in Türkiye.

Süngü: "Turkish companies have undertaken projects exceeding USD 25 billion"

DEİK/Türkiye–Saudi Arabia Business Council Chairman Haşim Süngü stated that there is a strong relationship between Türkiye and Saudi Arabia. Both countries are members of the G20 and among the largest economies in the region. More than 5,600 Turkish companies operate in the Saudi market, compared to approximately 3,500 just a few years ago. This rapid increase is the result of mutual trust and a clear vision.

In terms of investment and implementation, Turkish companies have undertaken projects exceeding USD 25 billion, particularly in infrastructure, construction, and mega projects. "We are part of the strategic projects under Saudi Arabia's Vision 2030. This is not new for us; it is built upon a strong and proud track record," he said.

As the DEİK/Türkiye–Saudi Arabia Business Council, they organized more than 20 events in 2024–2025, 13 of which were attended by ministers and senior public officials. By bringing together thousands of businesspeople, they have taken concrete steps to increase mutual investments, facilitate trade, and develop new partnership models. Emphasizing Turkish companies' global expertise in implementation and operation, particularly in delivering large-scale projects with speed and strong project management, Süngü stated that this expertise aligns naturally with the major projects carried out under Vision 2030.

During the event, a cooperation agreement was signed between the Turkish Contractors Association (TMB) and the Saudi Contractors Authority, the official public authority responsible for regulating, developing, and representing the construction and contracting sector in Saudi Arabia.

The Forum sponsor was Bank of Bahrain and Kuwait (BBK).

 

MINISTER BOLAT: “OUR 200 INVESTORS IN MOROCCO CONTRIBUTE AROUND 1 BILLION DOLLARS TO THE ECONOMY”

Organized by the Foreign Economic Relations Board of Türkiye (DEİK) and the General Confederation of Moroccan Enterprises (CGEM), the Türkiye–Morocco Business and Investment Forum was held in Istanbul on 28 November 2025, with the participation of Türkiye's Minister of Trade Prof. Dr. Ömer Bolat, Morocco's Secretary of State in charge of Foreign Trade Omar Hejira, Morocco's Ambassador to Ankara Mohammed Ali Lazreq, DEİK President Nail Olpak, Vice President of the Investment Office of the Presidency of Türkiye Furkan Karayaka, CGEM President Chakib Alj, CEO of the Moroccan Investment and Export Development Agency Ali Seddiki, CGEM/Morocco-Türkiye Business Council President Najib Chraibi, DEİK/Türkiye–Morocco Business Council President Zeynep Bodur Okyay, and nearly 400 businesspeople.

Speaking at the Forum, Minister of Trade Prof. Dr. Ömer Bolat emphasized that Morocco's exports to Türkiye have increased ninefold and Türkiye's exports to Morocco eightfold over the last 18 years during which the Türkiye-Morocco Free Trade Agreement has been in force. He stated that as of 2024, the bilateral trade volume between the two countries reached 5 billion dollars, adding:

"We want this trade to continue in a balanced, win-win manner."

Highlighting the importance of investment alongside trade, Bolat said: "There is no need to shy away from investment; as investments grow, foreign trade also accelerates. Around 200 Turkish investors in Morocco contribute nearly 1 billion dollars to the economy. This meeting is an important gathering for Turkish and Moroccan businesspeople to conduct investment and trade discussions."

Bolat also noted that representatives from the automotive, textile, and contracting sectors were present, adding: "Our contractors, who have successfully completed projects worth 100 billion dollars across Africa, have implemented 113 construction projects worth 4.2 billion dollars in Morocco. They are ready to cooperate on investments needed for the World Cup preparations, such as stadium construction and modernization, hotel construction, rail and road projects, and airport capacity expansion. We believe today's talks will lead to positive and concrete results for businesspeople of both countries. In about a month and a half, during our visit to Morocco with public and private sector representatives, we will sign agreements related to the issues discussed so far."

Hejira: "The Governments of Morocco and Türkiye Share a Common Will"

Morocco's Secretary of State responsible for Foreign Trade, Omar Hejira, stated that there has been intensive exchange of visits and meetings between the two countries. He emphasized that these discussions resulted in practical recommendations aimed at increasing bilateral trade, ensuring balance, and deepening economic cooperation based on the win-win principle.

Hejira underlined that joint initiatives focused on supporting co-industrial production projects and achieving better trade balance that would positively contribute to both economies. He added that the organization of the Türkiye–Morocco Business and Investment Forum is "the fruit of all these efforts."

Drawing attention to the opportunities provided by Morocco co-hosting the World Cup, Hejira stated:

"This will be extremely important for Morocco, not only in terms of sports but from all perspectives. The governments of Morocco and Türkiye have a common will. We have the determination and strength to realize it. Today's business forum is a real opportunity to strengthen business and economic cooperation."

Lazreq: "There Will Be Major Developments and Significant Investment Opportunities Due to the World Cup"

Morocco's Ambassador to Ankara, Mohammed Ali Lazreq, emphasized the deep historical ties between the two countries. He highlighted Morocco's recent major advancements in infrastructure, stating: "We currently have Africa's largest ports, as well as numerous railways and highways." Speaking about the investment opportunities linked to the World Cup, Lazreq said:

"We expect Turkish real estate companies and investors to come to Morocco and explore these opportunities. There will be significant developments due to the World Cup, creating a major investment window."

He also pointed out that Türkiye's investments in Morocco over the last decade did not exceed 300 million dollars, placing Türkiye 17th among foreign investors in Morocco, and remarked that this ranking shows the Turkish private sector must demonstrate "a stronger and more effective will" to fully seize Morocco's promising investment environment.

Olpak: "We View Morocco as a Broad Market Within Africa and Global Agreements"

DEİK President Nail Olpak said: "Today, we are here to work and win together. DEİK operates with the motto of business diplomacy and has been working voluntarily without using public resources for 40 years. Our Türkiye–Morocco Business Council has been active since 1990. I thank both parties for their cooperation." Olpak underlined the 5-billion-dollar bilateral trade volume and added that Turkish companies and their Moroccan partners have already completed infrastructure projects exceeding 4 billion dollars. He stressed that Türkiye sees Morocco not merely as a single-country market, but as a gateway to Africa and wider international markets due to its agreements. Olpak said: "In bilateral trade, balance is of course desirable; however, if there is any imbalance, we must analyze whether it stems from consumer goods or intermediate goods that support Morocco's growing industries. A significant portion of Morocco's imports from Türkiye consists of intermediate goods used in its own production." He also invited the Moroccan business community to benefit from investment opportunities in Türkiye.

Bodur Okyay: "We Can Build a New Türkiye–Morocco Economic Axis"

DEİK/Türkiye–Morocco Business Council Chairperson Zeynep Bodur Okyay emphasized that the historical friendship between Türkiye and Morocco has evolved into a responsibility to jointly shape the future: "We believe we are in the right place at the right time. This forum offers an opportunity to move from a model based solely on procurement and traditional cooperation toward a model where we jointly create value chains, produce together, and develop technology."

She added that if the period is utilized effectively, both countries can jointly develop technology in strategic sectors and cooperate in automotive, textiles, machinery, logistics, and agricultural modernization, gaining access to African and European markets together.

Alj: "Together We Can Build Value Chains That Serve Europe, Africa, and Beyond"

CGEM President Chakib Alj stated that while the Türkiye–Morocco partnership is not new, it is transforming. "Those who look at the numbers see progress; those who look at the potential realize we are only at the beginning," he said. Alj emphasized the complementary strengths of the two countries:

"Türkiye offers scale, technology, and expertise. Morocco offers agility, talent, and market access. Together, we can build value chains that serve Europe, Africa, and beyond."

Following investment opportunity presentations from both Türkiye and Morocco, the Forum continued with panels on the textile and automotive sectors, as well as success story sessions.

The sponsors of the Türkiye–Morocco Business and Investment Forum were Kale Group and ORAU.

“EU–TÜRKİYE BUSINESS SUMMIT” HELD IN BRUSSELS

The "EU–Türkiye Business Summit," co-organized for the first time by the Foreign Economic Relations Board (DEİK)/Türkiye–Europe Business Councils and the European Business Summit (EBS), was held on 17 November 2025 at Brussels' historic Egmont Palace.

The Summit, organized for the first time this year by DEİK and the European Business Summit (EBS), one of Europe's most prestigious business platforms, brought together Minister of Trade Prof. Dr. Ömer Bolat, Deputy Minister of Trade Mustafa Tuzcu, Ambassador Faruk Kaymakcı, Permanent Delegate of Türkiye to the European Union, Turkish Ambassador to Belgium Görkem Barış Tantekin, Türkiye's Permanent Representative to NATO Ambassador Basat Öztürk, DEİK President Nail Olpak, Gert Jan Koopman, Director-General for Neighbourhood and Enlargement Negotiations of the European Commission, Mehmet Ali Yalçındağ, Coordinating Chairperson of DEİK/Türkiye–Europe Business Councils, EBS Director-General Arnaud Thysen, Ambassadors, senior government officials, members of the European parliament, think tank leaders, senior executives of global companies, and more than 400 businesspeople.

Bolat: "The Summit provides a highly suitable platform to discuss and shape the Türkiye–EU economic partnership"

Addressing the summit via videoconference, Minister of Trade Prof. Dr. Ömer Bolat said, "I regret not being able to join you physically in Brussels. However, I am pleased to come together with you simultaneously via video link. Today's summit provides a highly suitable platform to discuss and shape a stronger and forward-looking Türkiye–EU economic partnership." Pointing out that they were gathering at a time when global trade has become increasingly unpredictable, Bolat said, "Trade disputes, unilateral measures, rising protectionism, and intensifying industrial competition continue to reshape global markets. I believe the Summit will provide a basis for productive discussions on Türkiye's economic and strategic integration with the European Union and pave the way for a deeper and more resilient partnership."

Stating that Türkiye's exports to the European Union had reached an all-time high of 109 billion dollars, Bolat said, "The EU accounted for 41 percent of our total exports. Türkiye continues to be a strategic production and supply hub for the EU. Around 70 percent of foreign investments in Türkiye come from European partners and contribute approximately 70 billion dollars annually to our export revenues. EU companies operating in our country employ nearly 1.2 million people and play a critical role in the supply chains sustaining Türkiye's exports to the EU. Our partnership stands out as a stable, rules-based, and mutually beneficial framework." Noting that the Türkiye–EU Customs Union, established in 1995, has long been the cornerstone of their economic relations, Bolat continued: "However, after thirty years, global trade conditions have changed, and the existing framework has become insufficient to fully reflect these new dynamics. Therefore, the modernization of the Customs Union has become indispensable not only for strengthening our economic integration but also for ensuring a fair, predictable, and future-oriented trade environment. Its expansion to include services, digital trade, green transformation, and regulatory cooperation will open new opportunities, increase competitiveness, and address existing structural problems. We must remember that the modernization of the Customs Union is not merely a trade agreement; it is also an invitation for future-oriented investments. I invite our business partners in the EU to explore the opportunities in Türkiye's business environment, where real joint investment potential exists."

Olpak: "The EU continues to be Türkiye's largest trading partner"

DEİK President Nail Olpak stated, "Regarding the Customs Union, if a negotiation has been ongoing for 10 years, something is wrong. In a partnership, if there is a loss, the large side loses more; the small side loses less. Türkiye and the EU share a deep and dynamic partnership based on mutual interests, economic integration, and a vision of stability and prosperity. Our trade and investment relations form the backbone of this partnership. While the EU continues to be Türkiye's largest trading partner, Türkiye is also one of the most important markets for the EU. Mutual investments are another area of cooperation that carries great importance for both sides." Emphasizing that the next phase of Türkiye–EU economic cooperation should not remain limited to dialogue but must transform into concrete action, Olpak added: "At this point, green and digital transformation presents us with a shared agenda. Türkiye's rapidly growing renewable energy capacity, advanced production infrastructure, and digital capabilities make it an ideal partner for Europe's twin-transition goals. Moreover, cooperation in energy security, climate resilience, connectivity, and the defense industry are areas where Türkiye can make significant contributions to Europe's strategic autonomy. In this context, Türkiye's active participation in the European Security Action Program (SAFE) and the development of joint projects hold great importance. However, if we truly want to deepen our trade and investment relations, we must ensure the free movement of goods, people, and services and avoid protectionist approaches. In this new period, we must shape the future as partners who think and act together. By renewing trust, modernizing our economic framework, and strengthening innovation-oriented cooperation, we can build a more competitive, sustainable, and secure European economy with Türkiye at its heart. DEİK stands ready to support all efforts to strengthen the Türkiye–EU partnership under the spirit of ‘Business Diplomacy' through its 153 Business Councils."

Koopman: "Türkiye is an integral part of Europe's vision"

Gert Jan Koopman, Director-General for Neighbourhood and Enlargement Negotiations of the European Commission, emphasized that Türkiye is a decisive actor contributing to regional stability and connectivity, noting that Türkiye and the EU share the same geography, have deeply interconnected economies, and that historical ties also play a significant role. Stating that Türkiye is an EU candidate country, a NATO member, and one of the EU's key partners in many areas of trade and mutual interest, Koopman said, "Türkiye is a decisive actor contributing to regional stability. It also plays a key role in regional connectivity."

Pointing out Türkiye's critical position regarding issues such as Syria, Russia's war against Ukraine, and the establishment of lasting peace in the South Caucasus, Koopman said that the EU and Türkiye have common interests in enhancing cooperation. Emphasizing the continued importance of working on the Customs Union Agreement, Koopman said, "If constructive engagement continues and we see progress towards restarting negotiations on the Cyprus issue, work towards the modernization of the Customs Union will also resume. This, of course, will help reshape the full potential of EU–Türkiye relations. Europe is not only a political project. It is a shared vision of coexistence, common prosperity, and peace. Türkiye, with its historical background and dynamism, is an integral part of this vision."

Yalçındağ: "Together we can write a bright success story in global trade"

Mehmet Ali Yalçındağ, Coordinating Chairperson of DEİK/Türkiye–Europe Business Councils, stated that both the European Union and Türkiye are facing various challenges due to recent global political and economic developments. Identifying three main areas regarding the design of a strategic partnership between Türkiye and the EU, Yalçındağ said: "First; after the Covid-19 pandemic, costs increased sharply, placing heavy pressure on the industries of many EU countries. Combined with concerns over energy dependency, Türkiye stands out as both a cost-advantageous and energy-efficient production hub, while also positioning itself as a reliable energy transit center. Second; security and defense are among today's most important agenda items. With NATO's second-largest army, Türkiye is one of the EU's most reliable partners. Establishing strong partnerships with the Turkish defense industry will strengthen our strategic cooperation and contribute significantly to regional security. We must focus on mutual benefit. Finally; in a period when global trade flows are disrupted and supply chains face new challenges, distance is the most critical factor in determining new trade routes." Stating that Türkiye is a strategic and resilient partner for Europe in energy, security, and supply chains, Yalçındağ said, "Together we can write a bright success story in global trade. We must be more proactive. Türkiye is ready to do more for the EU. I kindly ask you to genuinely evaluate how you approach this plan. We owe this not only to our past but also to future generations. Therefore, as the business world, we must work harder, be fearless, and most importantly act together as one with a common purpose."

Thysen: "The economic ties between the EU and Türkiye continue to be one of the cornerstones of regional cooperation"

EBS Director-General Arnaud Thysen stated that the economic ties between the EU and Türkiye continue to be one of the cornerstones of regional cooperation, saying, "The fact that bilateral trade has reached record levels and Türkiye is the EU's fifth-largest trading partner marks a crucial period for boldly renewing this strategic alliance. The ideas we shape here today may affect the competitiveness and prosperity of our entire region. Your participation in the Summit is a strong sign of our shared commitment to shaping the future of Türkiye and Europe."

At the Summit, panels titled "Customs Union 2.0: Renewing the EU–Türkiye Customs Union for Global Competitiveness," "From Mines to Markets: Building a Greener, Stronger EU–Türkiye Supply Chain," "Innovation in Electric Vehicles and Mobility: Reshaping EU–Türkiye Cooperation in the Automotive Sector," "A Turning Point in the Defense Industry: Redefining EU–Türkiye Cooperation in a Period of Uncertainty," and "Crossing Digital Borders: Unleashing the Potential of a Shared Digital Future for the EU and Türkiye" were held.

Sponsors of the Summit, co-organized by DEİK and EBS, were Turkish Airlines -as the main sponsor- and Balsu, Cengiz Holding, Doğan Holding, Halkbank, Kale Group, Kibar Holding, Sarten, SOCAR Türkiye, Trendyol, Türk Telekom, and Ziraat Bank.

FINLAND-TÜRKİYE ROUNDTABLE MEETING

Foreign Economic Relations Board (DEİK) and Business Finland, organized the Finland-Türkiye Roundtable Meeting in Helsinki on February 26, 2025, with the esteemed participation of the Minister of Trade of the Republic of Türkiye, Prof. Dr. Ömer Bolat, the Minister of Foreign Trade and Development of Finland, Ville Tavio, Deputy Minister of Trade of Türkiye, Mustafa Tuzcu, the Ambassador of Türkiye to Helsinki, Deniz Çakar, the Ambassador of Finland to Ankara, Pirkko Hämäläinen, DEİK President Nail Olpak, DEİK/Türkiye-Finland Business Council Chairperson Evren Dindiren Dönmez, Business Finland COO and Executive Director Risto Vuohelainen, and representatives from the business world. 

Minister of Trade of Türkiye, Prof. Dr. Ömer Bolat, emphasized the importance of diversifying Türkiye's cooperation with the European Union (EU) and its member states, one of Türkiye's most significant trade partners. He stated: "In our meeting, where we evaluated cooperation opportunities between our business communities and in economic, trade, and technological fields, we comprehensively discussed topics such as the Customs Union, green transition, digitalization, defense industry, and entrepreneurship. We firmly believe that updating the Customs Union will significantly contribute to our global cooperation. As Türkiye, we are eager to collaborate with Finland in the fields of contracting and technology, as well as to work together on contracting and infrastructure projects in third countries." 

Bolat also noted that the Reinsurance Cooperation Agreement signed between the official export credit agencies of the two countries, Türk Eximbank and Finnvera, would take the economic and trade partnership a step further. "With this agreement, our companies will have access to more financing tools and will find it easier to secure funding for potential projects in third countries. As Türkiye, we fully support strengthening cooperation between our business communities and establishing new partnerships with Finland. In this regard, we believe that the JETCO Protocol we signed and this meeting will be beneficial for our countries. Together with our public and private sector representatives, we will continue to work with all our efforts to enhance trade and investment relations between Türkiye and Finland," he added. 

Minister of Foreign Trade and Development of Finland, Ville Tavio, highlighted the importance of sustainability, emphasizing the role of green technologies in a sustainable economy. He also underscored the significance of decarbonization efforts, sustainable infrastructure, and the Horizon Europe program in fostering joint activities. 

DEİK President Nail Olpak stated: "Our bilateral trade volume is around $1.8 billion, and we believe it has the potential to increase. However, it is crucial that this growth is not only quantitative but also balanced. Beyond trade, it is important to expand economic and cultural relations into diverse areas, including investments and partnerships. We emphasize the urgent need to modernize the Customs Union, particularly focusing on agriculture, services, and public procurement. In this era where green and digital transformation complement each other, digitalization is a key area where we can enhance cooperation through DEİK's Digital Technologies Business Council. I would also like to highlight the challenges faced by Turkish steel companies due to the EU's quota restrictions. The industrial sectors of both countries are complementary to each other. In addition to construction, energy, and defense, other significant cooperation areas include medical services, information and communication, digital and environmental technologies." 

DEİK/Türkiye-Finland Business Council Chairperson, Evren Dindiren Dönmez, stated: "The two countries share a long-standing partnership built on trust, cooperation, and a commitment to shared progress. Over the years, this relationship has evolved into a strong bridge not only in trade and investment but also in innovation, sustainability, and forward-looking solutions. Established in 1991, the DEİK/Türkiye-Finland Business Council plays a vital role in strengthening economic and trade ties, fostering business cooperation, and taking our bilateral relations to new heights. The Business Council serves as a crucial platform for sustainable economic cooperation by facilitating direct interactions among business communities, promoting constructive dialogue, and encouraging knowledge exchange. We have spearheaded numerous initiatives aimed at deepening economic relations between our countries. The synergy between Türkiye and Finland has the potential to develop revolutionary solutions for environmental protection. As we celebrate the 100th anniversary of diplomatic relations between Türkiye and Finland, we look forward to a partnership defined by sustainability and innovation."

DEİK BEGINNT EINE STRATEGISCHE KOOPERATION ZUM 100. JAHRESTAG DER DIPLOMATISCHEN BEZIEHUNGEN ZWISCHEN DER TÜRKEI UND DEUTSCHLAND

„DEİK beginnt eine strategische Kooperation zum 100. Jahrestag der diplomatischen Beziehungen zwischen der Türkei und Deutschland.

Der vom Außenwirtschaftsrat DEIK organisierte „Türkisch-Deutsche Kooperations-Empfang" fand in Istanbul statt, in Anwesenheit des Vorstands und der Mitglieder des DEIK/Türkei-Deutschland Wirtschaftsrats sowie türkischer und deutscher Geschäftsleute.


Nach dem Besuch des Bundespräsidenten der Bundesrepublik Deutschland, Frank-Walter Steinmeier, in der Türkei vor einigen Monaten und zum 100. Jahrestag der diplomatischen Beziehungen zwischen der Türkei und Deutschland hat DEIK eine strategische Kooperation zwischen der Türkei und Deutschland eingerichtet.

Ein Memorandum of Understanding (MoU) wurde bei dem Empfang unterzeichnet, an dem der ehemalige Bundespräsident der Bundesrepublik Deutschland Christian Wulff, DEIK-Präsident Nail Olpak und Mehmet Ali Yalcindag, der Präsident des DEIK/Türkei-Deutschland Wirtschaftsrats, teilnahmen. Der Präsident des Deutsch-Türkischen Wirtschaftsrates wurde Christian Wulff.

„Die Entwicklung der wirtschaftlichen Zusammenarbeit zwischen den beiden Ländern wird vom Deutsch-Türkischen Wirtschaftsrat vorantreiben", sagt Olpak.

 

Nail Olpak, Präsident der DEIK, drückte seine Freude aus, dass Christian Wulff, der ehemalige Bundespräsident, den Vorsitz des DEIK/Türkei-Deutschland Wirtschaftsrats übernehmen wird. „Die Millionen türkischstämmigen Bürger in Deutschland haben tiefe kulturelle und soziale Bindungen zwischen der Türkei und Deutschland", sagte Olpak. Die Anwesenheit der Türken in Deutschland ist für die Wirtschaft beider Länder gleichermaßen von Bedeutung und hat eine entscheidende Bedeutung für die Entwicklung wirtschaftlicher und handelsbezogener Beziehungen. Unsere Gastarbeiter bringen ungefähr 500.000 Arbeitsplätze in Deutschland hervor, während 100.000 türkische Unternehmen mit einem Jahresumsatz von 50 Milliarden Euro einen bedeutenden Beitrag zur deutschen Wirtschaft leisten. Der Haupthandelspartner der Türkei ist Deutschland in der EU. Im Jahr 2023 belief sich das Handelsvolumen der Türkei mit Deutschland auf 49,7 Mrd. USD.

Die Bedeutung der Türkei liegt in ihrer strategischen Position als Brücke zwischen Europa und Asien, ihrer Zollunionsmitgliedschaft und ihrer Verlässlichkeit. Viele weitere Bereiche der wirtschaftlichen Zusammenarbeit zwischen den beiden Ländern werden vom Deutsch-Türkischen Wirtschaftsrat gefördert: Partnerschaften in Investitionsprojekten, die Chancen für Kooperationen zwischen KMUs und die Zusammenarbeit in Drittländern.

Wulff: „Wir werden intensiv daran arbeiten, neue Investitionen in der Türkei und in Deutschland zu realisieren."

 Bei seiner Ansprache auf dem Empfang drückte Christian Wulff seine Freude darüber aus, an diesem Forum teilzunehmen. Eine großartige Gelegenheit zur Förderung der Wirtschaft und des Handels zwischen unseren Ländern ist die Zusammenarbeit in diesem Forum, das sowohl traditionelle als auch innovative Ansätze für die türkisch-deutschen Beziehungen bietet. Das aktuelle Handelsvolumen von mehr als 50 Milliarden Euro zwischen der Bundesrepublik Deutschland und der Türkei weist ein deutlich höheres Potenzial für eine wirtschaftliche Zusammenarbeit auf. „Als neu gegründeter Wirtschaftsrat zwischen Deutschland und der Türkei wollen wir uns auf Tätigkeiten im Bereich Forschung und Entwicklung, Transformation, bilaterale Investitionen und andere konzentrieren und diese verstärken." Unser Ziel ist es, durch eine gute Kooperation neue Investitionen in die Türkei und Deutschland zu verstärken und den Handel zwischen den beiden Ländern zu fördern. Wir können als Wirtschaftsrat erfolgreicher zusammenarbeiten."

Yalcindag sagte: „Der Deutsch-Türkische Wirtschaftsrat wird die Investitionsbeziehungen zwischen der Türkei und Deutschland stärken und den bilateralen Handelsbeziehungen von über 50 Milliarden Dollar neuen Schwung verleihen."

Mehmet Ali Yalcindag, Präsident des DEIK/Türkei-Deutschland Wirtschaftsrats, betonte, dass Deutschland eine der vier Länder ist, die die größten Investitionen in die Türkei vornehmen. „Insbesondere im Handels- und Wirtschaftsbereich sind die freundschaftlichen Bande zwischen den beiden Ländern, die aus der Geschichte bis in die Gegenwart reichen", sagte er. Das aktuelle Handelsvolumen unserer Länder beläuft sich auf rund 50 Mrd. $, wodurch Deutschland als unser größter Handelspartner gilt. Auch in Bezug auf direkte ausländische Investitionen ist Deutschland eines der vier Länder mit den größten Investitionen in die Türkei. Diese Zahlen könnten durch die von uns angestrebte Kooperation unsere Ziele deutlich übertreffen."

Yalcindag machte deutlich, dass der in Deutschland gegründete Deutsch-Türkische Wirtschaftsrat den bilateralen Handelsbeziehungen neue Impulse geben wird und dass die Türkei Deutschlands größter potentieller Partner ist. „Als DEIK/Türkei-Deutschland Wirtschaftsrat wollen wir die wirtschaftlichen und handelspolitischen Beziehungen zwischen den beiden Ländern auf ein neues Niveau bringen. Wir haben dabei eine neue Strategie ausgearbeitet. Die Türkei und Deutschland werden in dieser Strategie als ein Markt mit 170 Millionen Einwohnern betrachtet. Dabei wird die industrielle und wirtschaftliche Stärke betont. Unsere Prognose für die Zukunft beruht auf der Verbindung der Ressourcen und Stärken beider Länder. Diese Strategie nimmt die Anforderungen beider Länder in Betracht und stützt sich auf die Ergänzung unserer Branchen. „Ich danke Präsident Christian Wulff nochmals für seinen Beitrag zur Erhöhung der Zusammenarbeit auf ein neues Niveau." Mit seinem neuen Amt als Vorsitzender des Deutsch-Türkischen Wirtschaftsrats wird er einen entscheidenden Beitrag zur neuen Vision leisten, die wir erarbeitet haben.

 

DEİK ORGANISED THE SPAIN-TÜRKİYE BUSINESS FORUM IN MADRID

The Spain-Türkiye Business Forum, organised by DEİK, was held on 13 June 2024 in Madrid, the capital of Spain, with the participation of President of the Republic of Türkiye Recep Tayyip Erdoğan, President of the Spanish Government Pedro Sanchez, DEİK President Nail Olpak, President of the Spanish Employers Confederation (CEOE) Antonio Garamendi, Chairperson of the Spain-Türkiye Business Council and BBVA Carlos Torres Vila, Chairperson of the Türkiye-Spain Business Council Ebru Özdemir and business people from both countries. During the forum, a memorandum of understanding was signed between DEİK and the CEOE.

Erdoğan: "Our trade volume increased tenfold and reached 19.2 billion dollars"

Stating that the deep-rooted and strong relations between Türkiye and Spain are fuelled by the courageous and visionary steps taken by the business world, President of the Republic of Türkiye Recep Tayyip Erdoğan said: "The contribution of our esteemed business people is great in defining our relations as a comprehensive partnership since 2021. In recent years, both the Covid-19 pandemic and the conflicts in our neighbouring geography have increased the challenges facing global trade. Our solidarity and cooperation are vital in the face of current challenges.

Our trade volume, which hovered around 2 billion dollars before 2002, reached 19.2 billion dollars last year with a tenfold increase. Thus, we have almost reached our target of 20 billion dollars. I believe that we will carry this volume much further with your valuable contributions by joining hands together. The fact that Spain is the sixth country investing the most in Türkiye with 740 companies and a stock of approximately 11 billion dollars is essentially the result of this approach."

Sanchez: "Türkiye will continue to increase its economic weight and importance in the coming decades"

Pedro Sanchez, President of the Spanish Government, said: "Spain and Türkiye are two countries with the most marvellous relations in every field. The regular organisation of these summits is a very good example of this. Türkiye is a key economic partner for Spain and an important player in its region. "Spanish companies appreciate the improving outlook of the Turkish economy, the courage of the measures taken, the robustness of the economic programme."

Stating that they have always had confidence in Türkiye, Sanchez said, "We have very solid foundations for this. We have always trusted Türkiye. While some others withdrew from Türkiye, we doubled our investments. We have maintained this trust. Türkiye will continue to increase its economic weight and importance in the coming decades. Türkiye and Spain are friendly countries that trust each other and have special relations". Stating that Spain has decided to review the existing Mutual Investment Protection and Development Agreement with Türkiye and that this is very valuable, Sanchez said that "5 memorandums of understanding to be signed between state institutions will further accelerate investments and joint projects in third countries".

DEİK President Nail Olpak said, "I wish that our MoU agreement between DEIK and CEOE will also be auspicious. Türkiye and Spain Intergovernmental Summit Meetings have been held since 2009. In 2021, we welcome the definition of this relationship as "Comprehensive Partnership". Today, we will organise 4 simultaneous panels covering 11 sectors in cooperation with our DEIK counterpart CEOE and hosted by BBVA. I believe that we should develop our existing cooperation in the fields of automotive, iron and steel, agriculture and food, banking and finance, tourism, aviation and defence in new areas. Green and digital transformation, which is of great importance in the construction of our future, is very important both in terms of the steps that need to be taken, the opportunities that these steps will create, and the threats that will occur if the necessary steps are not taken." Stating that Spain supports the digital transformation of SMEs in areas such as artificial intelligence and cloud technology with its Digital 2025 vision, Olpak said, "Türkiye also attaches great importance to digitalisation for SMEs and Digital Türkiye 2030 road map reveals our strategies. Together with our DEIK Digital Technologies Business Council, we would like to do more joint work with representatives of the Spanish business world. At the 12th Spain-Türkiye Digital Platform held yesterday, our companies discussed these issues and an MoU was signed between our Digital Technologies Business Council and the Spanish Digital Economy Association (ADIGITAL). We believe that the modernisation and expansion of the scope of the EU-Türkiye Customs Union Agreement is long overdue and we expect more support from our Spanish friends in this regard."

Following the opening speeches of the Forum, B2B meetings were held with the panels of 'Business-Investment Opportunities and Financing', 'Infrastructure, Mobility and Transport', 'Energy, Environment and Green Transformation' and 'Industry and Technology'.

The sponsors of the forum were Limak Europe, Çimsa Cementos, Türkiye Sigorta, Cerealto, Beldeport, Beyçelik Gestamp, Doğuş Hospitality, Hidromek, Kibar Holding and Uno.

37TH DEİK ORDINARY ELECTIVE GENERAL ASSEMBLY / MASTER PIONEERS AWARDS CEREMONY

The 37th DEİK Ordinary Elective General Assembly and 3rd Master Pioneers Award Ceremony were held in Istanbul on May 25, 2024, with the attendance of our President Recep Tayyip Erdoğan and the participation of the Minister of Trade Prof. Dr. Ömer Bolat, Minister of Youth and Sports Osman Aşkın Bak, and Minister of Industry and Technology Mr. Fatih Kacır and business representatives.

Following the 37th Ordinary Elective General Assembly of DEİK, where the new Board of Directors and Board of Auditors were elected, the Master Pioneers Awards honoured those who have added lasting value to DEİK through their global work in business diplomacy.

At the DEİK Master Pioneers Awards, organized for the third time this year, TOBB President Rifat Hisarcıklıoğlu and leading figures of the Turkish business world honoured the late businessmen Şarık Tara, Ali Osman Ulusoy, and Ahmet Şahap Ünlü.