ANKARA: Trkiye’s trade volume with Japan, one of its target countries for increased exports, rose 49% in 2019-2023 from $4.1 billion to $6.1 billion, as Trkiye aims to boost its exports to Japan via its current strategy.

Trkiye’s exports to Japan between 2019 and 2023 rose from $503 million to $645 million, according to official figures compiled by Anadolu.

Trkiye’s goal is to reach $10 billion in bilateral trade volume with Japan in the short term.

The average amount of foreign direct investments (FDI) from Japan to Trkiye in 2002-2023 reached $152 million. Last year alone, approximately $3.5 million was invested in Trkiye from Japan, making up a large portion of Japan’s FDI in the Middle East and Eastern Europe.

More than 250 Japanese firms operate in Trkiye, in sectors such as wholesale and retail trade, hotels and restaurants, construction, and more. The direct investments of these firms have so far reached $3.5 billion.

As for growing trade ties, the 27th Trkiye-Japan Joint Economic Commission meeti
ng will be held in Tokyo on Thursday, with Deputy Trade Minister Mustafa Tuzcu leading the Turkish delegation.

Tuzcu told Anadolu that Japan is one of Trkiye’s major trade and investment partners, and technology-based joint projects are notable both domestically and internationally.

‘Our top priority is to establish a sustainable structure that is open to development, one which both countries can gain from while carrying out our trade relations,’ said Tuzcu.

‘Both Trkiye and Japan’s existing products need to be sold in higher volumes, and Trkiye’s value-added products need to be brought to the Japanese market to balance bilateral trade to acceptable levels, and we attach great importance to the Trkiye-Japan Economic Partnership Agreement, which will allow Turkish products to enter the Japanese market easily,’ he added.

Tuzcu stressed that trade with Japan should expand to technology transfers, as Trkiye ‘has a lot to learn from Japan’ in terms of artificial intelligence and digital transformation, making
the country an important business partner for high-tech products and investment opportunities.

Source: Anadolu Agency

ANKARA: Trkiye’s trade volume with Japan, one of its target countries for increased exports, rose 49% in 2019-2023 from $4.1 billion to $6.1 billion, as Trkiye aims to boost its exports to Japan via its current strategy.

Trkiye’s exports to Japan between 2019 and 2023 rose from $503 million to $645 million, according to official figures compiled by Anadolu.

Trkiye’s goal is to reach $10 billion in bilateral trade volume with Japan in the short term.

The average amount of foreign direct investments (FDI) from Japan to Trkiye in 2002-2023 reached $152 million. Last year alone, approximately $3.5 million was invested in Trkiye from Japan, making up a large portion of Japan’s FDI in the Middle East and Eastern Europe.

More than 250 Japanese firms operate in Trkiye, in sectors such as wholesale and retail trade, hotels and restaurants, construction, and more. The direct investments of these firms have so far reached $3.5 billion.

As for growing trade ties, the 27th Trkiye-Japan Joint Economic Commission meeti
ng will be held in Tokyo on Thursday, with Deputy Trade Minister Mustafa Tuzcu leading the Turkish delegation.

Tuzcu told Anadolu that Japan is one of Trkiye’s major trade and investment partners, and technology-based joint projects are notable both domestically and internationally.

‘Our top priority is to establish a sustainable structure that is open to development, one which both countries can gain from while carrying out our trade relations,’ said Tuzcu.

‘Both Trkiye and Japan’s existing products need to be sold in higher volumes, and Trkiye’s value-added products need to be brought to the Japanese market to balance bilateral trade to acceptable levels, and we attach great importance to the Trkiye-Japan Economic Partnership Agreement, which will allow Turkish products to enter the Japanese market easily,’ he added.

Tuzcu stressed that trade with Japan should expand to technology transfers, as Trkiye ‘has a lot to learn from Japan’ in terms of artificial intelligence and digital transformation, making
the country an important business partner for high-tech products and investment opportunities.

Source: Anadolu Agency