403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Türkiye, Belgium Push for Expanded Trade, Investment Cooperation
(MENAFN) Officials from Türkiye and Belgium have signaled a shared interest in strengthening economic and investment relations during a business forum held in Istanbul on Monday.
The meeting, organized by Türkiye’s Foreign Economic Relations Board (DEIK), brought together senior officials and a high-level Belgian delegation, including Queen Mathilde of Belgium. Discussions focused on expanding cooperation in key sectors such as technology, green energy transition, defense industries, and logistics.
Participants also emphasized the strategic importance of updating the EU–Türkiye Customs Union framework, highlighting Türkiye’s growing role as a regional production and logistics hub serving European markets.
Türkiye’s Trade Minister Ömer Bolat described the visit as one of the largest international delegations received by the country in recent years. He stressed that strengthening reliable economic partnerships has become increasingly important amid global supply chain disruptions and geopolitical uncertainty.
According to officials, bilateral trade between Türkiye and Belgium reached approximately $9.3 billion last year, with both sides setting a target of $15 billion in a more sustainable and balanced trade structure.
Bolat also underscored the need to reinforce the legal and institutional framework governing investment flows between the two countries. Proposed measures include agreements on investment protection, investment promotion, and avoidance of double taxation, aimed at improving transparency and investor confidence.
Belgian investment in Türkiye currently stands at nearly $5 billion, while Turkish investment in Belgium is estimated at around $750 million. Officials noted that Turkish companies are increasingly active in Belgium, particularly in sectors such as logistics, manufacturing, defense, retail, and advanced technologies.
The Turkish side also highlighted the country’s large logistics market, estimated at more than $150 billion, as a key area for future expansion and cooperation.
The meeting, organized by Türkiye’s Foreign Economic Relations Board (DEIK), brought together senior officials and a high-level Belgian delegation, including Queen Mathilde of Belgium. Discussions focused on expanding cooperation in key sectors such as technology, green energy transition, defense industries, and logistics.
Participants also emphasized the strategic importance of updating the EU–Türkiye Customs Union framework, highlighting Türkiye’s growing role as a regional production and logistics hub serving European markets.
Türkiye’s Trade Minister Ömer Bolat described the visit as one of the largest international delegations received by the country in recent years. He stressed that strengthening reliable economic partnerships has become increasingly important amid global supply chain disruptions and geopolitical uncertainty.
According to officials, bilateral trade between Türkiye and Belgium reached approximately $9.3 billion last year, with both sides setting a target of $15 billion in a more sustainable and balanced trade structure.
Bolat also underscored the need to reinforce the legal and institutional framework governing investment flows between the two countries. Proposed measures include agreements on investment protection, investment promotion, and avoidance of double taxation, aimed at improving transparency and investor confidence.
Belgian investment in Türkiye currently stands at nearly $5 billion, while Turkish investment in Belgium is estimated at around $750 million. Officials noted that Turkish companies are increasingly active in Belgium, particularly in sectors such as logistics, manufacturing, defense, retail, and advanced technologies.
The Turkish side also highlighted the country’s large logistics market, estimated at more than $150 billion, as a key area for future expansion and cooperation.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment