Breaking: President Erdoğan Arrives in Italy Amid Visa Discussions Impacting Economic Relations
Türkiye-Italy Business Forum: President Erdoğan Highlights Economic Ties and Future Goals
In a recent address at the Türkiye-Italy Business Forum, President Recep Tayyip Erdoğan acknowledged the significant strides made in economic cooperation between Türkiye and Italy, expressing his gratitude to Italian Prime Minister Giorgia Meloni for her hospitality and support. Erdoğan lauded the recent forum as pivotal in enhancing both the economic landscape and the multifaceted political relationship between the two nations.
Strengthening Economic Partnerships
Erdoğan emphasized the vital role played by the business communities in both countries, stating, “The initiatives of our esteemed business people also played a major role in this success.” He expressed his firm belief that this partnership would advance even further in the coming years.
Highlighting the global economic climate, Erdoğan remarked on the rising tide of protectionism and inward-looking policies. He outlined Türkiye’s commitment to overcoming these challenges by fostering mutual cooperation through streamlined customs processes. “We are striving to transform this dynamic atmosphere into opportunities for our economy,” he noted.
Trust in the Turkish Economy
Reflecting on past challenges, including the coronavirus pandemic, Erdoğan reassured attendees of his confidence in the Turkish economy, citing a commitment to effective economic and commercial partnerships that bridge East and West, as well as North and South.
Despite facing numerous adversities in 2023—most notably the devastating earthquake—Erdoğan underscored the resilience of the Turkish economy. The earthquake’s toll has reached a staggering $254 billion in damages, yet Türkiye is committed to recovery, having already delivered over 201,000 housing units to those affected, with plans for an additional 252,000 by year-end.
He proudly shared that Türkiye’s export figures are set to reach record highs, with projections of $262 billion in 2024 and defense industry exports surpassing $7 billion.
Ambitious Trade Goals
Erdoğan pointed out that Türkiye’s exports have increased over 20-fold in the last two decades, and the country has received nearly $270 billion in foreign direct investment. In terms of bilateral relations, Türkiye’s trade with Italy has significantly surged, rising from $17.3 billion in 2020 to over $32 billion in 2024.
Setting ambitious targets, Erdoğan announced a new trade volume goal of $40 billion between Türkiye and Italy. He expressed optimism that ongoing business negotiations would play a crucial role in achieving this target. Erdoğan aims to bolster mutual investments, encouraging more Italian enterprises to establish operations in Türkiye, which has rapidly become an attractive investment destination.
Strategic Collaborations Ahead
Erdoğan urged closer cooperation in innovative sectors such as green energy, digital technologies, and smart cities, emphasizing the need for strategic partnerships to harness growth in these areas. Government support for businesses will remain steadfast, but he called on entrepreneurs to step up and drive collaborative efforts.
In addressing the challenges posed by visa complications, Erdoğan asserted the importance of updating the European Union and Customs Union frameworks to better facilitate trade and investment, advocating for dialogue among Italian business circles and EU institutions.
As Türkiye and Italy continue to cultivate their economic relationship, Erdoğan’s messages reflect a clear vision for mutual success, driven by cooperation and shared goals.
