Türkiye, Greece look to higher trade volume

Economy
Sat, 3 Feb 2024 8:28 GMT
Cooperation may improve thanks to projects in trade, tourism, says Greek minister.
Türkiye, Greece look to higher trade volume

Türkiye and Greece's bilateral trade volume hit $5.8 billion in 2023 but the two countries target $10 billion, officials said Friday.

"We are neighbors, friends and allies with Greece. We need to use the time well, we need to close the trade deficit." Turkish Deputy Trade Minister Mustafa Tuzcu said at the Türkiye-Greece Business Forum in Istanbul, organized by Türkiye's Foreign Economic Relations Board (DEIK).

Noting President Recep Tayyip Erdogan's visit to Athens seven years ago to prepare the political ground for encouragement and reinforcement, Tuzcu said: "This visit reflected the will of our leaders. After seven years, 15 agreements were signed in various fields. We are confident that we will reach the $10 billion bilateral trade volume target."

Tuzcu's Greek counterpart, Kostas Fragogiannis, said cooperation can be strengthened with joint projects in investments, trade and the tourism and building sectors.

Both countries are working to achieve that goal. Greek Prime Minister Kyriakos Mitsotakis and Erdogan signed the declaration of friendship and good neighborliness in Athens on Dec. 7, he said.

Agreement

As part of the Forum, the Türkiye-Greece Joint Economic Commission (JEC) 6th Term Meeting was also held and the JEC Protocol was signed.

In the JEC meeting, views were exchanged on energy, transportation, industry, agriculture, customs, tourism and social security.

It was emphasized that a more secure and sustainable electricity transmission infrastructure will be established between the two countries with a new interconnection line established.

The importance of joint steps to be taken by the two countries on environment, agriculture, forestry and water in the fight against climate change. In transportation and customs, the second bridge to be built at the Kipi-Ipsala Border Gate will carry cooperation in freight and passenger transportation forward.

In industry, it was agreed to develop cooperation between small and medium enterprises of the two countries.

Within the scope of standardization, it was pointed out that the Turkish Standards Institute is ready to cooperate with its Greek counterparts.

It was also stated that the Turkish side is ready to share information and experience on organized industrial zones, and it was decided to organize the "10th Turkish Greek Tourism Forum" in the future to develop cooperation in tourism.

The Greek side said visa facilitation for Turkish tourists who will visit the Greek islands in the Aegean will start March 1.

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