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Minister Bolat outlines Türkiye's economic vision for deeper Japan co-op in key sectors

27 February 2025 23:00 (UTC+04:00)
Minister Bolat outlines Türkiye's economic vision for deeper Japan co-op in key sectors

At a reception held on Japan's National Day in a hotel, Minister of Trade Ömer Bolat emphasized that despite Turkiye and Japan being at opposite ends of Asia, they are two close friends and allied nations with hearts that are connected. Bolat recalled that in 2013, Turkiye and Japan elevated their relations to the level of strategic partnership as a reflection of their mutual commitment to cooperation. "At the core of our strategic partnership is our efforts to enhance and deepen our bilateral relations in various fields, such as trade, science, technology, energy, and disaster management," he said.

In today’s context, where global and regional challenges are increasingly intertwined, Bolat noted the importance of countries with shared approaches to world affairs working in close cooperation. "Given the rising threats we face, it has become more crucial for nations with similar perspectives on global issues to form powerful alliances and work together," he added.

Bolat reiterated Turkiye's commitment to increasing cooperation with Japan, noting that in today’s world, economic cooperation is one of the strongest determining factors in international relations. He highlighted that the trade volume between Turkiye and Japan, which stood at $3.8 billion in 2014, is set to reach nearly $5.5 billion by 2024. "In addition to Turkish Airlines increasing its flights to Japan, we also see the significance of Japan's All Nippon Airways starting its first-ever direct flights to Istanbul last week," he said.

Bolat also emphasized that the 257 Japanese companies operating in Turkiye, with a total investment of $3.1 billion, demonstrate Japan's confidence in Turkiye and its long-term vision for cooperation. "Considering that Japan’s total direct foreign investments exceed $2 trillion, we believe Turkiye should secure a larger share of these investments," he remarked.

Bolat expressed his belief that the Economic Partnership Agreement currently under negotiation between Turkiye and Japan will be a strategic tool for diversifying trade, making it more balanced, and boosting investments. He pointed out that Turkiye’s strong manufacturing infrastructure, innovative technology ecosystem, and strategic position as a logistics hub between Asia and Europe offer significant opportunities for Japanese investors.

The Turkish Minister identified energy, infrastructure, renewable resources, automotive, healthcare, and advanced technologies as key areas where Turkiye aims to further enhance its cooperation with Japan. "Our primary goals include advancing collaboration in these sectors to make the most of the opportunities they present," he said.

Bolat pointed to successful contracting projects in Africa, Central Asia, and the Middle East as excellent examples of how partnerships between Turkish and Japanese companies can create value on a global scale. He expressed confidence that cooperation between the two nations in the reconstruction of Ukraine and Syria could lead to significant projects in those regions.

The Minister also reminded the audience that EXPO 2025 will begin in Osaka, Japan, on April 13th. "Turkiye will represent itself at the EXPO with a 900-square-meter pavilion under the theme 'Heyday of Civilizations,'" Bolat said. This theme underscores Turkiye’s historical role as a crossroads of diverse cultures and civilizations, from Göbeklitepe to the Seljuk Empire, the Ottoman Empire, the Hittites, the Huns, and the modern Turkish Republic.

Bolat also announced that Turkiye’s National Day at EXPO 2025 will coincide with the National Sovereignty and Children’s Day on April 23, 2025. He emphasized that the participation of Turkish and Japanese children in designing the future together will send a powerful message aligned with the spirit of EXPO.

Reflecting on the deep historical ties between the two nations, Bolat concluded, "Over the past century, we have strengthened our relations based on mutual trust and friendship. Our main goal for the future is to expand these bonds, which are already highly developed in political and cultural spheres, into the economic and commercial realms."

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