Turkey and Greece have embarked on an ambitious journey to nearly double their bilateral trade, setting a goal to escalate it to $10 billion from a $5.8 billion benchmark reported for 2023. This initiative, revealed during the Turkish-Greek Economic Forum in Istanbul, orchestrated by the Turkish Foreign Economic Relations Board (DEIK), marks a significant thaw in relations between these historically competitive neighbors.
Turkish Deputy Trade Minister Mustafa Tuzcu spotlighted the strategic importance of deepening ties, articulating a vision of unity and collaboration. “We are neighbors, friends and allies with Greece. We need to use the time well, we need to close the trade deficit,” Tuzcu articulated, signaling a proactive approach to economic cooperation.
The path to this ambitious trade volume encompasses the execution of 15 agreements across various sectors, demonstrating proactive measures towards economic amalgamation. The declaration of friendship signed by Greek Prime Minister Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdoğan on December 7 in Athens catalyzed this cooperative venture, symbolizing a new chapter in bilateral engagements.
Parallel to the forum, the Turkey-Greece Joint Economic Commission (JEC)’s 6th assembly unfolded, culminating with the JEC protocol endorsement. This forum facilitated exhaustive discussions spanning critical sectors such as energy, agriculture, transportation, industry, customs, tourism, and social security, where initiatives for enriched economic collaboration were agreed upon.
Notable endeavors include forging a new electricity interconnector to ensure safer, more sustainable transmission, erecting a second bridge at the Kipi-İpsala border to streamline goods and people movement, and bolstering small and medium-sized enterprises (SMEs) cooperation between the nations.
Additionally, the Turkish Standards Institute’s commitment to collaborate with Greek counterparts on standardization and the arrangement for the ’10th Turkish-Greek Tourism Forum’ underscore the multifaceted approach to fostering tourism and cultural exchanges. Greece’s visa facilitation for Turkish tourists visiting the Aegean Sea islands from March 1 aims to enhance interpersonal connections and cultural diplomacy.
Greek Deputy Foreign Minister Kostas Fragogiannis stressed the strategic value of collaborative projects in investment, trade, tourism, and construction as keystones for fortified cooperation. He acknowledged the constructive atmosphere in Greek-Turkish relations and advocated for persistent dialogue to navigate differences.
Fragogiannis also underscored the broader significance of enhanced bilateral relations, advocating for a joint front to tackle global and regional challenges, including climate change and regional conflicts. The enriched partnership between Turkey and Greece not only foresees economic prosperity but also aligns with regional stability and prosperity objectives, signifying a pivotal stride in regional diplomacy and cooperation.
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