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Türkiye and Japan sign deal to boost trade, investment

With 100-year-old trust-based relations, the two countries aim to increase economic relations to the level of strategic partnership, says Japanese minister.

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2024 will mark the 100th anniversary of Türkiye and Japan's diplomatic relations. / Photo: AA

Türkiye and Japan have signed a cooperation agreement to promote trade, investment and economic partnership.

The agreement, signed by trade ministers in Istanbul on Tuesday, included holding a trade and investment summit, accelerating economic partnership, and expanding cooperation in third countries.

Omer Bolat, the Turkish trade minister, said the summit is planned to be organised in Tokyo soon.

Before the signing ceremony, Bolat and the Japanese minister of economy, trade and industry Yasutoshi Nishimura discussed economic relations between the two countries, the Turkish minister said.

The Japanese minister said parties aim to increase economic relations to the level of strategic partnership.

We met with H.E. Yasutoshi Nishimura, the Minister of Economy, Trade, and Industry of Japan.

We signed a Joint Declaration aimed at further strengthening and deepening the cooperation between our countries in the areas of trade, investment, and economic collaboration, as the… pic.twitter.com/ZMCiu2pvQ0
— Prof. Dr. Ömer Bolat (@omerbolatTR) September 5, 2023

Firms gather in Istanbul

Also on Tuesday, Turkish and Japanese firms gathered in Türkiye’s metropolitan Istanbul to strengthen economic relations between the two countries.

The Türkiye-Japan Business Forum was jointly organised by the Japan External Trade Organization (Jetro), the Turkish Trade Ministry, and Japan's Ministry of Economy, Trade and Industry, which had the theme "New Collaborations in the next 100 years."

"So far, there has been no significant conflict in the relations between the two countries, and the relationship has always been built on respect," Bolat noted at the one-day event.

The event will foster long-term and mutually beneficial relationships between Japanese and Turkish businesses, he stressed.

Nishimura, for his part, said Türkiye and Japan have 100-year-old trust-based relations.

Türkiye is a gateway for Japan to the Middle East, the minister said, adding that around 280 Japanese firms are active in Türkiye and the number will continue to increase.

The head of Jetro, Kazushige Nobutani, said his institution is trying to boost Türkiye and Japan's economic relations by organising a number of events, including seminars for Japanese firms.

Recalling that 2024 will mark the 100th anniversary of Türkiye and Japan's diplomatic relations, he said economic and cultural relations will grow significantly in the new century.