Minister Ömer Bolat: The Economic Partnership Agreement between Turkey and Japan is Under Negotiation
Minister of Trade Ömer Bolat stated that the Economic Partnership Agreement (EPA) between Turkey and Japan is currently under negotiation, adding, "We believe that the agreement will be a strategic tool for diversifying and balancing trade, increasing investments, and establishing a genuine 'win-win' partnership."
Minister Bolat participated in the “Turkey-Japan CEO Roundtable Meeting” held in Tokyo as part of EXPO 2025 Osaka.
Speaking at the meeting attended by representatives of the business communities of both countries, Bolat reminded that this year marks the 101st anniversary of diplomatic relations between Turkey and Japan. He emphasized that Turkey and Japan complement each other, noting that Japan is one of the world’s leading players in innovation, advanced technology, and precision engineering.
Turkey-Japan Trade Volume Reaches $5.4 Billion
Bolat underlined that Turkey has proven itself as a regional hub for production and logistics, thanks to its access to markets in Europe, Asia, and Africa. He stated that the trade volume between the two countries reached $5.4 billion as of last year.
He expressed satisfaction with the 11.4% increase in Turkey’s exports to Japan last year, but pointed out that a structural imbalance in trade still remains a significant issue. Emphasizing their commitment to resolving this imbalance and creating a more sustainable trade structure, Bolat said:
"The Turkey-Japan Economic Partnership Agreement, which lies at the heart of this effort, is still under negotiation. We believe the agreement will be a strategic tool for diversifying and balancing trade, increasing investments, and building a true 'win-win' partnership. As we approach the final stages of the negotiations, we are confident that we will find common ground that respects the sensitivities of both sides and paves the way for new opportunities."
"We Invite Japanese Investors to Invest More in Our Country"
Bolat noted that Japanese companies have made over $3.1 billion in direct investments in the Turkish economy, with 275 Japanese companies currently operating in Turkey.
He expressed pride in hosting many globally recognized Japanese firms in sectors ranging from automotive to energy, chemicals to food processing. However, he also stated:
"It is with regret that I must note Turkey's share in Japan's global direct foreign investment portfolio, which exceeds $2 trillion, remains as low as 0.11%. Therefore, we invite Japanese investors to explore the growing potential of our country and to invest more in strategic areas such as manufacturing, green and clean energy, the electric vehicle ecosystem, digital industries, smart cities, infrastructure, and transportation.
On the other hand, we also see a significant opportunity for cooperation in contracting projects carried out in third countries. Post-conflict reconstruction, infrastructure development, and climate-resilient investments in Africa, Central Asia, the Middle East, and Ukraine offer important prospects."
Bolat emphasized that Turkish and Japanese companies have achieved remarkable success in prestigious projects such as the Dubai Metro, New Doha International Airport, and Hamad Airport Expansion Project.
Drawing attention to the role of Japanese companies in Turkey’s infrastructure projects, Bolat added:
“The Bosphorus Bridges, the Marmaray Tunnel, and the ongoing rehabilitation works on the Fatih Sultan Mehmet Bridge are just a few examples of Japan's lasting contributions to our country's development.”
He also called on the Turkish business community to deepen cooperation between the two countries and to create new joint ventures.