Minister Bolat: The Turkey-Japan Economic Partnership Agreement is in the negotiation phase
Minister of Trade Ömer Bolat stated that the Turkey-Japan Economic Partnership Agreement (EPA) is still in the negotiation phase, adding, “We believe the agreement will be a strategic tool for establishing a true win-win partnership.”
Minister Bolat participated in the Turkey-Japan CEO Roundtable Meeting held in Tokyo as part of preparations for Expo 2025 Osaka.
Speaking at the meeting, which brought together business representatives from both countries, Bolat noted that this year marks the 101st anniversary of diplomatic relations between Turkey and Japan. He emphasized that the two countries complement each other well, noting that Japan is a global leader in innovation, advanced technology, and precision engineering.
Bolat highlighted Turkey’s proven role as a "regional hub" for production and logistics, thanks to its access to markets in Europe, Asia, and Africa, and reported that bilateral trade between Turkey and Japan reached $5.4 billion as of last year.
He expressed satisfaction with the 11.4% increase in Turkish exports to Japan recorded last year but pointed out that a structural trade imbalance still remains an important issue. He emphasized Turkey’s determination to address this imbalance and to build a more sustainable trade structure, stating:
“At the heart of this effort is the Turkey-Japan Economic Partnership Agreement, which is still in the negotiation phase. We believe this agreement will be a strategic tool to diversify and balance trade, increase investments, and establish a true win-win partnership. As we approach the final stages of negotiations, we are confident that we will find common ground that respects the sensitivities of both parties and paves the way for new opportunities.”
"We Invite Japanese Investors to Increase Their Investments in Our Country"
Minister Bolat noted that Japanese companies have made over $3.1 billion in direct investments in the Turkish economy, with 275 Japanese firms currently operating in Turkey.
Expressing pride in hosting globally recognized Japanese companies in sectors ranging from automotive and energy to chemicals and food processing, Bolat continued:
“I regret to say that Turkey’s share in Japan’s global direct investment portfolio of over $2 trillion remains at a mere 0.11%. Therefore, we invite Japanese investors to discover the growing potential of our country and to invest more in strategic sectors 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 significant potential for cooperation in contracting projects in third countries, especially in post-conflict reconstruction, infrastructure development, and climate-resilient investments. Regions such as Africa, Central Asia, the Middle East, and Ukraine offer substantial opportunities in this regard.”
Bolat pointed to the success achieved by Turkish and Japanese firms in prestigious projects like the Dubai Metro, New Doha International Airport, and the Hamad International Airport Expansion Project.
He also highlighted the involvement of Japanese firms in major Turkish infrastructure projects:
“The Bosphorus bridges, the Marmaray Tunnel, and the ongoing rehabilitation works on the Fatih Sultan Mehmet (FSM) Bridge are just a few examples of Japan’s lasting contributions to Turkey’s development.”
Minister Bolat concluded by calling on Turkish business leaders to further deepen bilateral cooperation and to establish new joint ventures with Japanese partners.