Turkey, Finland sign Joint Economic and Trade Committee agreement

Turkish Economy Minister Nihat Zeybekci and Finland's Foreign Trade Minister Lenita Toivakka have signed a Joint Economic and Trade Committee agreement intended to boost bilateral trade and investment.

Speaking at the signing ceremony Feb. 4, Zeybekci said Turkey plans to make investments worth at least $300 billion over the next decade and urged Finnish companies to increase their investment in Turkey.

Turkey has attracted foreign direct investment worth about $140 billion, according to figures provided by the minister during the ceremony. "Overall, Finland's direct investment in Turkey is approximately $300 million. We are inviting Finnish investors to Turkey." Zeybekci said.

Toivakka said the new agreement is a critical step in boosting cooperation and trade ties between the two countries.

Both Turkey and Finland recognize that small- and medium-sized enterprises are important elements of the economy. Toivakka noted the importance of cooperation between smaller companies in each country.