Industry in Turkey

Istanbul hosted the Türkiye-Saudi Arabia Business Forum on Sunday, bringing together business leaders from both countries to strengthen economic collaboration.

The Türkiye-Saudi Arabia Business Forum, organized by the Foreign Economic Relations Board of Türkiye (DEIK), saw high-level officials from both countries painting a rosy picture of future collaborations.

The U.K. ambassador to Ankara, Jill Morris, commended Türkiye's healthcare sector as "very robust" on Thursday, highlighting the potential for collaboration between the U.K. and Türkiye.

Her comments came during an event hosted by the Turkish Foreign Economic Relations Board (DEIK), the Health Business Council, and the U.K. Consulate General in Istanbul.

China's Belt and Road Initiative may have an adverse impact on Türkiye as Turkish companies could face significant losses in their European export markets, warns Nail Olpak, the president of the Foreign Economic Relations Board (DEİK).

China is seeking to have quick and fast access to a rich market, Olpak told a group of journalists in his hometown Burdur.

 President Recep Tayyip Erdoğan has declared a remarkable leap in Türkiye's export performance, emphasizing that what the country exported in a week in 2002, it now exports in a single day.

Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has called on U.S. investors to invest more in Türkiye.

Deputy Foreign Minister Kostas Fragogiannis stressed Friday that Greece and Turkey aim to double their trade.

"Today [bilateral] trade is in the range of €5.4 billion and our target is to reach €10 billion," he told state broadcaster ERT after his two-day visit to Istanbul, as part of the contacts of the 2024 positive agenda cycle for Greek-Turkish exchanges.

The Foreign Economic Relations Board (DEİK) will be lobbying for the modernization of the customs union between Türkiye and the European Union, says Nail Olpak, the president of DEİK.

The upcoming elections for EU Parliament pose a risk as the elections may slow down the process, Olpak told a group of journalists in Istanbul.

A high-level business delegation from the Federation of Indian Chambers of Commerce and Industry (FICCI) is on a visit to Türkiye to hold talks in Istanbul and İzmir on Dec. 18-20.

The delegation comprises representatives of sectors such as health care, ICT, food, electric vehicles, defense, drones and engineering, the Consulate General of India said in a statement.

Türkiye's leading business associations have welcomed the government's new medium-term program, as they expect the economic roadmap to increase predictability.

The new medium-term program, which covers 2024-2026, outlines a comprehensive strategy aimed at reducing inflation, fostering growth and addressing various key challenges.

Türkiye and Saudi Arabia may boost the bilateral trade volume to $30 billion in the medium and long term, Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has said.