Trade minister urges cooperation on critical minerals, green finance

ANTALYA

Trade Minister Ömer Bolat called for stronger cooperation on critical mineral supplies and affordable financing to support the green transition at the COP31 climate summit in Antalya on Nov. 13.

Speaking at a panel organized by the Trade Ministry and the World Trade Organization, Bolat said growing demand for materials used in renewable energy technologies, batteries and electric vehicles was exposing supply chain vulnerabilities.

“We must therefore establish diversified and reliable supply chains, facilitate trade in environmental goods and clean technologies,” he said.

Bolat said regulatory cooperation and access to technology would be insufficient without investment, particularly for developing economies and small businesses facing higher capital costs.

He urged international financial institutions, governments and businesses to provide affordable financing, support technology transfers and strengthen production capacity.

Common standards and cross-border recognition of digital emissions data, certificates and trade documents could also reduce costs, he added.

At a separate ministerial meeting of the Organization of Turkic States (OTS), Bolat called for closer cooperation on emissions monitoring, product carbon footprints, green certification and digital traceability.

The meeting was the first held by ministers under the organization’s Climate, Innovation, Green Economy and Trade Partnership.

Bolat said the Antalya Ministerial Declaration signed that day aimed to turn cooperation into practical action.

Türkiye was ready to share its experience, he said, noting that preparations were underway for the pilot phase of its national emissions trading system.

Its green taxonomy, which identifies environmentally sustainable economic activities, was also helping facilitate access to financing.

Bolat said the Turkic Investment Fund would support joint projects in renewable energy, energy efficiency and the green economy.

OTS Secretary General Mirvokhid Azimov said the fund, which has $600 million in capital, had begun supporting businesses and infrastructure projects while facilitating trade and investment among member countries.