Economic partnership deal with Japan under negotiation

TOKYO

A Türkiye-Japan economic partnership agreement seeking to reduce the imbalance in bilateral trade is still under negotiation, Trade Minister Ömer Bolat has said.

Attending a Türkiye-Japan CEO Round Table Meeting in the capital Tokyo on April 24, he said: "We believe that the agreement will be a strategic tool for diversifying and balancing trade, increasing investments, and establishing 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 sides and paves the way for new opportunities," he added.

He said Türkiye has proven itself as a “regional center” in production and logistics with access to markets such as Europe, Asia, and Africa, adding that the two countries’ trade volume last year reached $5.4 billion.

Türkiye welcomed the 11.4 percent increase in Türkiye's exports to Japan last year, Bolat said, but added that the structural imbalance in trade is still an important problem.

The countries are determined to eliminate this imbalance and create a more sustainable trade structure, he stressed.

In Tokyo, he met with Land, Infrastructure, Transport and Tourism Minister Nakano Hiromasa.

They reaffirmed their commitment to deepening cooperation in transportation, infrastructure and projects carried out in third countries based on a long-term partnership vision and sustainable development goals, Bolat said in a post on X.