Relationships progressing with intelligence, friendship and trust
When looking at the timeline, we can see that Türkiye-Italy economic and commercial relations dates back to the 14th century.
The trade closeness of the two countries, which started with the close commercial relations established with the Genoese and Venetian Republics during the Ottoman period, still maintains its vitality today.
The structures of these two important countries of the Mediterranean basin, which complement each other and are based on the production and export of the manufacturing industry, create a suitable basis for the development of commercial relations. The fact that Germany ranks first in imports and exports of both countries is more than a pleasant coincidence, it has similar structural features.
Italy has been Europe's 2nd and the world's 6th largest producer in the manufacturing sector for the last 30 years, and the 5th country in the world with a trade surplus in manufacturing sector exports.
Italy, ranked as the 8th largest economy in the world, is seen as a polar country by Turkish exporters and industrialists today, when supply chains are being restructured. Italy's export performance, especially after the 2008 global crisis, inspired many other countries as well as Türkiye. Italy managed to increase the share of exports in GDP, which was 19% in 2009, to 32.6% in 2023.
Türkiye has always found Italy next to it in its tiring and troublesome journey to the EU, which started in the middle of the last century during the European Economic Community (EEC) period and became institutionalized with the Customs Union in 1992. In this process, Italy was one of the countries that supported Türkiye’s EU membership. Its proximity to Italy and the fact that it is an important center for entering neighboring markets make Türkiye an important investment and trade partner for Italy. The annual trade volume between the two countries has exceeded 26 billion dollars and the target of 30 billion dollars is expected to be reached within a few years.