Tur­key, Nether­lands tar­get ini­tial $10B trade vol­ume

Dünya Executive - - BUSINESS -

The Turk­ish-Dutch Joint Eco­nomic and Trade Com­mit­tee (JETCO) met in the Turk­ish cap­i­tal Ankara last week. Speak­ing at the event, Tur­key and the Nether­lands said their ini­tial aim is to in­crease their trade vol­ume to $10 bil­lion, up from the cur­rent level of $8 bil­lion, said Tur­key’s trade min­is­ter Ruh­sar Pek­can. Trade and eco­nomic ties be­tween the two coun­tries had picked up mo­men­tum af­ter a pause, she added.

“We signed a me­moran­dum of un­der­stand­ing with the Nether­lands, pri­or­i­tiz­ing fields such as bi­lat­eral in­vest­ments, stan­dard­iza­tion, en­ergy, trans­port, smart and green cities, the re­cy­cling economy, sci­ence, in­no­va­tion, and women’s en­trepreneur­ship,” said Pek­can.

At the meet­ing, Tur­key’s Sci­en­tific and Tech­no­log­i­cal Re­search Coun­cil (TUBITAK) and the Nether­lands Or­ga­ni­za­tion for Sci­en­tific Re­search signed a let­ter of in­tent to co­op­er­ate in the fields of sci­ence and in­no­va­tion.

Top in­vestor, trad­ing part­ner

Tur­key is de­ter­mined to main­tain close re­la­tions with the Nether­lands, as shar­ing know-how in tech­nol­ogy and in­no­va­tion would be beneficial, said Pek­can.

Dutch For­eign Trade and De­vel­op­ment Co­op­er­a­tion Min­is­ter Si­grid Kaag, for her part, un­der­lined that the Nether­lands is the num­ber one in­vestor in Tur­key and one of its top ten trad­ing part­ners. “The Nether­lands is the gate­way to Europe, and JETCO hope­fully opens new doors, cer­tainly new part­ner­ships,” said Kaag.

She said that she and Pek­can dis­cussed ways to ad­vance co­op­er­a­tion through in­no­va­tion, achieve sus­tained de­vel­op­ment goals through trade, build­ing an in­clu­sive economy, and tack­ling sustainabl­e pro­duc­tion chains and women’s en­trepreneur­ship. Say­ing that ties be­tween the two coun­tries have grown stronger of late, Kaag said: “One of the pos­si­bil­i­ties we see are health and tech ecosys­tems.”

“The Nether­lands and Tur­key are both im­por­tant trad­ing part­ners to each other and we are look­ing to con­tinue to har­ness and to strengthen that,” the Dutch min­is­ter said. “We had an ex­cel­lent, productive day, well-at­tended by the Dutch busi­ness side as well as Turk­ish com­pa­nies.” She said the meet­ing was “pre­cisely” meant to explore op­por­tu­ni­ties, dis­cuss chal­lenges, sign busi­ness deals, and pur­sue stronger bi­lat­eral ties.

Asked about boost­ing her coun­try’s trade vol­ume with Tur­key, Kaag said Dutch officials are look­ing to ex­pand mar­kets for com­pa­nies from the viewpoint of sus­tain­abil­ity. “But we do not have a par­tic­u­lar price tag [goal] on coun­try A or B,” she ex­plained. “We pro­mote busi­nesses and their job ul­ti­mately is to in­vest and to move for­ward with our sup­port.”

Ac­cord­ing to Tur­key’s In­dus­try and Tech­nol­ogy Min­istry, the Nether­lands is the largest in­vestor in Tur­key, with for­eign di­rect in­vest­ment over the 2002-2019 pe­riod to­tal­ing $24.6 bil­lion.

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