Turkiye-Greece Trade Relations Expected to Advance with Positive Atmosphere

Economic issues will also be on the table during Greek Prime Minister Mitsotakis’ visit to Turkiye tomorrow. While the foreign trade volume between Turkiye and Greece exceeded $4.1 billion last year, it is aimed to increase this figure to $10 billion.

Bilateral economic and commercial relations will also be among the topics of Greek Prime Minister Kyriakos Mitsotakis’s visit to Turkiye, which is expected to take place tomorrow.

Relations between Turkiye and Greece have the potential for cooperation in many areas such as health, environment, culture and art, tourism, economy and trade. In addition, the “positive agenda” initiative, which has been launched as of 2021 and is expected to accelerate commercial relations, is being institutionalized through mutual visits and cooperation agreements.

The fact that both Turkiye and Greece have attractive tourism destinations, global importance in terms of trade and energy shipments, and mutual direct investment advantages stand out as the main opportunities for Turkiye in the field of economy.

In this context, tomorrow’s visit is important in terms of strengthening bilateral relations.

$10 billion target in trade volume with Greece

Last year, $2 billion 609 million 889 thousand 468 of exports were made to Greece. During this period, Turkiye purchased products worth $1 billion 495 million 449 thousand 41 from Greece. Thus, while the foreign trade volume exceeded $4.1 billion last year, it is aimed to increase this figure to $10 billion.

Iron and steel ranked first in exports with $246 million 744 thousand 317 by the end of 2023. This sector was followed by “motor vehicles, tractors, bicycles, motorcycles and other land vehicles, their parts, accessories” with $233 million 581 thousand 399 and “plastics and products” with $210 million 990 thousand 642.

During this period, Turkiye purchased “mineral fuels, mineral oils and products obtained from their distillation, bituminous substances, mineral wax” worth $553 million 330 thousand 260 from Greece. This chapter was followed by cotton, cotton yarn and cotton textile products with $214 million 298 thousand 785.

The number of Greek tourists coming to Turkiye exceeded 168 thousand in the first quarter

As tourism activities increased after the COVID-19 outbreak, the visits of Greek citizens to Turkiye also increased.

In this context, while 71 thousand 490 tourists came to Turkiye in the January-March 2022 period, this number increased by 83.84% to 131 thousand 424 in the same period last year.

The interest of Greek citizens in Turkiye continued in the first quarter of this year. During the said period, the number of tourists reached 168 thousand 724, an increase of 28.38% compared to the same period last year.

Source: Trthaber / Prepared by Irem Yildiz

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