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By News Centre

Minister of Trade Ömer Bolat met with Spain’s First Deputy Prime Minister and Minister of Economy, Trade and Business Carlos Cuerpo Caballero in Madrid, holding high-level discussions aimed at deepening bilateral commercial ties.

Announcing details of the meeting via his social media account, Bolat stated, "As part of our visit to Spain—one of our most critical trade partners within the European Union—we held a highly productive meeting in Madrid with First Deputy Prime Minister and Minister of Economy, Trade and Business, Mr. Carlos Cuerpo Caballero. During our meeting, we comprehensively addressed our bilateral commercial and economic relations with Spain, a strategic partner, friend, and ally. We evaluated concrete steps to carry our existing economic partnership even further, agreeing to hold the 4th Term Türkiye-Spain JETCO (Joint Economic and Trade Committee) Meeting in Madrid this coming autumn, with strong participation from the business communities of both nations."

Noting that global and regional economic developments were thoroughly reviewed during the talks, Minister Bolat emphasized that Türkiye-EU economic relations formed a major topic on the agenda.

"In this framework, we shared our expectations regarding the modernization and more effective operation of the Customs Union, which forms the foundation of our strong economic integration with EU member states," Bolat explained. "We exchanged views on public procurement as one of the priority areas that could elevate our economic cooperation to a higher level. Furthermore, we evaluated recently enacted EU trade, competition, and industrial policies—most notably the Net Zero Industry Act (Industrial Acceleration Act). We emphasized that shaping these policies with an inclusive approach that encompasses Türkiye will contribute significantly to both the EU's competitiveness and Europe's broader economic security."

Bolat added: "On the occasion of our meeting, we congratulated Spain on its FIFA World Cup championship. Expressing our deep sadness over the recent forest fires in Spain, we reaffirmed Türkiye’s strong support for friendly and allied Spain during this difficult process."

Highlighting Spain's status as Türkiye’s fourth-largest trade partner within the European Union, Minister Bolat shared ambitious growth targets for bilateral commerce.

"We aim to increase our annual bilateral trade volume with Spain from last year's $20.5 billion to $25 billion in the medium term," Bolat stated. "Within the framework of the vision set forth by our President, Mr. Recep Tayyip Erdoğan, we firmly believe that the deep-rooted friendship and strategic partnership between Türkiye and Spain will grow even stronger in the upcoming period, built upon the innovative initiatives of our business community and mutual trust."