Economy

Turkey, Netherlands target $10B trade volume to start

Scientific research centers of both countries agree to cooperate in fields of science, innovation

Tuba Sahin, Aysu Bicer   | 11.09.2019
Turkey, Netherlands target $10B trade volume to start

ANKARA

Turkey and the Netherlands aim to increase their trade volume to $10 billion in the first stage, up from the current level of $8 billion, said Turkey’s trade minister on Wednesday.

Speaking at the Turkish-Dutch Joint Economic and Trade Committee (JETCO) in the Turkish capital Ankara, Ruhsar Pekcan said that after a pause, trade and economic ties between the two countries had picked up momentum.

"We signed a memorandum of understanding with the Netherlands as an extensive concept, 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.

TUBITAK is a Turkish national agency which plays a leading role in fostering science and technology in the country.

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 Netherland is the gateway to Europe, and this 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, tech ecosystems."

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