Officials at the Türkiye-Belgium Business Forum in Istanbul highlighted on Monday growing economic ties between the two countries and opportunities for broader trade and investment cooperation.
The forum, organized by Türkiye's Foreign Economic Relations Board (DEIK), was attended by Belgium's Queen Mathilde as well as a high-level Belgian delegation.
Officials highlighted opportunities to expand cooperation in areas including technology, green transition, defense and logistics.
Speakers also emphasized the importance of modernizing the Türkiye-EU Customs Union and Türkiye’s role as a production and logistics hub for European markets.
Business-friendly environment
Trade Minister Omer Bolat, welcoming Queen Mathilde during what he described as the largest international delegation visit to Türkiye, said reliable partnerships are increasingly important amid global supply chain disruptions and geopolitical tensions.
He noted that bilateral trade between the two countries reached $9.3 billion last year and said officials aim to raise the figure to $15 billion in a sustainable and balanced manner.
Bolat said priorities include strengthening the legal and business framework between the two countries through agreements on investment protection, investment promotion and the avoidance of double taxation, ensuring transparency, predictability and security for investors.
Belgian investments in Türkiye have reached nearly $5 billion, while Turkish investments in Belgium stand at around $750 million.
"Turkish companies are expanding their footprint in Belgium across sectors such as logistics, defense, manufacturing, retail and advanced technologies,” Bolat said.
He also highlighted opportunities in logistics, noting that Türkiye’s market exceeds $150 billion.
"Türkiye stands out with its strategic location at the crossroads of Europe, Asia and Africa,” he said. “Türkiye offers direct access to a market of over 1.3 billion consumers.”
Bolat also called on the EU to modernize the Customs Union to support integrated value chains between European and Turkish companies.
Complementary strengths
DEIK President Nail Olpak said Türkiye and Belgium have complementary economic strengths.
"Belgium is home to world-class companies in pharmaceuticals, chemicals, logistics, high-tech manufacturing and defense,” he said.
He highlighted Türkiye’s economic strength in production, technology and research and development – with its role as a global trade hub and consumer market of 86 million people.
Olpak said the green transition presents significant opportunities for cooperation, combining Belgian sustainability expertise with Türkiye’s rapidly growing renewable energy sector.
He also highlighted the potential for cooperation between Belgian high-tech companies and Türkiye’s expanding startup ecosystem.
According to Olpak, defense industry cooperation remains an important and logical area for both countries.
"We all witness that today’s only certainty is uncertainty, which we businesspeople never like,” he said. "The idea of free trade has been transferred to economic blocs as well as political blocs."
He added that Türkiye’s more than 60-year EU partnership journey should now be viewed from a new perspective.
From regional bridge to global economic powerhouse
Investment and Finance Office head Ahmet Burak Daglioglu said more than 700 Belgian companies currently operate in Türkiye, with total Belgian investment since 2003 exceeding $8 billion.
He said Türkiye recorded a compound annual growth rate of 5.3% over the past two decades and recovered rapidly from major global economic shocks.
Daglioglu added that the government introduces a new reform agenda every 24 months based on private sector feedback.
He highlighted Türkiye’s young and highly educated workforce, saying investors can easily access skilled technical staff, software developers and senior managers across sectors.
Daglioglu said Türkiye’s strategic location has turned the country into a major connectivity and logistics hub linking three continents.
Massive infrastructure investments have transformed Türkiye from a regional bridge into a global economic powerhouse, he added.
He also noted that the government recently announced a new package of financial and non-financial investment incentives.
Daglioglu concluded by inviting the Belgian business community to a reception in June marking the 20th anniversary of the office.
