Türkiye, Canada launch free trade agreement negotiations
13 oC
13 oC
Güneşli
13 oC
Güneşli
Türkiye and Canada have officially launched negotiations for a comprehensive Free Trade Agreement (FTA), marking a new step toward deepening bilateral economic ties.
Türkiye's Ministry of Trade announced that the decision was made following a meeting between President Recep Tayyip Erdoğan and Canadian Prime Minister Mark Carney on the sidelines of the 36th NATO Summit in Ankara.
According to the ministry, the launch of negotiations builds on a Joint Ministerial Statement issued in June by Turkish Trade Minister Ömer Bolat and Canada's Minister of International Trade Maninder Sidhu, in which the two sides agreed to begin exploratory discussions on a comprehensive FTA.
The ministry said the two leaders had instructed their governments to formally begin negotiations aimed at strengthening the economic partnership between the two countries.
Focus on growth, trade and resilient supply chains
Officials said the proposed agreement is expected to support economic growth, create new employment opportunities, enhance competitiveness, and strengthen supply chain resilience while expanding bilateral trade and investment.
The ministry added that the agreement is intended to be comprehensive, modern and mutually beneficial, covering a broad range of economic sectors in line with current global trade standards.
Technical preparations underway
Technical teams from both countries are expected to begin work in the coming weeks to determine the scope and objectives of the agreement and prepare for the first round of negotiations.
Authorities said preparations are already underway to achieve a high-quality and comprehensive trade agreement that will further expand commercial and economic cooperation between Türkiye and Canada.
Canada is one of Türkiye's important trade partners in North America, with bilateral trade covering sectors such as machinery, automotive products, aerospace, agriculture and advanced manufacturing. Officials from both countries have expressed confidence that a future FTA will help unlock new investment opportunities and increase trade volumes. (ILKHA)
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