Ministers agreed to launch preparatory negotiations to explore a free trade agreement. The move could unlock new investment and energy cooperation between Ankara and Ottawa.
Turkey and Canada have agreed to begin preliminary negotiations toward signing a Free Trade Agreement as a step toward deepening economic partnership, expanding mutual investments, and strengthening trade ties between the two countries.
Following a joint statement by Turkey’s Ministry of Trade and Canada’s Department of International Trade after the meeting of the two countries’ trade ministers – Omer Bolat and Maninder Sidhu – the intention to advance negotiations toward the agreement was recorded.
«The ministers reaffirmed their joint determination to further deepen trade and investment relations between Turkey and Canada. In this regard, they agreed to begin preliminary negotiations aimed at concluding a Free Trade Agreement.»
– Joint Statement
High-Level Dialogue and a Future Agreement
The decision marks the continuation of high-level dialogue between Turkish President Recep Tayyip Erdoğan and Canada’s Prime Minister Mark Carney, the document notes.
The statement emphasizes that the future agreement should fully realize the potential of the trade partnership between the two countries and reflect Ankara and Ottawa’s joint vision for the development of economic relations.
Advancing Transport and Energy Cooperation
The parties also welcomed the recent expansion of the Air Transport Agreement, which, in their words, will help strengthen transport links, create new opportunities for passengers, businesses, and exporters, and bring the economies of the two countries closer together.
Prospects for Cooperation in the Energy and Technology Sectors
During the meeting, particular attention was given to prospects for cooperation in the energy sector, especially in renewable and nuclear energy regarding the use of Canadian CANDU technology to diversify Turkey’s energy resources.
Turkey and Canada are also exploring opportunities to deepen cooperation in the aerospace, defense, security, and high-technology sectors. To maintain momentum, the parties agreed on reciprocal high-level visits and further expanding contacts between the business communities of both countries.
They are now awaiting further steps in the negotiation process aimed at strengthening economic cooperation between Turkey and Canada.