Türkiye-France JETCO meeting in Istanbul charts roadmap for deepening economic ties

2026-02-17 - 11:25

The Türkiye-France Joint Economic and Trade Cooperation meeting convened in Istanbul Tuesday, bringing together Turkish Trade Minister Omer Bolat and French Minister Delegate for Foreign Trade Nicolas Forissier to chart a roadmap for deepening bilateral economic relations. Hosted by the Foreign Economic Relations Board, the gathering produced comprehensive discussions on expanding cooperation across multiple sectors as bilateral trade reached $24.1 billion in 2025, dramatically up from $14 billion five years ago. Investment Growth and Sectoral Cooperation Bolat revealed that Turkish companies' investments in France have reached $1 billion, while French investments in Türkiye total $8.7 billion, with $4 billion of that amount arriving in the past four years. Approximately 1,749 French firms maintain significant operations in Türkiye across industry, energy, services, transportation, and aviation sectors. The minister noted French companies are currently discussing $5 billion in new investments and projects over the next three years. Existing cooperation spans automotive, aviation, pharmaceuticals, renewable energy, textiles, food, cement, construction, ICT, tourism, finance, and insurance sectors, with both sides expecting continued expansion. Customs Union and Visa Facilitation Bolat emphasized productive discussions on Türkiye-EU relations, noting both sides reached agreement on solutions addressing certain customs union issues. French officials reported issuing 163,000 visas to Turkish citizens last year—the highest number granted worldwide after China—with significantly reduced waiting times and eased regimes particularly for students and businesspeople. The JETCO framework continues to serve as a vital platform for coordinating economic policy and removing barriers to bilateral commerce and investment.