At the Türkiye-Spain Roundtable Meeting held in Istanbul, Turkish Minister of Trade Ömer Bolat announced that Turkish companies invested approximately $173 million in Spain in 2024, primarily in the textile, construction, home appliances, and logistics sectors.
The meeting, organized by the Foreign Economic Relations Board of Turkey (DEİK) in collaboration with the Spanish Confederation of Business Organizations (CEOE), brought together high-level participants including Spain’s Minister of Economy, Trade and Enterprises Carlos Cuerpo, DEİK President Nail Olpak, Türkiye-Spain Business Council Chair Ebru Özdemir, and Spanish-Turkish Council Vice President Iñigo Fernández de Mesa, along with dozens of business representatives from both countries.
In his keynote, Minister Bolat emphasized the strategic importance of Spain as Turkey’s fourth-largest trading partner in the EU, while Turkey stands as the fifth-largest global trade partner of the European Union. The bilateral trade volume between the two countries reached $19.2 billion in 2024, with a new target of $25 billion over the next five years set by President Recep Tayyip Erdoğan and Spanish Prime Minister Pedro Sánchez.
“The contribution of Spain to the Turkish economy is significant, with 783 active Spanish companies and nearly $18 billion in total investments,” Bolat stated.
He further highlighted new opportunities for cooperation in digitalization and green transformation, announcing that the Spanish government is ready to provide financing for Turkish companies operating in these fields. This includes projects related to renewable energy, hydrogen, carbon footprint reduction, and energy efficiency.
The Minister also praised Turkish contractors in Spain, noting that six major infrastructure projects valued at $1 billion are currently being carried out by Turkish firms.
On the topic of broader cooperation, Bolat discussed third-country collaboration opportunities explored during the Joint Economic and Trade Committee (JETCO) meetings. These included potential partnerships in Gulf countries, Ukraine, Africa, Central Asia, and Latin America.
He called for deeper engagement between private sector representatives in both countries, particularly in sectors such as defense, renewable energy, aviation, and maritime industries. Bolat stressed that strengthening Turkey-EU trade relations would benefit both sides and encouraged stakeholders to promote this vision across European business platforms.
