Business · Trade · 12 hrs ago
Turkey and Canada set a goal to raise trade to $10 billion
Canadian Prime Minister Mark Carney met Turkish President Recep Tayyip Erdoğan in Turkey and the two countries agreed to expand economic ties.
They set out a three-year plan covering trade, investment, defence, security and energy.
Trade between the countries has risen by about 50% since 2020, but currently stands at around $3 billion.
The leaders set a nearer-term target of $5 billion and a long-term goal of $10 billion in trade.
The countries also agreed to pursue cooperation in areas including defence, energy and critical minerals, and to increase flights between them from 12 to 21 a week.
The first round of free-trade agreement talks is scheduled for November 30 to December 4 in Ankara, and Canada plans to send a trade delegation to Turkey in 2027.
Turkey and Canada set a goal of increasing bilateral trade to $10 billion.
The current trade volume is about $3 billion, according to Mehmet Yılmaz, head of the DEİK Türkiye-Canada Business Council.
The leaders also set a near- and medium-term goal of $5 billion.
A three-year action plan is intended to deepen cooperation in trade and investment, defence, security and energy.
The first round of negotiations on a comprehensive free trade agreement is scheduled to take place in Ankara from November 30 to December 4.
- Who
- Turkey and Canada, represented in the article by President Recep Tayyip Erdoğan and Canadian Prime Minister Mark Carney.
- What
- The two countries set a goal of raising bilateral trade to $10 billion.
- When
- The report was published on October 24, 2026. The date of the leaders’ meeting is not stated.
- Where
- Turkey; the first round of free trade agreement negotiations is planned for Ankara.
- Why
- The leaders aim to expand economic and trade cooperation; the current trade volume is described as below the countries’ potential.
This story does not have two clearly opposing sides.
The first round of negotiations on a comprehensive free trade agreement is scheduled to take place in Ankara.
Canada is expected to send a trade delegation to Türkiye.
- Trade target
- $10 billion
- Current trade volume
- About $3 billion
- Near- and medium-term target
- $5 billion
- Action plan
- Three years
- Free trade talks
- First round scheduled for November 30-December 4 in Ankara
What people are saying
We are currently at around $3 billion. This figure is far below the potential of both Canada and Türkiye.
The leaders clearly set a target of $5 billion in the near and medium term, and then a target of $10 billion.