Turkish President Recep Tayyip Erdoğan recently hosted Canadian Prime Minister Mark Carney in Ankara for a two-day visit, marking Carney’s first bilateral trip to Türkiye. This meeting signifies a concerted effort by both nations to enhance diplomatic ties and expand cooperation in various sectors, including trade, energy, and technology.
During the visit, Erdoğan and Carney are expected to sign agreements that will establish a strategic partnership between Türkiye and Canada. These agreements aim to foster collaboration in critical areas such as energy, nuclear power, sustainable mining, defense, aerospace, and advanced technologies. A potential free trade agreement is also on the table, building on commitments made during the recent NATO summit. Notably, Türkiye has agreed to join Canada’s Defence, Security and Resilience Bank as a founding member, indicating a deepening cooperation in defense and security matters.
Economic relations between Türkiye and Canada have been strengthening, with bilateral trade increasing by nearly 50% over the past five years. Both countries are keen to further expand their commercial relations, particularly in sectors like energy, critical minerals, aerospace, and advanced technology. As Türkiye explores international partnerships for its planned second and third nuclear power plants, Canadian companies may find opportunities in projects related to nuclear energy and infrastructure.
Currently, Canada exports products such as lentils, aerospace equipment, optical instruments, and electronics to Türkiye, while Turkish exports to Canada include iron and steel, machinery, fresh fruit, and dried fruit. Carney’s visit is part of Canada’s broader strategy to diversify its international trade partnerships, reducing its reliance on the United States. For Türkiye, closer engagement with Canada presents opportunities to attract investment, expand exports, and bolster industrial cooperation.
This visit represents a significant step towards deeper Türkiye-Canada relations, with both nations aiming to translate growing diplomatic engagement into tangible trade and investment opportunities. As the leaders continue their discussions, the anticipated agreements could pave the way for a more robust and diversified economic partnership between the two countries.