Ambitious Economic Targets set the Stage for Growth

Italy and Türkiye are embarking on a new chapter of economic cooperation, setting an ambitious target to reach $40 billion in bilateral trade in the medium term.This announcement follows a highly productive intergovernmental summit, the fourth between the two nations, where both sides expressed satisfaction with current achievements.

The current trade volume between Italy and Türkiye has already surpassed expectations, reaching over $32 billion in 2024, significantly exceeding the $30 billion goal set during the previous summit. Italian exports have been a key driver of this growth, experiencing an increase of over 28% in the past year. With over 400 Italian companies operating in Türkiye, contributing to manufacturing, infrastructure, and high-value sectors, the economic relationship is characterized by strong complementarity.

The joint declaration that we adopt today confirms the solidity of the relationships between our nations, lays the foundations to strengthen our partner even more.

Strategic Alliances and Technological Advancements

Beyond trade, the partnership is expanding into strategic sectors. A meaningful development is Baykar Technologies’ acquisition of Piaggio aerospace, paving the way for a joint italian-Turkish venture with Leonardo in the development, production, and maintenance of unmanned aerial systems. This joint venture, based in Italy, aims to leverage the strengths of both companies and unlock new market opportunities, especially in Europe.

Moreover,a groundbreaking agreement between Tim Sparkle and Turkcell will establish a cutting-edge digital bridge connecting Türkiye to Italy and the broader European telecommunications ecosystem. This 4,000 km undersea cable will enhance connectivity between Europe, the Middle East, and Asia, fostering digital collaboration and innovation.

Expanding Cooperation Across Multiple Sectors

The strengthened partnership extends to various other sectors, including:

• Energy: Deepening collaboration in natural gas supply through the Trans Adriatic Pipeline (TAP), while exploring opportunities in renewables and hydrogen.
• Space: Consolidating cooperation in space exploration and technology.
• Infrastructure and Transport: Focusing on high-speed rail development.
• Culture and Sports: Jointly hosting the 2032 European Football Championship.

Addressing Geopolitical Challenges Together

Italy and Türkiye,as allied nations in the Euro-mediterranean region and within the Atlantic alliance,are committed to addressing pressing geopolitical crises. Discussions during the summit focused on the war in Ukraine and the situation in the Middle East,particularly Gaza.

Italy has expressed its support for TürkiyeS mediation efforts in the Russia-Ukraine conflict, especially concerning food security. Both nations reiterate the need for a ceasefire and peaceful negotiations. Regarding the Middle East, Italy supports efforts to achieve a credible reconstruction plan for Gaza and lasting regional security.

Furthermore, both countries emphasize the importance of a democratic transition in Syria, ensuring the inclusion of all ethnic and religious minorities, and support efforts to facilitate the safe and voluntary return of refugees.

Combating Terrorism and Managing Migration

The fight against terrorism remains a key area of collaboration, with Italy and Türkiye committed to strengthening their already effective cooperation. They are also working together to stabilize Libya through UN mediation.

Significant progress has been made in managing migration, with a significant reduction in irregular migrant departures from Turkish coasts. Both countries aim to deepen cooperation in combating criminal organizations and human traffickers.