Türkiye and Singapore to boost trade and investment ties

Türkiye and Singapore have taken a new step to strengthen their economic and trade relations. A declaration establishing a Joint Economic and Trade Committee, known as JETCO, was signed in Istanbul.

The declaration was signed by Türkiye’s Minister of Trade Ömer Bolat and his Singaporean counterpart Grace Fu. Bolat said bilateral trade volume was expected to reach 1.4 billion dollars by the end of the year. He also noted that direct investments by Singaporean companies in Türkiye had increased by 90 percent since 2020, reaching 2.7 billion dollars.