Turkey, Japan resolve to boost bilateral ties

Turkish Prime Minister Ahmet Davuto?lu has said Turkey and Japan will give a new momentum to bilateral relations, including economy, trade and investment.

Davuto?lu made the remarks at a joint press conference on Nov. 14 in Istanbul with Japan's Prime Minister Shinzo Abe, who is in Turkey for the G-20 Summit to be held in Antalya.

"Trade volume between the two countries has reached $3.6 billion as of end of 2014, but it is not enough. The potential of the two countries is far beyond this figure," he said.

Stating that Turkey and Japan economic relations will reach the desired level as soon as the economic cooperation agreement is signed, Davuto?lu said, "We are planning to increase the current volume to $5 billion in two to three years and to $10 billion in the next five years at the latest."

The Turkish premier also said another focus would be upgrading current agricultural relations. "Turkey, which is the seventh biggest agricultural country, should have a larger market share in Japan, which is one of the biggest agricultural importers in the world," the premier said.

Abe also noted that Japanese interest and investment in Turkey gradually increased over the past years.

"Turkey is a powerful country contributing to the development of the region. The country is also a door opening to economies of Asia, Middle East, Europe and Africa.

"Japanese companies will also invest in media, finance and other sectors besides automotive and machine industry," Abe said.

According to Turkey's official statistics agency, TurkStat, Japanese firms invested $215 million in Turkey between January and July this year, resulting in a total of $1.7 billion since 2010.

Meanwhile, Turkey's exports to Japan have...