Türkiye aims to boost bilateral trade with Australia $5 billion

ISTANBUL-Anadolu Agency

Türkiye is intensifying contacts with Australia — one of the countries in its “Far Countries Strategy” — in a bid to boost bilateral trade volume to $5 billion.

A Turkish business delegation representing various sectors will hold meetings in Melbourne and Sydney until Aug. 30.

Under the Trade Ministry’s “Far Countries Strategy,” strengthening trade as well as expanding economic and technical cooperation agreements with Australia has become a priority.

The delegation plans to explore collaboration opportunities with companies in sectors including food, agriculture, automotive, automation, furniture, cosmetics, industrial mining, financial consulting, leather goods and footwear.

Steven Young, chair of the Foreign Economic Relations Board (DEİK) Türkiye‑Australia Business Council, said bilateral trade has shown steady growth in recent years.

He noted that exports to Australia reached $1.1 billion last year, surpassing the $1 billion threshold for the first time.

“Our goal is to raise the trade volume to $5 billion in the medium term,” he said.

Young pointed out that Türkiye mainly exports industrial products, while Australia’s key exports are natural resources, minerals and agricultural goods.

He also noted that Turkish construction and engineering companies are expected to contribute to infrastructure and building projects in Australia, while joint ventures in renewable energy are anticipated in the energy sector.

“Potential growth areas for Turkish exports to Australia include automotive, machinery, white goods, electrical and electronic products, textiles, food items, jewelry and health tourism services. Turkish companies view Australia not only as a market, but also as a strategic gateway to the Asia‑Pacific region,” Young said.