Türkiye, Singapore sign JETCO protocol to deepen economic ties

Resumen detallado

Türkiye and Singapore signed a Joint Economic and Trade Committee (JETCO) protocol aimed at strengthening bilateral cooperation in trade, investment and other economic sectors.

The JETCO Protocol was signed by Trade Minister Ömer Bolat (R) and Singapore’s Sustainability, Environment, and Trade Minister, Grace Fu. (AA Photo)

Türkiye and Singapore signed a Joint Economic and Trade Committee (JETCO) protocol aimed at strengthening bilateral cooperation in trade, investment and other economic sectors.

The protocol was signed by Trade Minister Ömer Bolat and Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations Grace Fu following a Türkiye-Singapore JETCO meeting in Istanbul.

Bolat said the two sides had discussed all aspects of their commercial and economic relations during meetings between the ministers and their delegations before the signing ceremony.

He said the agreement demonstrated the importance Türkiye attached to Singapore and the wider Southeast Asian region. Bolat also noted that the protocol was signed on the 11th anniversary of the Türkiye-Singapore Free Trade Agreement, concluded on Nov. 14, 2015.

Bolat said JETCO would enable ministers and senior officials to meet more frequently, review bilateral relations and expand cooperation through new projects and programs.

The protocol establishes a regular ministerial-level consultation mechanism covering trade, investment, the digital economy, green transformation, energy, logistics and finance. The mechanism is intended to allow the two countries to address their economic agenda more regularly, monitor agreed measures and turn new areas of cooperation into concrete projects.

Bolat said bilateral trade reached $1.1 billion in 2025 and was expected to rise to between $1.3 billion and $1.4 billion by the end of this year.

Singaporean companies’ direct investment stock in Türkiye stood at $2.7 billion, while Singapore’s investments in the country had increased by 90 percent since 2020, he added.

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