Minister Bolat will meet with his Italian counterpart Tajani in Rome

According to the information obtained by the AA correspondent, Bolat will visit the capital Rome tomorrow. During the visit, Minister Bolat will hold a bilateral meeting with Italian Minister Antonio Tajani.

During the meeting, issues such as improving the economic and commercial relations between the two countries, increasing mutual investments, and Turkish and Italian companies undertaking joint projects in third countries will be discussed.

The new era industrial and trade policies of the European Union and the "Made in EU" approach in this direction and the updating of the Türkiye-EU Customs Union will be the prominent topics of the meeting.

Companies from the two countries are direct parts of each other

Türkiye and Italy have common interests in this area due to their strongly integrated industrial production and supply chains in line with the Customs Union. Particularly in the automotive, machinery, white goods, defense and aerospace sectors, companies of the two countries are directly part of each other's production and supply chains.

For this reason, in Bolat's contacts, it will be pointed out that Türkiye is an integral part of the European industrial ecosystem, and that the implementation of the "Made in EU" approach to include Türkiye in line with the Customs Union is of critical importance for the competitiveness of both the country and the European industry.

At the same time, it will be emphasized that taking into account the integrated structure of production within the scope of the Customs Union in Türkiye with production in Europe is in the common interest of the manufacturing companies and supply chains in Europe, especially Italy.

The round table meeting will focus on mutual investments

Following the bilateral meeting, Ministers Bolat and Tajani will hold a round table meeting with representatives of Italian companies operating and investing in Türkiye. In this meeting, mutual investments, joint production and supply chains, and cooperation opportunities in third countries will be discussed.

On the other hand, it will be pointed out that the two countries are strategic partners that are deeply interconnected within the production and supply chains of European industry.

While Italy's investment stock of approximately 4 billion dollars in Türkiye and 1645 Italian capital companies and Türkiye's investments exceeding 1 billion dollars in the country in question reveal the mutual and long-term nature of economic relations, cooperation between the two countries will be strengthened at this meeting to increase the trade volume, which approached 30 billion dollars last year, in line with the 40 billion dollars target set by the leaders.

What is the "Made in EU" approach?

The "Made in EU" approach, a strategic production and public procurement policy initiated by the European Union to reduce foreign dependency, secure supply chains and strengthen the intra-continental industrial infrastructure, aims to protect the domestic industry by directing public resources and tenders mainly to goods produced within Europe.

The approach, which aims to provide resilience against global supply chain shocks and foreign dependency in critical sectors such as green transformation, digital technology and industrial products, is seen as a result of the intense and constructive diplomacy process carried out recently, and after this stage, production ties between Europe and Türkiye are expected to become even stronger.