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Turkey-Colombia trade doubles in 2021 – Al-Monitor

Turkey has also sought good relations with Venezuela in South America.

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« Turkish Foreign Minister Mevlut Cavusoglu discussed trade with his Colombian counterpart Marta Lucia Ramirez in Ankara today » reports Al-Monitor. 

Cavusoglu said that bilateral trade between Turkey and Colombia increased 100% from $1 billion to $2 billion in 2021, the official Anadolu Agency reported

« We have the potential to boost it (trade volume) to $5 billion,” said Cavusoglu. 

Turkey and Colombia opened their respective embassies in 2010 and 2011. The two countries held free trade agreement negotiations from 2011 until 2012 but appear to have not yet reached a deal. 

Turkey has important relationships with several Latin American states. In 2019, Panama was Turkey’s largest trading partner in the region, followed by Venezuela, according to the most recent data from The World Bank. In 2021, Colombia shot up to Turkey’s second-biggest trading partner in the region, according to Cavusoglu. 

Turkey has especially embraced Colombia’s neighbor Venezuela, which is subject to numerous sanctions from the United States.

Cavusoglu and Ramirez also discussed cooperation on refugee issues, according to Anadolu Agency. Turkey hosts 4 million refugees, the majority of whom are Syrian. Colombia hosts more than 1.5 million refugees from Venezuela. 

Turkey is not the only country seeking business ties with Colombia. The United Arab Emirates also signed an economic cooperation agreement with Colombia today, the official Emirates News Agency reported

Al-Monitor, April 1, 2022

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