Strengthening Ties: Italy and Turkey Unite in Defence and Trade

Italy and Turkey are set to enhance their cooperation in the defence industry and boost bilateral trade. Leaders Giorgia Meloni and Tayyip Erdogan agreed on joint ventures, including unmanned aerial vehicles, during a summit in Rome. The countries aim to increase trade volume to $40 billion annually.

In a significant move toward bolstering bilateral relations, Italy and Turkey have committed to deepening their ties in the defence industry alongside plans to expand trade. This announcement was made following high-level talks in Rome, where both countries' leaders emphasized the importance of future cooperation.

Turkish President Tayyip Erdogan and Italian Prime Minister Giorgia Meloni met at Villa Doria Pamphili, where they discussed potential partnerships, particularly in the realm of defence. Among the noteworthy announcements, Italian firm Leonardo and Turkey's Baykar revealed a joint venture to manufacture unmanned aerial vehicles, marking a substantial development in their collaborative efforts.

With over 400 Italian companies already operating in Turkey and a trade volume of $32 billion recorded last year, both nations have set an ambitious target of $40 billion in annual trade. As part of their commitment, ministers from both countries signed several memorandums at a business forum held in Rome, showcasing a robust intent to foster growth and collaboration.

(With inputs from agencies.)