Signing on the "Memorandum on Establishing a Framework for Cooperation in Economic Relations between the Government of Japan and the Government of the Republic of Turkey" by Minister for Foreign Affairs Gemba, Minister of Economy, Trade and Industry Edano, and Minister of Economy of the Republic of Turkey Caglayan on the First Japan-Turkey Trade and Investment Summit
July 19, 2012
On Thursday, July 19, Mr. Koichiro Gemba, Minister for Foreign Affairs, Mr. Yukio Edano, Minister of Economy, Trade, and Industry, and H.E. Mr. Zafer Caglayan, Minister of Economy of the Republic of Turkey, who was on his visit to Japan, signed on the "Memorandum on Establishing a Framework for Cooperation in Economic Relations between the Government of Japan and the Government of the Republic of Turkey" from 4:10 pm. Subsequently, the ministers held the First Japan-Turkey Trade and Investment Summit (TRINS) launched on the basis of the Memorandum. An overview of the meeting is as follows:
- At the beginning
At the beginning of the meeting, Minister Gemba stated that he would like to strengthen relations with Turkey in every aspect and develop "strategic cooperative relations" by lifting the "lid of potentiality". Minister Gemba also expressed his expectations toward further progress of Japan-Turkey relations through the First Japan-Turkey Trade and Investment Summit from such a viewpoint. Minister Gemba then proposed joint research between the two countries to discuss the possibility of starting negotiations for the Japan-Turkey Economic Partnership Agreement (EPA).
Minister Edano stated that Turkey had served as a bridge between Asia and Europe, and Japanese enterprises gave considerable attention to Turkey as an emerging market. Moreover, Minister Edano stated that in terms of the Japan-Turkey EPA, the industrial circle of Japan also expected an early conclusion of the agreement and therefore launching of the joint research would be a timely action.
In response, Minister Caglayan welcomed the First Japan-Turkey Trade and Investment Summit and stated that since cooperation between Japanese and Turkish companies had already proceeded, especially in the fields such as construction and manufacturing, he expected further investment from Japanese enterprises to Turkey.
- Subsequent dialogue
Minister Gemba stated that many Japanese enterprises were highly interested in Turkey and requested Minister Caglayan to support Japanese enterprises’ participation into large-scale infrastructure-related projects to be implemented in Turkey in the future. Moreover, Minister Gemba welcomed progress in a working group on an agreement on social security between Japan and Turkey and requested further support from Minister Caglayan so that Japanese enterprises advancing into Turkey can conduct their economic activities more smoothly. In addition, Minister Gemba welcomed the success of the Japan-Turkey Business Partnership Forum held in Istanbul on July 5 aimed at the advancement into the Iraqi market and stated that he expected further progress in cooperation between the two countries in a third country including Iraq.
Minister Edano stated that Japanese enterprises were showing their interests in projects in Turkey, and requested Minister Caglayan to support Japanese enterprises so that Japan’s superior technologies and experience could be utilized in Turkey. Moreover, Minister Edano requested Minister Caglayan to make customs and product authentication procedures transparent and efficient, to ease the tuner tax on sales of TVs and to strengthen measures against the distribution of fake products, from a viewpoint of preparation in a business environment in Turkey. In addition, Minister Edano proposed to steadily follow these issues through working-level discussion.
In response, Minister Caglayan stated that he had already given support through the Investment Environment Preparation Committee of Turkey concerning the issues that Japanese enterprises face when they operate business in Turkey, and he would like to further strengthen Japan-Turkey economic relations, taking the results of the First Japan-Turkey Trade and Investment Summit held this time into consideration.
- (*The foregoing is a provisional translation. The date indicated above denotes the date of issue of the original press release in Japanese.)
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