India and Turkey on 08 May 2019, agreed to strengthen their economic relations to majorly expand their bilateral trade by 2020. It was decided following the talks held between Gitesh A Sarma, Secretary (West) and Turkey’s Deputy Foreign Minister Sedat Onal, who is on a three-day visit to India, under the institutional mechanism of foreign office consultations.
1. The two nations held cordial discussions on various aspects of bilateral ties including exploring opportunities for enhancing investment and trade relations.
2. Besides this, the nations also discussed other aspects of cooperation including enhanced cultural interaction, tourism, and people-to-people contacts.
3. Currently, the bilateral trade between India and Turkey stands at around USD 8.6 billion. The nations aim to expand it to USD 10 billion by 2020.
4. The two countries also reviewed the current situation in their respective regions and exchanged views on various multilateral issues.