Latest news with #Bolat
Qatar Tribune
03-08-2025
- Business
- Qatar Tribune
Turkish monthly exports hit $25 billion mark for first time in July
Agencies Türkiye's monthly exports achieved a new historic peak by hitting the $25 billion mark for the first time, according to a top official on Saturday. Turkish outbound shipments in July surged 11% compared to the year earlier, Trade Minister Ömer Bolat told an event in northern Samsun province, announcing the preliminary data. He recalled that the value of shipments stood at $22.5 billion in July of last year and drew attention to the fact that an additional $2.5 billion was added to exports when comparing the same month in 2024. 'We broke the highest monthly goods export record in our history in July. Consequently, we broke the highest export record for July in our history and as of July, we reached the highest total goods export figure in our history for the past year,' Bolat said. 'Another encouraging development: a slowdown in the rate of monthly import growth was achieved and the monthly foreign trade deficit in July narrowed significantly compared to the same month of the previous year and compared to June,' he added. At the same time, he noted that the export-to-import coverage ratio also improved. 'This is what we call a 'legendary month,' six major achievements in one. We reached an all-time high in monthly exports at $25 billion, up from $22.5 billion in July last year, an increase of $2.5 billion, or 11%,' the minister said exports in July increased by $4.5 billion compared to June, adding that the next target is to reach $26 billion in monthly exports. 'Our extraordinary efforts are reinforcing the process of rebalancing and stabilizing our economy,' he emphasized. Previously, the monthly record in exports was achieved in May this year with $24.8 also informed that the foreign trade deficit dropped to $6.4 billion last month, down 12% from $7.3 billion in July 2024, marking the lowest deficit in the past nine months. Moreover, when examining January-July exports, he stated that they reached $156.4 billion, representing a 5.2% year-over-year increase. He said that recent global conflicts, ranging from trade wars and tariff disputes, have caused sharp disruptions in global trade, growth, and commodity prices, including those of energy and gold. Despite regional instability, Bolat said that under the leadership of President Recep Tayyip Erdoğan, 'Türkiye continues its strong rise as a pillar of stability in the economy, foreign policy, defense, transportation and energy.'
Tourism Breaking News
03-06-2025
- Business
- Tourism Breaking News
Turkish Airlines Chairman Ahmet Bolat Reelected to the IATA Board of Directors
Post Views: 38 Turkish Airlines Chairman of the Board and the Executive Committee, Ahmet Bolat, has been reelected to the Board of Directors of the International Air Transport Association (IATA) for a second term during the IATA's 81st Annual General Meeting (AGM) held in New Delhi. During his three-year tenure, Prof. Bolat will continue to contribute to the global aviation vision and represent the industry among other leading aviation executives. IATA is one of the most influential international organizations shaping the global air transport sector. It plays a pivotal role in advocating the strategic interests of its member airlines and guiding the industry on key issues such as sustainability, operational efficiency, and digital transformation. Engagements of the IATA Board of Directors is instrumental in driving progress across the global aviation landscape. Commenting on his reelection, Turkish Airlines Chairman of the Board and the Executive Committee, Ahmet Bolat stated 'I am honored to be reelected to the IATA Board of Directors. This responsibility is not only a testament to the strength and vision of our airline, but also a significant opportunity to represent Türkiye's growing influence in the global aviation arena. As Turkish Airlines, we remain committed to actively contributing to IATA's strategic initiatives and the future of our industry.' Bolat's reelection reaffirms to Turkish Airlines' prominent role in global aviation and its unwavering commitment to fostering international collaboration. It also reinforces Türkiye's influential voice in shaping the future of the industry at the highest levels of global governance.
Web Release
03-06-2025
- Business
- Web Release
Turkish Airlines Chairman Prof. Ahmet Bolat Reelected to the IATA Board of Directors
Turkish Airlines Chairman of the Board and the Executive Committee, Prof. Ahmet Bolat, has been reelected to the Board of Directors of the International Air Transport Association (IATA) for a second term during the IATA's 81st Annual General Meeting (AGM) held in New Delhi. During his three-year tenure, Prof. Bolat will continue to contribute to the global aviation vision and represent the industry among other leading aviation executives. IATA is one of the most influential international organizations shaping the global air transport sector. It plays a pivotal role in advocating the strategic interests of its member airlines and guiding the industry on key issues such as sustainability, operational efficiency, and digital transformation. Engagements of the IATA Board of Directors is instrumental in driving progress across the global aviation landscape. Commenting on his reelection, Turkish Airlines Chairman of the Board and the Executive Committee, Prof. Ahmet Bolat stated 'I am honored to be reelected to the IATA Board of Directors. This responsibility is not only a testament to the strength and vision of our airline, but also a significant opportunity to represent Türkiye's growing influence in the global aviation arena. As Turkish Airlines, we remain committed to actively contributing to IATA's strategic initiatives and the future of our industry.' Prof. Bolat's reelection reaffirms to Turkish Airlines' prominent role in global aviation and its unwavering commitment to fostering international collaboration. It also reinforces Türkiye's influential voice in shaping the future of the industry at the highest levels of global governance.
Yahoo
07-05-2025
- Business
- Yahoo
Turkey, Britain to hold free trade agreement modernisation talks by end-July, trade minister says
ANKARA (Reuters) - Turkey and the United Kingdom agreed to hold the first round of negotiations to modernize and expand the scope of a Free Trade Agreement (FTA) between them by end-July, Turkish Trade Minister Omer Bolat said on Wednesday. The FTA between NATO allies Britain and Turkey was rolled over when Britain left the European Union in 2020, but a review by both sides in 2023 concluded there was room for improvement. In a post on X, Bolat said his meeting in London with UK Secretary of State for Business and Trade, Jonathan Reynolds, was productive and that the sides signed sections of the free trade agreement about motor vehicles and chemicals, taking an "important step in the modernization process." "Additionally, we agreed to hold the 8th session of the Türkiye–United Kingdom Joint Economic and Trade Committee (JETCO), where we will comprehensively assess our trade relations, in London later this year," Bolat added. (Reporting by Tuvan Gumrukcu and Huseyin Hayatsever; Editing by Toby Chopra)
Straits Times
07-05-2025
- Business
- Straits Times
Turkey, Britain to hold free trade agreement modernisation talks by end-July, trade minister says
ANKARA - Turkey and the United Kingdom agreed to hold the first round of negotiations to modernize and expand the scope of a Free Trade Agreement (FTA) between them by end-July, Turkish Trade Minister Omer Bolat said on Wednesday. The FTA between NATO allies Britain and Turkey was rolled over when Britain left the European Union in 2020, but a review by both sides in 2023 concluded there was room for improvement. In a post on X, Bolat said his meeting in London with UK Secretary of State for Business and Trade, Jonathan Reynolds, was productive and that the sides signed sections of the free trade agreement about motor vehicles and chemicals, taking an "important step in the modernization process." "Additionally, we agreed to hold the 8th session of the Türkiye–United Kingdom Joint Economic and Trade Committee (JETCO), where we will comprehensively assess our trade relations, in London later this year," Bolat added. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
