Canada's Carney visits Turkey in push to ease US trade dependence
SPY•Canadian Prime Minister Mark Carney met Turkish President Tayyip Erdogan in Ankara as Canada seeks to expand trade ties and reduce reliance on the United States. The countries are expected to sign a cooperation declaration; bilateral trade was C$4.34 billion, less than 0.3% of Canada's total merchandise trade.
1. Cooperation agreement planned
Carney and Erdogan were expected to sign a declaration deepening cooperation in defence, energy and two other areas. A Turkish diplomatic source said bilateral ties would be upgraded to a “strategic partnership.” Carney's office said the visit aims to position Canada as a key partner in trade and investment.
2. Trade ties and context
Trade between Canada and Turkey has risen nearly 50% in five years, but Turkey accounted for less than 0.3% of Canada's merchandise trade, or C$4.34 billion ($3.09 billion). Canada sends nearly 70% of its exports to the United States. Carney's office said he is expected to meet Turkish business leaders, with trade, investment, defence, security and energy among the topics for discussion.
