Turkey, Lithuania set $1B trade volume target

Turkey and Lithuania are looking to double the bilateral trade volume from its current level, Turkey's trade minister said Friday.

"Our trade volume with Lithuania is around $562 million, which is very low. We aim to increase it to $1 billion as a first stage," Ruhsar Pekcan, currently visiting Lithuania, told the Turkey-Lithuania Business Forum in the capital Vilnius.

Pointing to Lithuania's success in innovation, technology, FinTech, communications, and information technology, Pekcan said the ministry backs the cooperation of firms from both sides.

She also highlighted the potential of health tourism.

Lithuanian Energy Minister Zygimantas Vaiciunas said the country is a springboard for Turkish companies to reach Baltic states.

Turkey can be a gateway to Asian countries for Lithuania, Vaiciunas said, adding: "Actually, we want to close this gap."

Nail Olpak, the head of Turkey's Foreign Economic Relations Board (DEIK), stressed that Turkish companies use Lithuania's investments in RD infrastructure and information technology valleys.