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A Turkish business delegation affiliated with Türkiye's Foreign Economic Relations Board (DEIK) will hold several key meetings in Melbourne and Sydney until Aug. 30, aiming to boost ties toward a $5 billion trade volume set as part of the Trade Ministry’s "Far Countries Strategy."
The delegation is expected to evaluate cooperation opportunities with companies in many sectors, including food, agriculture, automotive, automation, furniture, cosmetics, industrial mining, financial consultancy, leather bags and footwear.
According to official figures, bilateral trade between Türkiye and Australia reached $2.2 billion in 2024, with Türkiye’s exports rising 15% to $1.08 billion and imports declining 2% to $1.14 billion.
Steven Young, Chairman of the Türkiye-Australia Business Council at the Foreign Economic Relations Board of Türkiye (DEIK), said that bilateral trade has maintained a steady course in recent years, noting that Türkiye’s exports to Australia exceeded $1 billion for the first time in 2024.
"This proves that we have moved from being a net importer in the past to a more balanced position," Young told Anadolu Agency (AA), adding that the Council’s goal is to bring business communities of both countries closer, raise mutual awareness on trade and investment opportunities, and foster partnerships.
Young underlined that the two countries complement each other in trade, with Türkiye exporting mainly industrial goods while Australia focuses on natural resources, minerals, and agricultural products. "This situation presents major opportunities for cooperation," he said.
He pointed to areas where Turkish companies could stand out in Australia, including automotive, machinery, white goods, electronics, textiles, food products, jewelry, and health tourism services.
"Turkish companies see Australia not only as a market but also as a strategic base for entering the Asia-Pacific region," Young stressed.
While acknowledging that current investment levels remain below expectations, Young said Turkish firms in Australia are mostly active in construction, architecture, tourism, and services, while Australian companies in Türkiye focus on energy, mining, infrastructure, and health tourism.
He emphasized that future cooperation is likely to grow in areas such as critical minerals, agricultural technologies, logistics, and digitalization.
"We know that Beko (a subsidiary of Turkish home appliances manufacturer Arcelik) has wholesale trade investments in Queensland, and Sampa Automotive has investments in Victoria and Western Australia," he said, noting that several smaller-scale investors are also active in sectors like ready-to-wear and furniture.
Young highlighted that geographical distance and logistics costs remain a challenge in Türkiye’s trade with Australia, as the country’s proximity to Asian economies such as China, India, and Thailand intensifies competition.
However, he said that Turkish Airlines’ launch of direct flights to Melbourne and Sydney will provide a significant logistical advantage for business ties.
Calling Australia one of Türkiye’s priority target countries under the "Far Countries Strategy," Young said the Asia-Pacific region offers Turkish companies strong opportunities for integration.
He emphasized the importance of having tailored strategies and market-entry models for investors considering Australia.
Meanwhile, Young also pointed out that the 2032 Brisbane Summer Olympic and Paralympic Games are expected to drive major infrastructure and construction projects across Queensland, creating opportunities for Turkish contractors and engineering firms.
Australia is preparing to host the 2032 Summer Olympic and Paralympic Games in Brisbane, the country’s third-largest city.
This will be the third time Australia hosts the Olympics, after Melbourne in 1956 and Sydney in 2000.
"Especially Turkish contracting and engineering companies are expected to contribute to infrastructure and construction projects in Australia and may also play a role in preparations for the 2032 Brisbane Summer Olympic and Paralympic Games," he added.
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