Greece and Turkey are targeting the $10 billion trade milestone ahead of Wednesday’s summit in Ankara between Prime Minister Kyriakos Mitsotakis and President Recep Tayyip Erdogan.
Following a period of sustained diplomatic calm, the meeting marks the sixth High-Level Cooperation Council (HLCC), an event co-chaired by both leaders and attended by key cabinet ministers from both nations.
The summit is the latest step in a “positive agenda” designed to bypass historical friction by focusing on tangible cooperation. Since the 2023 summit in Athens, the two neighbors have accelerated joint initiatives in:
- Infrastructure & Economy
- Environmental Protection & Health
- Tourism & Cultural Exchange
The blossoming trade between Greece and Turkey
The economic relationship between Greece and Turkey has followed a steady upward trajectory over the last five years. In 2021, the total trade volume between the two nations stood at $5.3 billion. This figure began to climb gradually, reaching $5.5 billion in 2022 and $5.8 billion in 2023, as the “Positive Agenda” diplomatic initiative started to take hold.
The momentum accelerated significantly in the following years. By 2024, trade volume rose to $6.2 billion, and by the close of 2025, it reached a new peak of $6.7 billion. This current baseline of $6.7 billion serves as the foundation for the ambitious $10 billion strategic target that both leaders aim to achieve through upcoming bilateral agreements.
Trade balance and key commodities
While the total volume is increasing, the trade balance currently favors Turkey, which maintained a $4.1 billion trade surplus last year.
Turkish Exports to Greece: These have seen a remarkable 71.9% increase since 2021, totaling $5.4 billion in 2025. The backbone of these exports consists of mineral fuels and oils ($1.8 billion), iron and steel ($422.7 million), and electrical machinery ($387.5 million).
Greek Exports to Turkey: Imports from Greece have experienced more fluctuation over the same five-year period, eventually closing out 2025 at approximately $1.3 billion.
