Japan and Turkey Continue Talks on Trade Deal, Hoping for Agreement by June

Japan and Turkey are hoping to agree on a trade deal by June as the two sides enter their latest round of negotiations, according to a notice from Japan’s Ministry of Economy, Trade and Industry and a report by Nikkei Asian Review. The latest round of negotiations -- announced on April 1 by Japan -- are being held April 2-5 in Ankara.

Turkey competes with Europe for many of its major exports to Japan, according to the report, and fears that Japan’s recent trade deal with the European Union, which took effect in February, will damage Turkey’s exports. The report also said that Japan is looking to reduce certain Turkish tariffs on Japanese products -- including cars, auto parts, motors and batteries -- and that the potential deal would ease Turkey’s foreign investment rules. Several Japanese companies, including Toyota Motor Corp., have production facilities in Turkey, according to the report.

Turkey’s President Recep Tayyip Erdogan is expected to visit Japan in June during the G-20 summit, the report said.