Published by Global Banking & Finance Review®
Posted on April 29, 2025
2 min readLast updated: January 24, 2026
Add as preferred source on GoogleTurkey and Italy will enhance defence cooperation and increase trade, targeting $40 billion annually. Leaders announced new projects and partnerships.
ROME (Reuters) -Italy and Turkey will continue to strengthen cooperation in the defence industry with new projects while also boosting their reciprocal trade, the leaders of the two countries said after holding talks in Rome.
Turkish President Tayyip Erdogan and Italian Prime Minister Giorgia Meloni met in the 17th-century Villa Doria Pamphili for an intergovernmental summit which also involved ministers from both countries.
"We will continue to strengthen our defence industry cooperation with Italy, which has made significant progress, with new partnerships and projects," Erdogan said, during a joint statement with the Italian leader in front of reporters.
Italy's Leonardo and Turkey's Baykar announced in March that they were setting up a joint venture to produce unmanned aerial vehicles, a deal that Meloni called "significant".
"(That) will allow us to enhance respective strengths, open up new market opportunities, especially in Europe," Meloni said.
The two leaders also announced a new annual target of $40 billion in trade volume between the two countries.
Meloni said over 400 Italian companies operated in Turkey and trade reached $32 billion last year.
Following the meeting, ministers from the two countries exchanged memorandums covering various sectors, as a business forum involving companies from both countries took place in a hotel near the centre of the Italian capital.
(Reporting by Angelo Amante in Rome, Ezgi Erkoyun and Huseyin Hayatsever in Istanbul. Editing by Emelia Sithole-Matarise and Mark Potter)
The main topic is the strengthening of defence cooperation and trade between Turkey and Italy, as announced by their leaders.
A joint venture between Leonardo and Baykar to produce unmanned aerial vehicles was announced.
Turkey and Italy have set a new annual trade target of $40 billion.
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