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    1. Home
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    3. >Turkey backs Sweden’s NATO entry
    Top Stories

    Turkey Backs Sweden’s NATO Entry

    Published by Uma Rajagopal

    Posted on July 11, 2023

    2 min read

    Last updated: February 1, 2026

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    Turkish President Tayyip Erdogan and Swedish Prime Minister Ulf Kristersson engage in discussions about Sweden's bid to join NATO, highlighting the significance of this agreement in strengthening military alliances amid geopolitical tensions.
    Turkish President Erdogan and Swedish PM Kristersson discuss NATO membership - Global Banking & Finance Review
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    Tags:international financial institutionforeign currencyfinancial marketsinvestment portfolioseconomic growth

    Quick Summary

    (Reuters) – Turkey’s President Tayyip Erdogan agreed Monday to support Sweden’s bid to join NATO, a move that will expand the military alliance and strengthen its Baltic flank as Russia continues its invasion of Ukraine.

    Turkey backs Sweden’s NATO entry

    (Reuters) – Turkey’s President Tayyip Erdogan agreed Monday to support Sweden’s bid to join NATO, a move that will expand the military alliance and strengthen its Baltic flank as Russia continues its invasion of Ukraine.

    Erdogan agreed to forward the membership bid to parliament, appearing to end months of drama over an issue that had strained the bloc.

    Here are key quotes about the agreement and reaction to it:

    NATO SECRETARY GENERAL JENS STOLTENBERG

    “I’m glad to announce … that President Erdogan has agreed to forward the accession protocol for Sweden to the grand national assembly as soon as possible, and work closely with the assembly to ensure ratification,” he told a news conference.

    STATEMENT FOLLOWING TURKEY-SWEDEN-NATO MEETING

    “Both Türkiye and Sweden will look to maximise opportunities to increase bilateral trade and investments. Sweden will actively support efforts to reinvigorate Türkiye’s EU accession process, including modernisation of the EU-Türkiye Customs Union and visa liberalisation.”

    SWEDISH PRIME MINISTER ULF KRISTERSSON

    “This feels very good, this has been my aim for a long time, and I believe we had a very fine response today and took a very big step towards membership,” he told a news conference.

    U.S. PRESIDENT JOE BIDEN

    “I welcome the statement issued by Türkiye, Sweden and the NATO Secretary General this evening,” he said in a statement.

    “I stand ready to work with President Erdogan and Türkiye on enhancing defense and deterrence in the Euro-Atlantic area.”

    UK FOREIGN SECRETARY JAMES CLEVERLY

    “It is in everyone’s interest for Sweden to join @NATO. Their accession makes us all safer. The UK welcomes the steps Turkey has taken today to bring this closer,” he wrote on Twitter.

    (Compiled by Costas Pitas, Editing by Rosalba O’Brien)

    Table of Contents

    • NATO SECRETARY GENERAL JENS STOLTENBERG
    • STATEMENT FOLLOWING TURKEY-SWEDEN-NATO MEETING
    • SWEDISH PRIME MINISTER ULF KRISTERSSON
    • U.S. PRESIDENT JOE BIDEN
    • UK FOREIGN SECRETARY JAMES CLEVERLY

    Frequently Asked Questions about Turkey backs Sweden’s NATO entry

    1What is NATO?

    NATO, or the North Atlantic Treaty Organization, is a military alliance formed in 1949 for mutual defense against aggression. It consists of member countries that agree to defend each other in case of an attack.

    2What are financial markets?

    Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives. They play a crucial role in the economy by facilitating capital flow.

    3What are investment portfolios?

    Investment portfolios are collections of financial assets such as stocks, bonds, and cash equivalents held by an individual or institution. They are designed to achieve specific investment goals.

    4What is economic growth?

    Economic growth refers to the increase in the production of goods and services in an economy over time, typically measured by the rise in Gross Domestic Product (GDP).

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