Türkiye was home to 688 companies funded by Latin American and Caribbean capital as of the end of 2025, with their capital investment stock in the country reaching $3.4 billion, Trade Minister Ömer Bolat said.

Speaking at a meeting with ambassadors of Latin American countries at the Trade Ministry on Thursday, Bolat offered condolences on behalf of the Turkish nation and government over the earthquake in Venezuela, saying Türkiye would stand by the country in search and rescue and other relief efforts.

Bolat said relations between Türkiye and Latin America had developed on the basis of mutual respect and a shared vision, adding that the "Latin America and the Caribbean Opening Policy,” launched in 1998 and updated in 2006, had begun to bear fruit.

Pointing to the significant increase in Türkiye’s diplomatic presence in the region in recent years, Bolat said: "We increased the number of our diplomatic missions from six in 2002 to 20 today. We have trade counselor offices in most countries in the region. Likewise, we are very pleased that Latin American countries have 18 embassies in Türkiye.”

Bolat said Türkiye and Latin American countries had signed important trade and political agreements over the past two decades, while direct flights from Türkiye to the region had also begun during this period.

He also highlighted aid carried out in the region by the Turkish Cooperation and Coordination Agency (TIKA), saying Turkish institutions had rapidly delivered assistance to the region during natural disasters such as earthquakes and hurricanes.

Despite geopolitical risks and protectionist policies, Bolat said the Turkish economy had recorded positive growth for the past 23 quarters and ranked 16th in the world with an economy exceeding $1.1 trillion. He said Türkiye had introduced legal regulations to provide incentives to international investors.

Bolat noted that Türkiye had reduced the corporate tax rate for international investments from 25% to 12.5%.

"We have also launched the ‘One-Stop Office’ system to carry out the permit and licensing procedures investors need from a single center. Our national income per capita has exceeded $18,000. The downward trend in inflation and unemployment remaining in single digits for the past three years continue to make Türkiye an attractive center for investors,” he said.

Bolat said Türkiye’s combined goods and services exports reached $390 billion in 2025, adding that the target for 2026 was $410 billion. He also pointed to the global success of the Turkish contracting sector, saying Turkish firms had undertaken projects worth $562 billion in 138 countries.

Bolat said the coming period would see intense diplomatic activity, noting that Türkiye would host major international events this year, including the NATO Summit, the U.N. Climate Change Conference COP31 and the International Astronautical Congress.

He said Türkiye’s trade relations with Latin America and the Caribbean had gained momentum in recent years. The total trade volume with the region stood at just $920 million in 2000 but increased 18-fold over 25 years to reach $16.4 billion, he said.

Bolat said $5.7 billion of the total trade consisted of Türkiye’s exports to Latin America and the Caribbean, while $10.6 billion came from imports from the region.

"Trade with the region continued to increase in the first five months of this year, reaching $8.3 billion. While Türkiye’s exports to Latin America remained almost unchanged during this period, imports from the Latin American region increased by 19%. Thus, the foreign trade volume rose by 15.7%,” he said.

Bolat said Türkiye’s exports to Latin American countries mainly included gold, jewelry, iron and steel, automotive products, cement and petroleum oils, while imports from the region included live cattle, raw unprocessed gold, soybeans, coffee, cotton and hard coal.

Noting that Latin America and the Caribbean still did not account for a large share of Türkiye’s foreign trade, Bolat said the region’s share in Türkiye’s total exports in 2025 was 2.1%, while its share in total imports was around 3%.

"This picture shows that our supply from the region has strengthened, but it also indicates that we need to place greater importance on mutual trade relations and achieve a more balanced structure in foreign trade. In the coming period, we will raise these rates further,” he said.

Bolat said Türkiye was closely following regional integration initiatives such as MERCOSUR, or the Southern Common Market, and the Pacific Alliance, in addition to maintaining good bilateral ties with countries in the region.

"We are also carefully monitoring developments regarding the free trade agreement signed between the European Union and MERCOSUR. We believe Türkiye’s more than 30 years of Customs Union integration experience with the European Union in industrial products is also important for developing our economic relations with MERCOSUR,” he said.

Bolat said Türkiye had free trade agreements with Chile and Venezuela in the region, Joint Economic Commission mechanisms with 24 countries and Joint Economic and Trade Committee (JETCO) mechanisms with several countries.

He said the first JETCO meeting with Paraguay had also been held recently, adding that Türkiye had agreements on the reciprocal promotion and protection of investments with eight friendly countries in the region, as well as double taxation avoidance agreements with six countries.

Bolat said there were 13 business councils for the region within the Foreign Economic Relations Board (DEIK), adding that Türkiye aimed to further advance trade, investment and economic cooperation through new projects and that he believed the number of business councils would increase further.

Highlighting mutual investments, Bolat said: "As of the end of 2025, 688 companies with Latin American and Caribbean capital had been established in Türkiye, and their capital investment stock in Türkiye stood at $3.4 billion. Direct investment and capital stock from Türkiye to Latin American countries amounts to $1.3 billion. Turkish companies have investments in many sectors in Latin America, from port operations and energy investments to construction and tourism. Considering the potential between us, it is clear that mutual investments need to increase further.”

Bolat said the total value of projects undertaken by Turkish international contracting firms in Latin America and the Caribbean had reached $1.6 billion, with 45 projects completed or undertaken to date.

He also said Turkish TV series had attracted intense interest in the region, adding that Türkiye was the world’s third-fastest-growing country in TV series and film exports after the U.S. and the U.K.

Bolat said Turkish productions had become a global brand, reaching more than 1 billion viewers daily in over 150 countries.

"Turkish TV series attract great interest across Latin America and the Caribbean, particularly in Chile, Argentina, Colombia, Peru, Mexico and Brazil, as well as in North America, both on national television channels and digital streaming platforms,” he said.

"With the growing interest in Turkish series in recent years, there has also been a significant rise in demand among people in the region to learn Turkish. According to the latest services export data, Türkiye exports around $610 million worth of TV series annually, 22% of which goes to the Americas. Around 40% of Türkiye’s TV and film exports to the Americas reach service consumers in the Latin American market,” he added.

Bolat said Türkiye also recognized Latin America’s deep-rooted production experience in the sector, noting that Latin American TV series were also followed with great interest in Türkiye.

"By combining Latin America’s experience in TV and film production with Türkiye’s production strength, intensive cooperation can be developed in areas such as joint productions, adaptations, scriptwriting and format exchange,” he said.