Ankara (Turkey News) During the Ministerial Council meeting of the Organisation for Economic Co-operation and Development (OECD) held in Paris, Turkish Minister of Trade Ömer Bolat emphasized the promotion of a rules-based multilateral trading system at the global level.
According to media reports, the two-day meeting is being held under the chairmanship of Finland, with special focus on growing trade deficits faced by Europe and the United States, as well as issues such as subsidized exports from East Asia and excess production capacity.
Addressing the session, the Turkish Minister of Trade warned that increasing protectionist trade measures by Western countries could prove harmful to the global economy.
He said that global trade freedom and strengthening a rules-based multilateral system centered on the World Trade Organization are the only way forward for economic development, growth, and improvement in global trade.
According to him, Türkiye has achieved significant success over the past two decades through export-led growth and liberal industrial policies.
He further said that the promotion of free trade and cooperative measures is essential for global economic stability, while new restrictions and protectionist policies could further worsen the situation.
The Minister also said that during the meeting, bilateral discussions were held with various countries regarding current economic challenges and possible solutions.
