News about Turkey
The Republic of Moldova and Turkey have begun exploring opportunities for cooperation in the defense industry, including the production of military equipment, surveillance systems, and defense technologies, drawing on the experience and capabilities of Turkish industry in this field.
For the first time in a long while, Turkey’s tourism industry has faced a decline in revenue. In the second quarter of 2026, tourism revenue fell by 2.6% year-over-year to $15.9 billion. At the same time, the number of foreign visitors declined, while Turkish residents themselves began traveling abroad for vacations significantly more often.
Turkey and Moldova discussed measures to deepen their economic and strategic cooperation, including in the areas of trade, defense technology, and investment, said Turkish Trade Minister Ömer Bolat.
Turkish President Recep Tayyip Erdoğan presented participants at the NATO summit in Ankara with an unusual parting gift—personalized Gümüşay revolvers with a set of .357 Magnum-caliber rounds. According to Reuters, it was this diplomatic souvenir that prompted many leaders to ask questions about the rules governing the import, storage, and registration of firearms.
U.S. President Donald Trump is heading to the NATO summit in a “bad mood,” so it is unclear whether the event will go smoothly.
Turkey has submitted an official application to the European Payments Council (EPC) expressing its intention to join the Single Euro Payments Area (SEPA). The document emphasizes that Ankara’s participation in this area will enable faster, safer, and cheaper cross-border transfers, which will give a powerful boost to mutual trade and investment with European Union countries.
The European Anti-Fraud Office (OLAF), in collaboration with Italian law enforcement agencies and Turkish customs authorities, has uncovered a scheme involving the illegal export of approximately 7,100 metric tons of textile waste from Italy to Turkey. According to investigators, the organizers circumvented costly environmental regulations by passing off the waste as reusable textiles.
Turkey will host the leaders of all 32 NATO member countries in Ankara on July 7–8 as part of the 36th NATO Summit. Also in attendance will be dozens of invited leaders, nearly 100 ministers, high-ranking diplomats, representatives of international organizations, and thousands of foreign guests.
A second drone, whose origin has not yet been determined, has been discovered on Turkey’s Black Sea coast in the past five days. The drone was washed ashore by the waves on Çakraz Beach in the Amasra district of Bartın Province.
Turkish President Recep Tayyip Erdogan received Venezuelan Interim President Delcy Rodriguez, who arrived in Ankara at his invitation. The meeting focused on the steps needed to achieve the goal of increasing bilateral trade to $3 billion.
The Baku-Tbilisi-Ceyhan pipeline (BTC) has transported about 557 million tons of Azerbaijani oil over the 20 years of its operation.
The Republic of Moldova and Turkey seek to enhance cooperation in the fields of culture, heritage and tourism by launching joint projects aimed at bringing the two societies closer together.
Turkish resorts are forced to cut prices and launch large-scale discount offers amid a noticeable drop in tourist demand. Hoteliers are trying in this way to keep the load at the peak of the season, while, according to market participants, the country may lose about 8-10 million dollars daily due to the reduction in tourist traffic.
Turkey’s economy slowed in the first quarter. The central bank tightened monetary policy to reduce risks associated with the conflict with Iran. The shock caused volatility in the energy market and complicated the Turkish central bank’s efforts to curb inflation. Turkey imports a significant amount of oil and natural gas, making its economy particularly sensitive to changes in global energy prices.
Turkey’s state-owned banks were forced to make large-scale currency interventions following a court ruling against a Turkish opposition leader, and the stock market collapsed 6.1 percent in a short time.
On Friday, investment bank JPMorgan warned that Turkey’s central bank is likely to raise its key interest rate to 40%. The increase could come before the next scheduled meeting in June, given the current market volatility caused by political factors.
The government is preparing to approve the establishment of the Recep Tayyip Erdogan Moldovan-Turkish College in Comrat, based on bilateral cooperation between the Republic of Moldova and the Republic of Turkey in vocational education. The corresponding project was discussed at a meeting of the secretaries general.
As of January 31, 2025, the countries with the highest incarceration rates were Turkey (458 prisoners per 100,000 inhabitants), Azerbaijan (271), Republic of Moldova (245), Georgia (232), Hungary (206), Montenegro (200), Albania (192), Poland (189), Latvia (189), Czech Republic (178), Serbia (174), Lithuania (154), and Slovakia (151).
Romania’s Ministry of Finance released a stunning report on May 13 detailing a massive, repeated flow of cash across the country’s borders throughout 2024 and 2025.
The period from 2026 to 2035 has been declared the “Decade of Family and Demography” in Turkey.
