Erdogan: Türkiye’s defence exports to top $4B this year

Turkish President Erdogan also says the government would increase the country’s oil production to 100,000 barrels per day next year.

Türkiye’s defence exports, which were at $248 million two decades ago, are set this year to top $4 billion, President Recep Tayyip Erdogan has said.

Speaking on Monday at Innovation Week, an event organised by the Turkish Exporters’ Assembly (TIM) in Istanbul, Erdogan said the number of defence companies rose from 56 to over 1,600 over the last two decades.

TOGG, the country’s electric car project, will take to the roads in a couple of months, he said.

The project was started in 2018 and began its mass production phase last October.

Touching on the country’s oil reserves, he said the government would increase oil production to 100,000 barrels per day next year.

Stressing Türkiye will resolve the high cost of living issue, which is the world’s main problem, including Europe and the US, the president said: “We will continue our struggle with determination until we include Türkiye among the top 10 economies of the world.”