The bilateral trade between Latin America and Turkey is more than 8 billion dollars now. In 2023 it is expected that to reach 20 billion dollars with the agreements made lately.
- CUBA : In December, Turkish Airlines will start direct flights between Istanbul- Havana. That will lead new investment opportunities. The country is developed in medicine. Food and fishing sectors are keep growing. The last agreements they made with USA make country more intresting. The products that have potential to be sold in Cuba are: white appliances and furniture. For Turkish investors, medicine can be a good field to invest. There are also some Turkish investors who opened hotels there.
- MEXICO: Turkey has 900 million dollars import from Mexico, 300 milllion dollars of export to Mexico. Turkey imports Automobile from there. And textile sector is rising. Turkey buys mostly automobiles and electronical devices. With the visit of Erdoğan last year to Mexico, the bilateral trade is developing. There are big potential in energy, construction, and infrastructure.
- COLOMBIA: The country is very important producer in mine and oil. Turkey is buying coal from Colombia and sells automative spare parts and textile. The bilateral trade between two countries is 120 million dollars. With the direct flights between İstanbul- Bogota, investors in both countries develop new negotiations.
- PANAMA: Turkey has a 40 mk. long water channel project in Istanbul. For this Project, Panama Channel Project will be patterned. It is declared that a collaboration will be made with the team of Panama Channel Extend Project. An agreement about building a platform for the cooperation of administrative and technical spesification, signed on 27th June in Panama City about the construction and management of cruising channels.
Recep Tayyip Erdoğan said that Turkey is interested in free trade agreements (FTA) with Latin American and Caribbean countries to strengthen the trade between. After his visits to the said countries last year, the investments changed direction correspondingly.