Turkish president says restrictions on defense-industry sales among NATO members should be lifted to speed joint projects.
MoneyTurkey Politics Desk | 3 November 2026
Key points
- Erdogan told a joint press conference in Seoul that Ankara wants more joint defense projects with South Korea, citing Firtina howitzers and Altay tanks as models.
- Ankara and Seoul signed four memoranda covering science, technology, natural resources, energy and nuclear power project financing.
Turkish President Recep Tayyip Erdogan called on NATO allies to lift certain restrictions on defense-industry product trade, Anadolu Agency reported. Speaking during a state visit to South Korea, Erdogan said the defense sector is already delivering concrete results and should be expanded through additional joint projects. The remarks come ahead of a NATO summit that Turkey is hosting in Ankara.
What happened
Erdogan made the appeal at a joint news conference with South Korean President Lee Jae Myung in Seoul, according to Anadolu Agency. He said Turkey and South Korea already share similar views on global issues and should increase the number of successful joint defense programs such as the Firtina howitzers and Altay tanks.
The two leaders also discussed expanding bilateral trade from last year’s $11 billion to a $15 billion target. Erdogan said the countries are updating their Free Trade Agreement and launching joint projects in third markets where Turkey has a strong presence.
Four memoranda of understanding were signed covering science, technology and innovation, natural resources and mining, energy, and nuclear power project financing. The agreements were signed by Turkish Foreign Minister Hakan Fidan, Energy Minister Alparslan Bayraktar and their South Korean counterparts.
What is at stake for markets
Defense contractors in both countries stand to gain if export licensing and co-production rules are eased, Anadolu Agency reported. Turkish officials have previously said such barriers slow technology transfer and raise costs for programs already under way.
Energy and mining firms could also see new financing channels if the nuclear-power and natural-resources pacts move to implementation. Erdogan noted that a November 2025 memorandum between the Turkish Nuclear Energy Company and Korea Electric Power Corporation had already laid groundwork for further cooperation.
The trade target of $15 billion would require faster customs procedures and updated tariff schedules, according to the same Anadolu dispatch. Officials said the revised Free Trade Agreement is meant to reflect current supply-chain conditions in autos, electronics and machinery.
Why it matters
Turkey is preparing to host a NATO summit in Ankara, Anadolu Agency reported. Erdogan’s call to remove intra-alliance defense-trade curbs is aimed at allies whose export controls have limited Turkish firms’ access to components and co-development deals.
South Korea is one of several NATO partners with which Ankara is deepening defense ties. Earlier this week Turkey’s defense minister met his Japanese counterpart and the head of BAE Systems ahead of the summit, Anadolu Agency said.
The diplomatic push coincides with separate efforts to expand agricultural and mining partnerships in Africa and Central Asia, according to Turkish Trade Minister Omer Bolat. Those initiatives are part of Ankara’s 2025-2029 commercial strategy but are secondary to the defense agenda at the NATO meeting.
What to watch
- Details of any NATO statement on defense-industrial cooperation
- Progress on updating the Turkey-South Korea Free Trade Agreement
- Implementation timeline for the nuclear and mining memoranda
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For information only. Not investment advice.
Sources
- Anadolu: https://www.aa.com.tr/en/live-blog/turkish-president-calls-for-lifting-certain-restrictions-on-defense-industry-product-trade-among-nato-allies/4972
- Anadolu: https://www.aa.com.tr/en/live-blog/turkish-president-engages-in-intense-diplomacy-on-sidelines-of-unga/6474
- Anadolu: https://www.aa.com.tr/en/live-blog/turkish-president-erdogan-calls-for-lifting-defense-cooperation-restrictions-among-nato-allies/4819
- Anadolu: https://aa.com.tr/en/economy/turkiye-aims-to-boost-agricultural-partnership-with-africa-trade-minister-says/4109819
- Anadolu: https://www.aa.com.tr/en/turkiye/turkish-president-erdogan-calls-for-more-joint-defense-projects-with-south-korea/4109719
- Daily Sabah: https://www.dailysabah.com/business/finance/criminal-network-uncovered-behind-turkish-fund-scandal-minister/amp
- Anadolu: https://aa.com.tr/en/turkiye/turkish-president-erdogan-stresses-historic-friendship-with-south-korea/4110015
- Daily Sabah: https://www.dailysabah.com/politics/erdogan-hails-anatolian-revolution-of-2002-with-ak-party-win/news
- Anadolu: https://www.aa.com.tr/en/live-blog/turkiyes-defense-minister-meets-japanese-counterpart-bae-systems-chief-ahead-of-nato-summit/4558
- Anadolu: https://www.aa.com.tr/en/live-blog/turkish-president-erdogan-hosts-nato-leaders-spouses-at-reception-dinner-in-ankara/4653
