The financial relations between Türkiye and the United States have maintained tempo within the first half of this yr, business associations stated Monday, citing progress and efforts to realize a mutual commerce goal set by the NATO allies.
Ties between Türkiye and the U.S. boast a protracted historical past of army and financial cooperation, however their strategic partnership has seen many diplomatic ups and downs over the current years over a number of challenges and disagreements.
The disputes embody the U.S.’ cooperation with the PKK terrorist group’s Syrian wing, the YPG, its stance towards the Gülenist Terror Group (FETÖ), disagreements over Ankara’s buy of Russia’s S-400 air protection system and Washington’s sanctions in opposition to Türkiye.
Still, the connection between the 2 nations constitutes one of the crucial vital and well-established strategic relations on the earth, in line with Tankut Turnaoğlu, head of the American Chamber of Commerce (AmCham) in Türkiye. He says commerce and investments have performed a key function within the strategic relationship.
AmCham Türkiye represents 125 U.S.-based firms that contribute some $60 billion (TL 1.62 trillion) to the Turkish financial system, in line with Turnaoğlu.
Intensified talks between the 2 nations’ leaders and diplomats during the last two years, the launch of a strategic mechanism and Ankara’s function within the Ukraine struggle have signaled intentions to fix and strengthen ties.
Türkiye and the U.S. purpose for $100 billion in bilateral commerce, a goal endorsed by President Recep Tayyip Erdoğan and his American counterpart, Joe Biden.
The Biden administration has additionally repeatedly expressed its help for Türkiye’s request from October 2021 to purchase $20 billion of Lockheed Martin Corp. F-16 fighters and almost 80 modernization kits for its present warplanes.
The extended course of, opposed by some members of the U.S. Congress, has pissed off Türkiye, which nonetheless waits to get a inexperienced gentle for the deal despite the fact that Biden has signaled that the U.S. supposed to proceed with the sale.
“I’m much more optimistic than I’ve ever been,” Erdoğan stated when requested in regards to the F-16 deal after he met with Biden on the sidelines of the NATO summit in Vilnius, Lithuania, earlier this month.
Erdoğan dubbed his earlier conferences with Biden as “warm-up sessions” and stated a brand new interval would begin between Türkiye and the U.S.
Türkiye-U.S. Business Council (TAIK) Chair Mehmet Ali Yalçındağ additionally stated the leaders’ assembly in Vilnius launched a brand new course of. “We want to accelerate trade relations even more with this momentum,” Yalçındağ stated in an announcement, citing cooperation within the protection trade that he says is anticipated to realize additional tempo within the coming interval.
The bilateral commerce quantity reached $31.3 billion during the last 12 months, together with $15.9 billion of Türkiye’s exports and imports, which stood at $15.4 billion, in line with Turnaoğlu.
Shipments to the U.S. in June alone hit $1.3 billion, making Türkiye’s second largest export market after Germany. Yalçındağ says year-end commerce quantity would exceed $30 billion.
Turnaoğlu added that as a part of Türkiye’s precedence to develop U.S. investments and commerce, “we continue to contribute to the goal of bilateral trade reaching the level of $100 billion.”
To again this aim, Yalçındağ stated they’d host a significant funding convention within the U.S. in September, which can host Treasury and Finance Minister Mehmet Şimşek and Central Bank of the Republic of Türkiye (CBRT) Governor Hafize Gaye Erkan with American companies and main monetary establishments.
Yalçındağ additionally knowledgeable Erdoğan is anticipated to fulfill with prime executives of the 25 Fortune100 American firms.
Turnaoğlu harassed some American firms see Türkiye as a regional heart. “About 20 of our members in our association manage about 80 countries from Türkiye. We are also continuing our work within the scope of our third priority, which we aim to ensure greater participation of Turkish companies in our ecosystem in the global value chain,” he stated.
Yalçındağ stated Türkiye’s mediator efforts within the struggle in Ukraine, together with the brokering of the landmark Black Sea grain deal, which was halted by Russia earlier this month, showcased the significance of Türkiye’s strategic function.
He additionally stated they’ve been positioning Türkiye as a substitute market to China throughout talks with state officers. “We have already started to see a positive return of this,” Yalçındağ added.
Source: www.dailysabah.com
