The Turkish business world is getting ready for President Recep Tayyip Erdoğan‘s U.S. go to in May after a five-year hiatus, hoping that Turkish-U.S. commerce ties will additional develop.
The president’s earlier happened in 2019 when U.S. President Donald Trump and Erdoğan set a $100 billion bilateral commerce goal.
The bilateral annual commerce quantity, which was at $20.77 billion in 2019, rose to $30.6 billion in 2023, growing 47.3% throughout the five-year interval, in keeping with knowledge compiled by Anadolu from Turkish Statistical Institute knowledge.
The U.S. was the second important vacation spot for Türkiye’s exports final yr; Turkish exports to the U.S. elevated by 65% to $14.8 billion over the identical interval.
Murat Özyeğin, the top of Türkiye’s Foreign Economic Relations Board’s (DEIK) Türkiye-U.S. Business Council (TAIK), stated on Friday at a press convention that his group is able to work to extend the strategic mechanism between Türkiye and the U.S. to an axis the place financial and commerce relations are represented at a excessive stage.
He said that TAIK is quickly persevering with engagement in Washington and New York in an effort to carry the latest momentum in Turkish-American relations to the sector of financial system.
POSITIVE MOMENTUM IN RELATIONS
Pointing out that strategic alliances have turn into rather more necessary in a quickly altering international financial and political setting, Özyeğin stated: “We are witnessing a period of rapid change characterized by significant geopolitical transformations that affect lives and livelihoods, fueled by accelerating technological advances and new economic paradigms.”
Stating that the latest optimistic momentum in Türkiye’s relations with the U.S. presents a fantastic alternative, he stated: “I imagine that it’s mandatory and well timed to extend our efforts to develop relations in a extra complete and efficient method that can create worth for either side.
“As TAIK, our goal is to carry the increasing level of cooperation even further and to work together to identify the common areas of both countries.”
He additionally stated that U.S. investments reached $14.3 billion in Türkiye and Turkish investments totaled $9.7 billion within the U.S. up to now; Türkiye has over 2,000 U.S.-origin firms.
IMPACT OF RECENT REGIONAL, GLOBAL DEVELOPMENTS
He said that there was intense contact site visitors in Türkiye-U.S. relations with the influence of latest regional and international developments and {that a} optimistic environment has been noticed in financial phrases.
Emphasizing that the optimistic course of bilateral relations will proceed within the coming interval, he stated: “Following the approval of Sweden’s membership to NATO and the steps taken by the U.S. on the F-16 issue, relations between the two countries will gain momentum again. In the coming period, the moderate atmosphere is expected to turn into concrete cooperation steps.”
Stating that the potential for cooperation with the U.S. in third international locations can be necessary, he famous that TAIK has signed a cooperation settlement with the American Turkish Business Roundtable (ATBR) inside the scope of the thirteenth Türkiye Investment Conference in September 2023, witnessed by President Erdoğan.
“The existence of such a strong institution between Türkiye and the U.S. will give a new momentum to bilateral economic relations.”
TÜRKİYE INVESTMENT CONFERENCE
Özyeğin additionally said that the Türkiye Investment Conference, which is the model occasion of TAIK, will probably be organized with three occasions and expanded actions this yr.
He stated the 14th Türkiye Investment Conference to be held by TAIK will deliver collectively American fund managers and senior executives of credit standing companies and the Minister of Treasury and Finance Mehmet Şimşek in New York on April 22.
Özyeğin said that the final Türkiey Investment Conference of the yr will probably be held on Sept. 23-24 inside the scope of the UN General Assembly week, and stated: “We will bring together U.S. fund and portfolio managers with Mehmet Şimşek and Minister of Trade Ömer Bolat. Our President Recep Tayyip Erdoğan will meet with leading business people and Fortune 100 executives of the U.S.”
Şimşek, presently within the U.S., is already assembly with officers.
Previously, Şimşek and the Turkish Central Bank governor additionally held conferences within the U.S. with Fed and financial system officers.
Stating that the America Türkiye Conference (ATC) is taken into account one of many reference factors of Turkish-American relations, Özyeğin stated they’ll maintain the thirty ninth ATC in Washington on May 9-10 after a protracted break.
He famous that President Erdoğan’s assembly with U.S. President Joe Biden can be deliberate and stated: “As TAIK, we have started our work to arrange the president’s meetings with the U.S. private sector.”
Source: www.anews.com.tr
