One of Türkiye’s high business councils on Friday harassed an upward momentum within the nation’s relations with the United States, which it says gives vital alternatives that must be utilized.
The remarks by Murat Özyeğin, the pinnacle of the Türkiye-U.S. Business Council (TAIK) come forward of President Recep Tayyip Erdoğan’s deliberate journey to the U.S. in May. It would be the Turkish chief’s first official go to to Washington since Donald Trump was president.
Relations between the 2 NATO allies boast an extended historical past of navy 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 embrace 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.
Ties considerably thawed in current months notably after Ankara ratified Sweden’s NATO membership bid in January following a 20-month delay.
“I believe that the recent positive momentum in Türkiye’s relations with the United States presents a significant opportunity,” Özyeğin instructed a gathering with journalists in Istanbul.
“It is necessary and timely to increase our efforts to develop the relations in a more comprehensive and effective manner that creates value for both sides.”
Since President Joe Biden was elected in 2020, he and Erdoğan met a number of occasions on the sidelines of worldwide summits and spoken by telephone. Erdoğan’s final White House assembly was in 2019 with Trump.
Economic relations are anticipated to be among the many high points on the agenda when the 2 leaders meet on May 9, along with the Israel-Palestine battle, protection cooperation and the combat in opposition to terrorism.
Robust commerce
Türkiye and the U.S. intention for $100 billion in bilateral commerce, a goal endorsed by Erdoğan and Biden.
The U.S. has risen to develop into Türkiye’s second-biggest export market after Germany. Bilateral commerce quantity reached $31 billion in 2023, with $14.8 billion in exports, Özyeğin stated.
Exports within the first quarter of this yr rose by 8.3% to $3.16 billion, in response to the Turkish Exporters Assembly (TIM) information.
“Looking at Türkiye’s exports to the U.S., we observe an increase of approximately 60% over the past five years,” stated Özyeğin.
He stated U.S. investments in Türkiye have reached $14.3 billion, whereas Turkish investments within the U.S. amounted to round $9.7 billion.
“There are more than 2,000 companies in our country with U.S. capital. As TAİK, we will make intensive efforts in the coming period to achieve the $100 billion bilateral trade target,” he added.
Contacts between Ankara and Washington intensified for the reason that begin of Israel’s battle on Gaza.
Ankara has lengthy been crucial of the U.S. stance on the battle, notably Washington’s unconditional assist of the Netanyahu administration, which Erdoğan accused of committing battle crimes in Gaza.
Despite discord over the U.S. navy presence in Syria and U.S. assist for Israel, Washington and Ankara lately sealed a long-delayed deal for Türkiye to buy U.S. F-16 fighter jets.
Özyeğin famous intense diplomatic site visitors between Türkiye and the US amid current regional and world developments and stated optimistic developments in bilateral relations have been mirrored in financial ties as nicely.
“Considering the positive trajectory of relations between the two countries, we anticipate that this trend will continue in the future. Following Sweden’s approval of NATO membership and the steps taken by the U.S. regarding F-16, relations between the two countries will regain momentum,” he famous.
“The favorable atmosphere is expected to translate into concrete cooperation steps in the future. The potential for cooperation in third countries is also important.”
Özyeğin final month held talks with representatives from the U.S. Department of State, Department of Commerce, Senate and Congress, amid engagements sought to hold the momentum lately gained in bilateral relations into the financial sphere.
Meetings with buyers, funds
Erdoğan, amongst others, is predicted to attend roundtable conferences and maintain talks with the American business world and funding funds.
He can also be anticipated to attend the American-Turkish Conference (ATC), which Özyeğin says is taken into account a reference level for Turkish-American financial relations.
The thirty ninth version of the occasion in Washington on May 9-10 will function a panel collection centered on coverage, protection, power, digitalization and economic system with the participation of high officers from each international locations.
“While the meeting between American investors and our President stands out in this meeting, we attach great importance to our firms conveying their needs and problems to our President and feeling the support of the Turkish government behind them,” stated Özyeğin.
“Within this scope, during the roundtable meeting with leading investors of both countries, the parties will have the opportunity to convey their demands and concerns regarding investments and partnerships to our President.”
Among others, Özyeğin stated that the Türkiye Investment Conference, TAIK’s flagship occasion, shall be held with three separate occasions this yr, increasing the scope of actions.
“As part of the 14th Türkiye Investment Conference, which will be held in collaboration with Citi, we will bring together American fund managers and top executives of credit rating agencies with Türkiye’s Treasury and Finance Minister Mehmet Şimşek on April 22 in New York,” he famous.
The final occasion of the yr shall be held on Sept. 23-14, through the Nations General Assembly week.
Erdoğan, in addition to Şimşek and Trade Minister Ömer Bolat, are anticipated to fulfill American fund and portfolio managers and Fortune 100 executives, in response to Özyeğin.
Source: www.dailysabah.com
