The Right Steps to Reaching $ 100 Billion Turkey-U.S. Trade Target: Erdoğan

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Turkey and the United States are on the same wavelength when it comes to wanting to significantly increase their bilateral trade, President Recep Tayyip Erdoğan said on Tuesday, stressing the need to strengthen dialogue and cooperation to achieve the “true full potential” of economic partnership.

Erdoğan’s remarks came during a meeting with American businessmen at an event hosted by the Turkey-United States Business Council (TAIK) in New York.

The president said the 70-year alliance between the two countries has contributed to world peace.

“This cooperation of ours, based on unique and solid foundations, has contributed to peace, stability and security in many parts of the world for years,” he noted.

“The critical developments of recent times have once again demonstrated the importance and value of the strategic partnership between our countries.

Erdoğan noted that differences of opinion may arise from time to time between the two NATO allies, but can be overcome through dialogue, solidarity and mutual respect, highlighting the opportunities for cooperation between Turkey and the states. -United in the fields of security, defense and investments.

“This perspective shows that the Turkish-American relationship has the capacity and maturity to overcome any difficulties that may arise. What matters is that the two countries have a strong political understanding and a will in this direction, “said Erdoğan, stressing that he and his American counterpart Joe Biden reaffirmed their common determination on this issue during the” meeting. sincere and comprehensive ”they had in Brussels. June 14.

Noting that Biden also fully understands that the development of economic relations between the two countries is “both possible and necessary,” Erdoğan reiterated the two leaders’ determination to increase the volume of bilateral trade to $ 100 billion (863.57 billion TL).

“We agree that this is a realistic goal that can be easily achieved if the right steps are taken,” the president noted.

President Recep Tayyip Erdoğan (2nd from right), Minister of Commerce Mehmet Muş (left), President of the Turkey-United States Business Council (TAIK) Mehmet Ali Yalçındağ (2nd from left) and the head of the Relations Council Economics (DEIK) Nail Olpak at the 11th Turkey Investment Conference in New York, USA, September 21, 2021. (AA Photo)

Bilateral trade reached $ 21 billion over the past year despite pandemic conditions, Erdoğan said, noting that the United States is Turkey’s third-largest export market.

Expressing his hope that the trade volume will reach $ 25 billion by the end of 2021, he went on to say that mutual investments play an important role in developing economic and trade relations.

“If we can use the benefits of the post-pandemic period with you business people, I think we can easily meet the $ 100 billion target.”

The number of US-based companies operating in Turkey had reached 1,971 in June 2021, and US direct investment in Turkey reached $ 13 billion, he noted.

He added that Turkish investors, on the other hand, have made direct investments worth $ 7.2 billion in the United States, drawing more attention to global trade with profitable production opportunities and large, well-trained workforce and modern logistics infrastructure.

Erdoğan cited that Turkey ranked second among the G-20 countries with its growth rate of 1.8% last year and became one of the countries that increased its industrial production within the G -20 during the same period.

One of the ways to strengthen economic and trade cooperation is to diversify cooperation, he said.

“The field of energy offers serious opportunities for both countries … I believe that our cooperation in this field will progress further in the coming period.”

Describing the businessmen as envoys of friendship and partnership between two countries, Erdoğan said Turkey and the United States should strengthen dialogue and cooperation to achieve the “true full potential” of economic partnership and commercial.


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