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Minister Bolat: Striving for a $100 Billion Trade Volume with the USA
Minister of Commerce Ömer Bolat Highlights Investment Opportunities in Turkey for US Business People
Minister of Commerce Ömer Bolat recently attended the Trade Winds Europe-Eurasia Forum, where he spoke to over 120 American companies about the investment opportunities available in Turkey. The forum, organized by the US Department of Commerce, aims to foster trade and business development between Europe, Eurasia, and the United States.
During his presentation at the forum, Minister Bolat emphasized the success of proactive policies implemented in Turkey over the past two decades, which have led to a total of $265 billion in foreign investments between 2002 and 2024. He noted that US companies are increasingly viewing Turkey as a prime location for production and exports, with the USA now being Turkey’s second-largest export market.
Furthermore, Minister Bolat highlighted the significant increase in US-based investments in Turkey, amounting to $15 billion. This has made the USA the second-largest foreign investor in Turkey, with over 2000 American companies contributing to the Turkish economy and employing over 110 thousand people.
Minister Bolat expressed confidence in exceeding the $100 billion trade volume target set by the heads of state, stating that with determination and collaboration between US and Turkish business circles, this target is achievable. He highlighted the potential for further economic ties and increased commercial relations between the two countries.
In addition to discussing investment opportunities, Minister Bolat also shared key economic data about Turkey’s growth and prosperity. Turkey’s economy has shown consistent growth, with GDP surpassing $1 trillion in 2023 for the first time. The country has become the 11th largest economy in the world in terms of purchasing power parity, with exports exceeding $355 billion and significant growth in goods and services exports.
As Turkey looks towards sustaining its economic growth and competitiveness in the global market, Minister Bolat emphasized the importance of supporting local businesses and creating a conducive environment for business and investment. The positive developments in the Turkish economy reflect the country’s commitment to fostering strong economic ties with international partners like the USA.
