US Firms Keen on Investment Opportunities in Turkey
Trade Minister Ömer Bolat has made significant progress in strengthening Turkish-American trade relations during his recent visit to New York alongside President Recep Tayyip Erdoğan at the 79th United Nations General Assembly.
In a roundtable meeting organized by the Foreign Economic Relations Board Turkey-USA Business Council, chaired by President Erdoğan, Bolat discussed the importance of direct investment in Turkey with representatives from the American and Turkish business communities. The meeting was deemed productive and saw increased participation compared to previous meetings.
Bolat highlighted that American companies have shown a keen interest in expanding their investments in Turkey, recognizing the country as an important investment and logistics base. The success of Turkey’s macroeconomic policies, particularly the Medium Term Program, has been closely monitored by the Americans, leading to positive sentiment towards further business opportunities.
With the US being the second-largest market for Turkey’s exports and the fifth-largest partner for imports, Bolat expressed hope for continued growth in trade between the two nations. Despite challenges posed by the COVID-19 pandemic, trade volume between Turkey and the US is expected to surpass $35 billion this year.
Looking ahead, Bolat underscored the importance of global economic growth and trade acceleration in boosting exports and creating new market opportunities. With potential market shifts due to increasing import measures against Chinese products, Turkey aims to capitalize on its strategic location for quicker access to European and American markets.
Overall, Bolat expressed optimism about the future of Turkish-American trade relations, aiming to increase exports to the US in the coming period and setting ambitious targets for mutual trade volume. As interest rate cuts and economic policies evolve, Turkey is well-positioned to leverage these changes for enhanced trade cooperation and investment opportunities.
