TRELODEX | Turkish president calls for 100-bln-USD trade with U.S.
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Sep 10 2019

Turkish president calls for 100-bln-USD trade with U.S.

According to Yanf Xinhua:

Turkey’s President Recep Tayyip Erdogan on Tuesday called for U.S. investment in Turkey, stressing that Ankara expects to reach a 100-billion-dollar trade target with the United States.

“We want more U.S. companies to invest in our country. We are ready to provide every necessary support to the U.S. investors,” Erdogan said at a press conference with U.S. Secretary of Commerce Wilbur Ross.

The Turkish president said that he discussed about starting negotiations on a free trade agreement with U.S. President Donald Trump, and ministers of the two countries will start working on it soon.

“The 20-billion-dollar trade volume between Turkey and the U.S. is below our true potential. We have agreed to upgrade our trade volume to 100 billion dollars with President Trump in our last meeting, in Osaka. We have begun to take concrete steps regarding this,” he stated.

The U.S. trade official also met with his Turkish counterpart Ruhsar Pekcan earlier as part of his five-day visit to Turkey.

Recalling the target of reaching 100-billion-dollar trade, Ross said that “we anticipate it to consist of 50 billion dollars more from the U.S. side to Turkey and 50 billion dollars more from the Turkish side to U.S.”

Pekcan said the two sides prioritized various sectors such as textile, furniture, marble, automotive, civil aviation, cement, and chemicals to increase bilateral trade volume.

She noted that their discussions also focused on the issues faced by important sectors, particularly the steel sector in Turkey.

The two countries decided to set up sectoral committees under the chairmanship of the two countries’ trade ministries, Pekcan added.

 

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