“OUR AIM WITH THE US: ACHIEVING A $100-BILLION MILESTONE”

Our economic and commercial engagements with the United States constitute a crucial dimension of our bilateral relations

DEİK/Türkiye-U.S. Business Council (TAİK) hosted the 13th Türkiye Investment Conference Gala Dinner and Round Table Meeting. The meeting, which took place on September 20, 2023, in New York, was hosted by DEİK President Nail Olpak and TAİK Chairperson Mehmet Ali Yalçındağ. It saw the participation of Turkish President Recep Tayyip Erdoğan, Turkish Minister of Trade Ömer Bolat, Turkish Minister of Treasury and Finance Mehmet Şimşek, Turkish Minister of Industry and Technology Mehmet Fatih Kacır, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar, Turkish Minister of Family and Social Services Mahinur Özdemir, Turkish Ambassador to the UN Sedat Önal, Turkish Ambassador to Washington Murat Mercan, and Head of the Investment Office Ahmet Burak Dağlıoğlu.

The Gala Dinner, attended by prominent figures from the Turkish and American business sectors, underscored the significance of bilateral trade and economic relations, emphasizing the need for collaboration. Held for the thirteenth consecutive year, the Gala Dinner of the Türkiye Investment Conference brought together approximately 180 guests, including key figures from the Turkish business community and high-ranking executives from leading US investor companies.

PRESIDENT ERDOĞAN: “WE MUST DIVERSIFY OUR ECONOMIC COOPERATION”

Addressing the Gala Dinner of the 13th Türkiye Investment Conference, Turkish President Recep Tayyip Erdoğan remarked, “As we progress in our political relations with the United States, it is equally important to diversify our collaboration in the economic domain. In various domains, spanning from new and groundbreaking technologies to vital sectors, encompassing innovation, manufacturing, artificial intelligence, and cyber security, we recognize significant potential between our two countries. Our economic and commercial engagements with the United States constitute a crucial dimension of our bilateral relations. Our bilateral trade volume has increased 1.5 times in the last 10 years. In the previous year, the United States emerged as the second-largest exporter and the fifth-largest importer in our trade relations. By the conclusion of 2022, our bilateral trade volume surged by over 15 percent, surpassing 32 billion USD. However, our target is to reach 100 billion USD.”

ÖMER BOLAT: “THE INTEREST OF US COMPANIES IN OUR COUNTRY IN THE LAST 20 YEARS IS REMARKABLE”

Prof. Dr. Ömer Bolat, the Minister of Trade of the Republic of Türkiye, stated that the number of international companies operating in Türkiye has risen from approximately 6 thousand in 2002 to over 80 thousand today. He added, “US investor companies have designated Türkiye as a production and export base, contributing investments amounting to 14.5 billion USD. In this regard, 2 thousand companies from the United States, the largest foreign investor country after the Netherlands, have generated employment opportunities for 110 thousand people in Türkiye.” Bolat emphasized that Türkiye serves as a robust partner for multinational companies seeking to diversify their supply chains and supply channels. He highlighted Türkiye’s geostrategic location, advanced production capabilities, international free trade networks, and skilled workforce, making it an ideal destination for investments in digital and green transformation.

DEİK President Nail Olpak stated, “On September 19, we successfully convened our 13th Türkiye Investment Conference hosted by Goldman Sachs, featuring the presence of our Minister of Trade Prof. Dr. Ömer Bolat, Minister of Treasury and Finance Mehmet Şimşek, and 200 participants, with 120 of them being Americans. Following the presentations in our program, a productive 2.5 hours of mutual discussions ensued. This timeframe also reflects the effectiveness of the meeting. We plan to maintain our efforts in the same format next year.” Mehmet Ali Yalçındağ, Chairperson of DEİK/Türkiye- U.S. Business Council (TAİK), emphasized, “The Turkish market hosts over 2,000 American companies, benefiting from its skilled workforce and strategic location. Our objective is to achieve a 100 billion dollar trade target.As representatives of the business community, we are ready to make every effort to accelerate this process. We believe that we should aim for this goal with all our projects and work.”

 

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