Turkish President underscores significance of economic collaboration between Turkey, US
Date
9/25/2024 8:21:37 AM
(MENAFN) Turkish President Recep Tayyip Erdogan underscored the significance of economic collaboration between Turkey and the United States, describing it as "one of the most important" dimensions of their bilateral relationship. Speaking at a roundtable meeting with American and Turkish business leaders during the 15th Turkey investment Conference hosted by the Turkey-U.S. Business Council (TAİK), Erdogan highlighted the vital role that economic and trade issues play in strengthening ties between the two nations.
Having arrived in New York over the weekend to participate in the 79th session of the United Nations General Assembly, Erdogan is actively engaging in closed-door discussions with various international counterparts. He noted that for the past two years, the United States has consistently ranked as Turkey’s second-largest export market and fifth-largest source of imports. In 2023, the bilateral trade volume between the two countries exceeded USD30 billion, a figure Erdogan believes can significantly increase.
Erdogan expressed optimism about reaching a shared goal of USD100 billion in trade volume, emphasizing the need to move away from unilateral practices that hinder this growth. He specifically pointed to the imposition of additional customs duties in sectors like iron, steel, and aluminum, as well as ongoing investigations and sanctions under the Countering America's Adversaries Through Sanctions Act (CAATSA), which he believes should be discontinued to foster a more favorable trading environment.
Furthermore, he addressed the challenges in defense industry cooperation, acknowledging that it has "unfortunately fallen far short of its potential" in recent years due to various restrictions. Erdogan expressed hope that recent developments, particularly the F-16 fighter jet modernization project, would mark a new chapter in defense collaboration, leading to the permanent removal of export barriers in this critical area.
In addition to trade and defense, Erdogan called for enhanced support for Turkish companies seeking to enter the American market, particularly in terms of facilitating necessary visas. His remarks signal a commitment to deepening economic ties and fostering a mutually beneficial relationship that could yield significant advantages for both nations in the future.
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