Ankara Says U.S. To Deepen Economic And Trade Relations With Turkey

US committed to pursuing more commercial opportunities with Turkey, says commerce secretary

Wilbur Ross ICBPS Turkey Natural Gas Imports Iran's Trade Value With Turkey Ankara Says U.S. To Deepen Economic And Trade Relations With Turkey ICBPS Anadolu Agency
Ankara Says U.S. To Deepen Economic And Trade Relations With Turkey - Photo By Anadolu Agency.

Anadolu AgencyAnkara says U.S. to deepen economic and trade relations with Turkey. The US’ liquefied natural gas (LNG) exports to Turkey can play a key role in reaching the countries’ bilateral trade volume target of $100 billion, the US commerce secretary said Tuesday.

“Despite the economic challenges faced by both nations during the COV-19 pandemic, the US is committed to pursuing more commercial opportunities with Turkey,” Wilbur Ross told the 38th American-Turkish Conference, held virtually due to the pandemic.

In June 2019, Turkish President Recep Tayyip Erdogan and his US counterpart President Donald Trump raised the bilateral trade goal from $75 billion to $100 billion.

The number of US companies operating in Turkey stands at 1,700, Ross noted, adding that 60 of them have regional headquarters in the country.

Noting that the 2019 trade volume between Turkey and the US was around $20.6 billion, Ross underlined that after years of trade surpluses, the US concluded the year with a trade deficit of $600 million with Turkey.

“It is of great concern that US exports to Turkey have fallen from $11.7 billion to $10 billion between 2014 and 2019,” Ross said.

He also invited Turkish businesses to participate in an investment summit set for next June in Washington.

“We look forward to deepening both our economic and commercial relationship in the years to come,” Ross noted.

Focusing on bilateral economic, trade, and strategic ties, the 38th American-Turkish Conference is co-organized by the Turkey-US Business Council (TAIK) of Turkey’s Foreign Economic Relations Board (DEIK) and the US Chamber of Commerce.

The four-day event ends on Thursday.

Institute of Capacity Building for Political Studies, ICBPS. All Rights Reserved. Follow us on Twitter: @ICBPS_En

Share on facebook
Facebook
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on telegram
Telegram
Share on reddit
Reddit
Share on linkedin
LinkedIn
Share on tumblr
Tumblr
Share on email
Email
Share on digg
Digg
Share on pocket
Pocket

Sign Up for

Our Newsletter

Subscribe to us to always stay in touch with us and get the latest news
about our company and all of our activities!