U.S. Assistant Secretary of Commerce for International Markets Arun Venkataraman on Sunday expressed optimism concerning the potential for vital development in commerce between america and Türkiye, highlighting the significance of the “deep strategic partnership” between the 2 international locations.
“I believe we’re at a singular turning level in historical past. We have now such a deep strategic partnership,” Arun Venkataraman stated in his interview with Anadolu Company (AA) sharing his evaluation of Türkiye-U.S. commerce relations.
Underlining the decadeslong presence of many American corporations in Türkiye, Venkataraman stated the nation was on a “nice trajectory,” with a “actual alternative for the U.S.-Turkish enterprise to develop exponentially.”
On the aim to realize a $100 billion commerce quantity between america and Türkiye, he stated it was attainable “given the depth of economic relations, given the entrepreneurship that exists in each international locations.”
Venkataraman additionally pressured that each Ankara and Washington wanted to work towards this aim. “We have now to set the proper insurance policies in place to verify we are able to encourage commerce between our peoples.”
An annual U.S. commerce convention titled Commerce Winds is scheduled to happen within the Turkish metropolis of Istanbul in Could, he stated, including that the U.S. commerce delegation can be the biggest but attending the convention.
“We hope to essentially have the ability to increase U.S.-Turkish enterprise ties with concrete connections between corporations, and we expect that is a very good first step in the direction of attaining that aim,” Venkataraman expressed concerning the convention.
In accordance with knowledge from the Turkish Exporters Meeting (TIM), Türkiye’s exports to the U.S. reached $16.9 billion final yr, whereas imports from the nation amounted to $15.2 billion.
This resulted in a commerce quantity of over $32 billion between the 2 nations, surpassing the roughly $28 billion recorded in 2021.
Chemical substances had been the main class in Türkiye’s exports to the U.S., adopted by automotive, metal and the ready-to-wear attire trade.
Türkiye and the U.S. goal for $100 billion in bilateral commerce, a goal endorsed by President Recep Tayyip Erdoğan and his American counterpart, Joe Biden.
The financial relations between Türkiye and america have maintained tempo up to now couple of years regardless of political disagreements on a number of points together with stalled F-16 gross sales.