Last week, senior executives from large US-based companies participated in a panel discussion with Turkish President Recep Tayyip ErdoÄan, where they revealed their confidence in the Turkish economy and stressed that they were preparing new investments.
ErdoÄan held an online meeting with senior executives from 26 US-based global companies on May 26, hosted by the US Chamber of Commerce, the Turkish Presidency’s Investment Office, the Turkish Embassy and Union of Chambers and Commodity Exchanges of Turkey (TOBB).
Major companies participated including Cargill, DowAksa, Hilton, MetLife, Netflix, Boeing, Kellogg, Google, General Electric, Varian Medical Systems, PepsiCo, Amazon, Cheniere Energy, Citi, P&G, Progress Rail, Tellurian, Medtronic, Archer Daniels Midland, Microsoft, Cisco, Honeywell Aerospace, Nova Power Solutions, Coca-Cola, Johnson & Johnson and Baker Hughes.
ErdoÄan listened one by one to business leaders from sectors such as agriculture, energy, finance, health, IT, tourism and aviation during the meeting and answered their questions. .
Company executives were quoted by Anadolu (AA) on Monday as saying they were focusing on establishing a deeper and more dynamic relationship with Turkey and developing cooperation.
They said that strengthening trade dialogue in this direction would help flatten the Free Trade Agreement (FTA) between Turkey and the United States and update the Customs Union between Turkey and the European Union.
There is huge potential with many opportunities for greater cooperation between the two countries in all areas of the economy, they added.
The leaders also indicated that a much higher volume of trade in bilateral trade relations can be achieved through the quality of products and services provided by Turkey.
Trade between Turkey and the United States reached around $ 21 billion in 2019, and NATO allies have said they aim to increase it to $ 100 billion.
Bilateral trade has grown steadily over the past few years, and even the coronavirus pandemic could not prevent the volume from surpassing $ 20 billion in 2020.
More than 1,700 US companies with total assets of $ 31.2 billion operate in Turkey and employ 78,000 people.
Citing Turkey’s commendable economic performance during the global pandemic, the managers noted that they consider Turkey to be one of their most important markets with its sustainable economy and strategic location and that they want to develop their portfolios there. investment as an indicator of confidence.
Turkey’s economy grew 7% year-on-year in the first quarter of 2021, above market expectations, official data showed on Monday. Turkey was one of the few countries where negative growth did not occur during the pandemic, as its economy grew 1.8% in 2020.
Noting that they are optimistic about the performance and future of Turkey’s economy, the leaders said they were happy to be a part of the country’s growth.
They also thanked the Turkish government and ErdoÄan for the measures taken to improve the investment environment and expressed their pride in the partnership they have established with Turkey, which they described as a critical base and an important market. .
âWe want to invest more in your country. Turkey offers important opportunities for all sectors, âthey said.
In his speech during the call last week, ErdoÄan thanked companies that believe in Turkey and called on American business leaders to improve their relations with the country.
âWe value our long-standing, rooted and multidimensional alliance with the United States,â ErdoÄan said.
The president said he believed his first face-to-face meeting with US President Joe Biden in June would mark the start of a new era.
The two leaders are expected to meet on the sidelines of a NATO summit in Brussels on June 14.
ErdoÄan also stressed that Turkey and the United States should put in place economic strategy and partnership mechanisms, stressing the goal of increasing the annual volume of trade between the two countries to $ 100 billion.