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Turkey and United States Aim to Strengthen Ties, Expand Trade

The United States and Turkey explored ways to increase bilateral trade and investment and improve economic integration at a recent meeting in Ankara, Turkey.

According to the Office of the U.S. Trade Representative (USTR), senior officials from the United States and Turkey discussed various approaches to expand their trade and investment relationship at the eighth annual meeting of the U.S.-Turkey Trade and Investment Council.

“These annual meetings allow us to work together to overcome obstacles to increased trade and investment and to pursue actions to improve economic integration,” Assistant U.S. Trade Representative for Europe and the Middle East L. Daniel Mullaney said of the June 13 meeting.

Mullaney co-chaired the meeting with Turkish Deputy Under Secretary of the Ministry of Economy Cemalettin Damlaci. The council met under the authority of a 1999 bilateral trade and investment framework agreement (TIFA).

Deputy Assistant Secretary of Commerce for Europe and Eurasia Juan Verde and other officials from the USTR and the departments of Commerce, Agriculture and State also attended the meeting, in which senior officials discussed intellectual property rights, investment, biotechnology, pharmaceuticals and government procurement.

The council explored ways to expand trade, including better support for small and medium-sized exporters. Officials also discussed improving legal protections for intellectual property rights to support emerging industries and encouraging input from the U.S. and Turkish private sectors through the U.S.-Turkey Business Council.

The TIFA Council meeting lays the groundwork for the second formal meeting of the U.S.-Turkey Framework for Strategic Economic and Commercial Cooperation (FSECC), expected to take place later in 2011. U.S. Trade Representative Ron Kirk and Secretary of Commerce Gary Locke worked with their Turkish co-chairs, Deputy Prime Minister Ali Babacan and Minister for Economy Zafer Çağlayan, to create the FSECC in December 2009.

In an FSECC joint statement released in October 2010, officials said, “The United States and Turkey each have a strong incentive to pursue an intensified bilateral economic relationship. Turkey is a fast-rising economic actor in its region and in the world and many of its firms would like to explore new opportunities in the U.S. market. American companies in turn see vast commercial potential in a rapidly developing Turkey of 73 million people, with onward connections to markets in Europe, the Middle East, and Central Asia and beyond.”

Leading U.S. exports to Turkey include aircraft, iron, steel, machinery and fabric, in addition to a wide range of agricultural products. Turkey mainly exports vehicles, machinery, cement and tobacco to the United States.

Two-way trade between the United States and Turkey in 2010 was valued at nearly $14.8 billion.

(This is a product of the Bureau of International Information Programs, U.S. Department of State. Web site: http://iipdigital.usembassy.gov/iipdigital-en/index.html)

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This entry was posted on Հուլիսի 21, 2011 by in in English, Թուրքիա -արտաքին հարաբերություններ and tagged , .

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