Trade Minister Bolat listed investment opportunities for U.S. companies in Türkiye, saying there was major potential in manufacturing, energy, finance, agriculture, services and digital sectors. Bolat made the remarks at the Global Business Summit held in New Jersey by the Turkish-American Business Association.
Bolat, who was in the United States as part of the 81st United Nations General Assembly, said relations between Türkiye and the United States had advanced rapidly in recent years. He said the friendship between President Recep Tayyip Erdoğan and U.S. President Donald Trump had also had a positive impact on the business community.
Bolat said the United States was an important trading partner for Türkiye and that total trade between the two countries had exceeded $38 billion last year. He said bilateral trade was expected to reach $42 billion to $43 billion this year, adding that the total had risen to $47 billion when trade in services was included.
A $100 billion target
Bolat recalled that Türkiye and the United States had set a target of reaching $100 billion in trade. He said they were working toward this goal with support from the private sector and stated that government officials needed to facilitate businesses in trade, investment, services, transportation, technology and energy.
Bolat said ties between Türkiye and the United States were not limited to trade and that the two countries also had strong relations in terms of mutual investment. Pointing to challenges facing the global economy and trade, Bolat said forces and alliances needed to be brought together more strongly in the face of geopolitical tensions.
Bolat said the 100th anniversary of diplomatic relations would be celebrated next year and stated that they were determined to develop relations between Türkiye and the United States in every field as that milestone approached.
Investment opportunities in Türkiye
Bolat said Türkiye’s economy had made significant progress under the leadership of President Erdoğan and that the country was among the world’s largest economies in manufacturing and services. He said the services sector’s trade surplus contributed to closing the manufacturing sector’s trade deficit.
Bolat said further achievements needed to be built on the progress made over the past 23 years. He emphasized that Türkiye offered major investment potential for U.S. companies in manufacturing, energy, finance, agriculture, services and digital sectors.
Sanlı calls for joint investment
Süleymen Ecevit Sanlı, chairman of the Turkish-American Business Association, said changes in the global economy, trade, wars, tariffs, technological competition, energy security and supply chains made it necessary to approach Türkiye-U.S. relations from a new perspective.
Sanlı said Türkiye was not merely a market or an ally, but a strategic partner in investment, technology and energy. He said the association’s members included companies ready to acquire a bank and invest in ports and schools in the United States, adding that investors from the tourism, steel, aluminum, food, textiles and finance sectors were also among the association’s members.
Sanlı said the two countries should do more than trade with each other, calling for joint investment, production, technology development and expansion into third markets. The event was attended by Justice Minister Akın Gürlek, Health Minister Kemal Memişoğlu, representatives of civil society organizations from Türkiye and the United States, and businesspeople.
