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Istanbul Fashion Week >>
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Bozcaada >>
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1st Istanbul International Opera Festival >>
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Open Air Museums in Turkey >>
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Current News
Trade can increase threefold, says US envoy
January 28, 2010
Hürriyet Daily News
After taking time to understand the problems and develop a plan for trade relations, Turkey and the United Sates have come up with a framework proposal that includes the signing of several agreements, a US envoy said on Wednesday.
Trade and investment agreements, as well as economic partnership agreements are in the pipeline, according to U.S. Ambassador to Ankara James Jeffrey. Speaking at a lunch hosted by the Turkish–American business council, Jeffrey said economic relations between Turkey and the U.S. are relatively low, especially when compared to Turkey’s trade with Europe, the Middle East, Russia and even Africa, adding that the Turkish government is right to be concerned by the imbalanced trade ties.
Jeffrey said trade between the two countries could reach three times the current level through concentrating on the military, aviation and automotive sectors.
“U.S. economic relations with Turkey are not simple statistics. They involve geo-strategic cooperation,” he said, adding that Turkey and the U.S. are cooperating on the Nabucco project, the pipeline for bringing Caspian Sea gas to Europe, as well as on investment opportunities in Afghanistan and Pakistan.
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