ANKARA — Türkiye and the United States are aiming to increase bilateral trade to $100 billion, Treasury and Finance Minister Mehmet Şimşek said during a reception held at the U.S. Embassy in Ankara.
Speaking at the event marking the 250th anniversary of U.S. independence, Şimşek highlighted growing geopolitical uncertainty and fragmentation in the global economy, saying Türkiye and the United States need each other more than ever.
Şimşek pointed to the $100 billion bilateral trade target set by the leaders of the two countries. He said bilateral trade has currently surpassed $34 billion, reaching roughly one-third of the target, and noted that trade between the two countries remains largely balanced.
The minister said the target was achievable given the size of the U.S. economy. He also highlighted significant opportunities for cooperation in energy, technology, defense and strengthening supply chains.
More than 2,400 U.S. companies operate in Türkiye
Şimşek noted that more than 2,400 U.S. companies are currently operating in Türkiye.
He said Türkiye’s economic program is focused on strengthening macroeconomic and financial stability, reinforcing a rules-based framework and improving the investment environment in order to increase predictability and investor confidence.
Şimşek also compared Türkiye’s trade with the European Union, which currently stands at around $232 billion, arguing that the scale of Türkiye’s economic relationship with the U.S. still has substantial room for growth.
The minister emphasized that closer economic ties and increased cooperation across key sectors could help both countries make significant progress toward the $100 billion trade target.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök