2028 Target Set at 50 Billion Dollars for Trade Volume Between Turkey and the US
Minister of Trade Ömer Bolat announced during his contacts in the US that the goal is to increase the trade volume between the two countries to 50 billion dollars by the end of 2028.
Minister of Trade Ömer Bolat, who is in New York on the occasion of the 81st United Nations General Assembly, stated during his contacts in the US that Turkey-US economic relations are developing and announced that the year-end trade volume is expected to reach 42-43 billion dollars.
US Contacts and Meetings
Minister of Trade Ömer Bolat stated that within the scope of his contacts in New York, they met with their counterparts and American business circles on economy, finance, foreign trade, energy, industry, and environment issues.
Acceleration in Bilateral Trade
Expressing that Turkish-American economic relations have gained momentum over the last two years, Minister Bolat emphasized that eight-month data shows total trade will reach 42-43 billion dollars this year with an increase of over 10 percent.
Mutual Investments
It was noted that there are approximately 2,300 American companies in Turkey with a capital stock of 16.5 billion dollars, while Turkish companies evaluating opportunities in the US have approximately 14.5 billion dollars in investments.
Future Period Targets
Stating that they are proceeding in line with the targets set by President Recep Tayyip Erdoğan and US President Donald Trump, Bolat stated that the trade volume will reach 50 billion dollars by the end of 2028.
Customs Tariffs and G20 Summit
Stating that negotiations regarding the US customs tariffs are ongoing, Bolat conveyed that Turkey is a country that runs a deficit in its trade with the US. He also announced that they will attend the G20 Trade Ministers Meeting in Milwaukee next week.