Erdoğan to the US investors: Trust Turkey

* Photo: Anadolu Agency (AA)

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Speaking in New York City at an event organized by the Turkey-US Business Council, President and ruling Justice and Development Party (AKP) Chair Recep Tayyip Erdoğan has called on the businesspeople and investors in the US to "continue trusting" Turkey.

In the US for the 76th session of the United Nations (UN) General Assembly, he has addressed the businesspeople and said: "I expect you to keep your faith in the bright future and potential of Turkey."

As reported by the state-run Anadolu Agency (AA), President Erdoğan has stated that "he expects the economic relations between his country and the US to grow to reach their real full potential."

Referring to "the 70-year alliance" between Turkey and the US, he has said that "this very special and steadfast cooperation contributed to peace, stability and security in a great many parts of the world for years."

"The critical developments that have taken place recently have once again shown the significance and value of the strategic partnership between our countries," Erdoğan has indicated further.

He has pointed out "cooperation opportunities" between Turkey and the US, including security, defense and investments, expressing his belief that "differences in opinions which occur between countries at times can be overcome through dialogue, solidarity and mutual respect."

'We are determined to expand bilateral trade'

Noting that US President Joe Biden "fully shares the understanding that developing economic relations between the two countries is both possible and necessary," Erdoğan has reiterated both leaders' determination to expand the bilateral trade volume to 100 billion dollars, which is "a realistic target and is easily achievable as long as the right steps are taken."

Erdoğan has noted that the bilateral trade volume between the US and Turkey increased to 21 billion dollars over the last year despite the COVID-19 pandemic conditions and recalled that Turkey ranks third among the countries which the US exports to the most.

Expressing his hope for the trade volume to reach 25 billion dollars by the end of 2021, he has said that mutual investments play a significant role in the development of economic and trade relations.

The number of US-based companies conducting business in Turkey reached 1,971 by June 2021 and the US's direct investments in Turkey reached 13 billion dollars, Erdoğan has indicated.

He has added that Turkey's investors, on the other hand, made direct investments worth 7.2 billion dollars in the US.

One of the means to strengthen economic and trade cooperation is through diversification of the fields of cooperation, he has said, adding, "The field of energy holds serious opportunities for both countries... I believe our cooperation in this field will advance more in the coming period."

Indicating that businesspeople are the envoys of friendship and partnership between two counties, President and AKP Chair Erdoğan has said that Turkey and the US "should boost dialogue and cooperation to reach the real full potential of the economic and trade partnership." (TP/SD)