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USA and Türkiye aim for $100 billion in trade volume together. 🇺🇲🇹🇷🤑
As longstanding NATO allies, Turkey and the US have played pivotal roles in upholding peace and stability in the Euro-Atlantic region. Recent years have witnessed a notable surge in commercial ties, with American companies recognizing Turkey's potential as a regional economic hub.
Priority Areas for Trade Enhancement:
🔹Economy, Trade, and Energy:
Discussions between the two nations have centered on cultivating a positive agenda that aligns with mutual objectives. Notably, energy, trade, and climate have emerged as focal points for collaboration.
🔹Renewable Energy:
Turkey's strides in renewable energy have garnered attention from American counterparts, sparking conversations about deepening cooperation. Initiatives include reducing methane emissions and bolstering wind, solar, and energy efficiency projects.
🔹Equipment Manufacturing:
Leveraging its strategic location, Turkey has become a key player in equipment manufacturing, attracting interest from US firms seeking new markets. For instance, an American wind turbine manufacturer based in Izmir exports globally, bolstering local employment and economic growth.
🔹Common Ground in Energy and Climate:
Both nations are aligned in their goals to diversify energy sources and combat climate change. Detailed plans encompass reducing methane emissions and fostering collaboration in green technology.
🔹Trade Volume and Investments:
Current trade volume exceeds $40 billion, aiming to surpass $100 billion. American investments in Turkey reached $50 billion, employing over 100,000. Turkish investments in the US are $2.7 billion, highlighting mutually beneficial trade.
The $100 billion trade target between Turkey and the US seems attainable with focused efforts and strategic talks. Planned meetings to enhance trade, address energy and climate issues, show both nations' commitment to collaboration and diplomatic ties.
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