Business council steps up efforts to boost trade with US

Business council steps up efforts to boost trade with US

Business council steps up efforts to boost trade with US

As U.S.– China commercial wars have been flared by the coronavirus pandemic, Turkey-U.S. Business Council (TAİK) has stepped up efforts to remind American decision-makers of Turkey’s reliability as a trade partner.

TAİK has designated potential areas that can serve as accelerators to boost bilateral trade. TAİK chairperson Mehmet Ali Yalçındağ has sent letters to the U.S. secretaries of trade, energy and agriculture asking for timely action.

“I recommend an initial focus on LNG and agriculture imports from the U.S. At the same time, Turkey could boost exports of white goods and automotive parts – diversifying America’s supply chain away from China, a stated goal of the Trump Administration,” wrote Yalçındağ on letters dated May 20, a copy of which has been sent to the U.S. president as well.

In the letter addressed to the U.S. Secretary of Trade, Yalçındağ asked to explore options around export financing to support U.S.-Turkey trade.

“We believe this would unlock $18 billion of US exports to Turkey by September 2021. With export financing in place, Turkey would be in a position to increase its role in a diverse and reliable global supply chain,” wrote Yalçındağ.

The TAİK chairperson reacted to articles and messages in social media “which misleadingly presented legitimate efforts by TAİK.”  Underlining the fact that TAİK has always worked in transparency, Yalçındağ in a statement said, “These letters are legitimate outreach efforts informing government officials of the various efforts we are making to create more trade and employment for both our countries.”