Turkey eyes over $1 bln investment promise from US companies

Turkey eyes over $1 bln investment promise from US companies

ANKARA - Anadolu Agency
Turkey eyes over $1 bln investment promise from US companies

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Turkey will seek an investment of over $1 billion from U.S. companies during President Recep Tayyip Erdoğan’s official trip next week, the head of Turkey’s Foreign Economic Relations Board (DEİK) said on March 26.      

Erdoğan will arrive in the U.S. on March 29 for a four-day visit to attend a nuclear security summit and the opening ceremony of an Islamic-Ottoman complex in Maryland.      

He is also expected to meet with CEOs from the U.S.’s 25 biggest companies at a gathering organized by the DEIK, the Turkish Prime Ministry’s Investment Support and Promotion Agency (ISPAT) and the U.S.-Turkey Business Council.      

“We expect an investment promise of over $1 billion from that roundtable meeting,” DEİK Chairman Ömer Cihad Vardan told Anadolu Agency.      

The president of ISPAT, Arda Ermut, said potential U.S. investors would meet Erdoğan.

“We will tell them to come and be a part of our success,” he said. 

“The energy, informatics, food, finance and health sectors will be on the agenda,” he added. 

According to Ermut, Turkey attracted around $1.5 billion in direct investment from the U.S. last year. In total, foreign investors provided $16.5 billion last year.      

The U.S. is Turkey’s fifth largest export market, the Economy Ministry said, exporting goods and services worth $6.4 billion in 2015, making it the 33rd biggest supplier to the U.S. market.      

Turkey’s imports from the U.S. were valued at $11.1 billion.      

The U.S. has been listed as a target country for 2016 by the Economy Ministry.