Türkiye holds significant opportunities as a stable “safe haven” in the face of ongoing global uncertainty, said Vice President Cevdet Yılmaz, adding that the government plans to take investor-friendly steps.
Speaking at the Union of Chambers and Commodity Exchanges of Türkiye (TOBB)-U.S. Chamber of Commerce Roundtable Discussion in Ankara, Yılmaz said the Turkish economy continues to demonstrate strong performance despite global uncertainties.
“We have our Medium-Term Program in place. With the strong political will of our President [Recep Tayyip Erdoğan] and effective coordination, we are continuing to implement it decisively,” Yılmaz said.
He noted that the war in Iran has had considerable implications for both the regional and global economy, particularly in the fields of energy, logistics, and critical raw materials such as fertilizers.
“As Türkiye, we are not experiencing any supply shortages in these areas. As a country with diversified supply systems, we have no supply problems in any sector. However, as in the rest of the world, Türkiye is affected by price increases. We are making efforts to limit these price impacts,” he said.
Yılmaz pointed out the post-war period is expected to bring a new regional environment and conditions in which new economic dynamics will come into play.
“In this environment, as a country that maintains its stability and safe haven status and possesses significant strengths, we believe we have very important opportunities. Although recent developments may have short-term negative effects, they will bring considerable prospects and opportunities for Türkiye in the medium term,” he said.
He added that the government is preparing to make use of emerging opportunities, particularly through the Istanbul Financial Center.
“As the government, we are preparing to take advantage of these new opportunities, especially through the Istanbul Financial Center. In the coming days, we may introduce some new initiatives that could surprise you,” Yılmaz said.
He also stated that the government is planning to take additional investor-friendly steps aimed at enabling Türkiye to benefit from the evolving global environment.
Türkiye-US economic ties
Highlighting the long-standing strategic partnership and alliance between Türkiye and the United States, Yılmaz said that the relationship provides a strong foundation for economic cooperation and helps facilitate deeper mutual investment and trade ties in a sustainable manner.
He recalled that the trade volume between the two countries approached $39 billion last year, with a target of reaching $100 billion.
Emphasizing the importance of reciprocal investments, Yılmaz said that direct investments from the U.S. into Türkiye totaled approximately $16 billion between 2003 and 2025.
During the same period, Turkish firms made around $14 billion in direct investments in the U.S., reflecting what he described as a balanced investment relationship between the two countries.
Yılmaz also noted that while the U.S. has made approximately $8 trillion in direct investments globally, the amount of capital directed toward Türkiye remains relatively limited.
“The advanced investment environment Türkiye offers, its ease of doing business, and its strategic location present strong opportunities for American investors,” he said.
He added that Türkiye and the U.S. have significant potential for cooperation in a wide range of sectors, including energy, defense, artificial intelligence, satellite technologies, communications, financial technologies, the digital economy, and cybersecurity.
Following the opening remarks at the meeting, a memorandum of understanding aimed at strengthening trade and investment relations between the two countries was signed.
TOBB President Rifat Hisarcıklıoğlu; U.S. Chamber of Commerce Vice President Khush Choksy; and Hamdi Ulukaya, Chair of the Türkiye-U.S. Business Council, also attended the meeting.
