ATO PRESIDENT BARAN: "WHEN THE TENSIONS END, THE TRADE VOLUME WITH THE US WILL RISE EVEN MORE"

February 6 th 2020- Ankara Chamber of Commerce (ATO) President Mr. Gürsel Baran stated that trade volume target between the United States of America and Turkey is set to reach to 100 Billion USD in line with President Recep Tayyip Erdogan's vision. Mr Baran also said that "when the tensions end, the trade volume with the us will rise even more between our two countries We believe that it will rise in a short time."

ATO President Baran gave a speech at the opening of the meeting titled "Turkish American Business World Meets: Investment and Business Opportunities in the United States" organized by the Turkish-American Businessmen Association (TABA-AmCham) at the Ankara Chamber of Industry (ASO). Mr. Baran stated during his speech that "for many years the United States and Turkey have been involved in bilateral, regional and global scale relations at all levels. Despite the tensions in international relations and defense trade issues, our trade continues without interruption. There is a consistent rise in economic relations between USA and Turkey which also a NATO ally as well as a strategic partner."

Baran stated that while the trade volume between the two countries was $ 10.3 billion in 2005, by the end of 2019, it reached to 19.2 billion dollars. In 2002 USA's investments were amounting to $ 2 million, whereas this investment increased to $ 320 million in Turkey.  Baran, also stated that since 2002 investment stock of American capital in our country reached $ 12 billion. "The number of American-owned companies operating in our country was 1,923 in total at the end of 2019. These figures are very important. Because the United States, ranks 2nd after the Netherlands in terms of FDI in Turkey," Baran added.

US COMPANIES ARE AMONG THE MOST PREFERRED

"Turkey's economic development in the last 18 years strengthen the Turkish capital and that the Turkish investment abroad in years demonstrated a significant growth with $ 6 billion abroad investments." Baran continued.

Mr Baran stated that foreign investments on a global scale and playmaker companies of great importance for Turkey. Mr. Baran continued his words by saying "Know-how transfer and supply will contribute to the security of overseas investments, in line with long-term goals of Turkey. Besides, the United States has always been one of the most preferred countries for both new investments and mergers and acquisitions for Turkey. The total investment of our Turkish investors in the US has approached $ 1.8 billion"

Mr. Baran emphasized that ATO is in a great commitment to enhance economic relations and to support everyone who develop Turkey's foreign trade.