US firms perceive Turkiye as regional hub: US official

11 Apr '22

2 min read

Pic: Shutterstock

US firms perceive Turkiye as a regional hub, according to spokesperson of the US Embassy in Ankara Julie Eadeh, who recently said US foreign direct investment (FDI) stock in the country reached $5.8 billion (TL 85.4 billion) in 2020, while US-owned affiliates employed nearly 60,000 people in 2019. The bilateral merchandise trade neared $28 billion in 2021, a 32 per cent rise from the year before.

"Turkish goods find an increasingly attractive market in the United States. The United States was the number two market for Turkish exports in 2021. In fact, 2021 saw an almost 45 per cent increase in Turkish exports to the US to $16 billion," Eadeh said in a statement.

Her comments came during a two-day visit by the US under-secretary of commerce for international trade Marisa Lago.

She noted that the United States remains Turkey's fourth-largest trading partner. "There is room for further growth on both sides of the trading relationship," she said.

Lago held separate meetings with the Turkish deputy minister of energy and natural resources Alparslan Bayraktar and deputy minister of trade Mustafa Tuzcu to advance commercial ties and promote clean technologies.

She said the United States is committed to partnering with Turkey to advance clean and renewable energy generation sources in the region, and the United States looks forward to more energy security cooperation in the near future.

Fibre2Fashion News Desk (DS)

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