President Erdoğan: We have built our economic programme on our country’s growth through investment, employment, production, exports and current account surplus
President Recep Tayyip Erdoğan, who is in New York for the 77th Session of the United Nations General Assembly, addressed prominent U.S. business people at a dinner held by the Foreign Economic Relations Board of Türkiye (DEİK) Türkiye-USA Business Council (TAİK). “WE HAVE MANAGED TO SUSTAIN OUR ECONOMY’S ENDURANCE AND ATTRACTION”
Drawing attention to the serious challenges faced by the world economy since 2020, President Erdoğan said: “First the pandemic, and then the Russia-Ukraine war has caused major setbacks in supply chains in every area, first and foremost energy and food. A great number of countries are working to deal with the highest inflation rates of the last 40-50 years. Thanks to the strong performance it has shown in growth, exports and employment, the Turkish economy has displayed a successful outlook in overcoming all these challenges. As a result of the supportive steps we have provided during a period, in which the global economy has been restructured and the predictability has declined, and through the dynamism of the private sector, we have managed to sustain our economy’s endurance and attraction.”
“We have made a deliberate choice by building our economic programme on our country’s growth through investment, employment, production, exports and current account surplus. We have not compromised our priorities for the past two years, including the period of pandemic. We continue to determinedly implement our economic programme,” President Erdoğan noted.
“TÜRKİYE OFFERS NEW INVESTMENT OPPORTUNITIES IN THE AREA OF RENEWABLE ENERGY”
Underscoring that the bilateral trade volume between Türkiye and the U.S. had reached some 28 billion dollars, which he noted was a record, President Erdoğan stated that the close interest U.S.-based firms had shown in the business opportunities in Türkiye and the increase in their investments were a manifestation of the confidence in the Turkish economy, and added: “The direct investments from the U.S. to Türkiye have reached 14.1 billion dollars, whereas Turkish companies’ investments in the U.S. have increased to some 8.6 billion dollars. There are mutual trade and investment opportunities in almost every sector between Türkiye and the U.S. Türkiye has a key role in the diversification of route and source for energy security as well. Given the current international conjuncture, our potential for cooperation in the area of energy offers us golden opportunities.”
“By differentiating itself positively from Europe as a result of the great leap forward it has made in the recent period, Türkiye offers new investment opportunities in the area of renewable energy as well,” the President said.
“TÜRKİYE WILL CONTINUE TO ENDEAVOR TO ENHANCE ITS ECONOMIC AND TRADE RELATIONS WITH THE U.S.”
“Such protective practices as the additional tariffs the U.S. had been unilaterally imposing in the steel and aluminum sectors since 2018 continue to adversely affect our trade relations,” President Erdoğan further stressed, and continued as follows: “Lifting additional tariffs in these sectors or allocating the quota, granted to some other countries, to Türkiye as well will significantly contribute to our joint efforts. Contrary to our alliance relations, artificial obstacles are raised before our cooperation in the area of defense industry. It adversely affects the security of the entire NATO zone as well as our trade relations. In fact, this wrong and unjust attitude, which lacks strategic view and which has been developed due to the pressure some lobbies have put on U.S. decision-makers, harms U.S. interests as well. Therefore, the immediate lifting of these unilateral and unjust obstacles is not just our cause but also yours. Türkiye will continue to endeavor to enhance its economic and trade relations with the U.S. from now on as well, as has been the case so far.”
