Türkiye 'committed' to realizing $100 billion trade volume with U.S.: Minister

Ankara is "committed" to realizing a $100 billion trade volume with the U.S., Turkish Trade Minister Ömer Bolat said Thursday.

"Even though we have observed a considerable volume of trade and investment in the last couple of years, we still have a long path to reach our target of a $100 billion trade volume.

"Türkiye is fully committed to realize this target, and we are ready to engage in joint works to further our trade relations," Bolat said at the 39th American-Turkish Conference in Washington.

The two-day conference is the premier venue for U.S. and Turkish business leaders to engage in commercial diplomacy, and it showcases U.S.-Turkish ties and collaboration across third-country markets in strategic sectors.

Bolat said to reach the "ambitious" target, Türkiye and the U.S. need to further the dialogue between the countries and business communities at all levels, "especially in a world where we face uncertainties more than ever."

"We need to make best use of all communication channels, and work more closely through available platforms," he said.

Bolat noted to the participants that the Trade and Investment Council was held in Ankara last month after taking a seven-year hiatus.

"Türkiye and the U.S. have been allies for over 70 years, and we value our partnership with the United States. We strongly believe that we have a common interest in advancing our bilateral relations in every possible area," the minister stressed.

Turning to the onslaught in the Gaza Strip, Bolat said the world is witnessing a "destructive and humanitarian tragedy" that has "catastrophic" effects on the lives of hundreds of thousands of people and the region.

"As Türkiye, the largest contributor to the people in Gaza, we're trying to find a way for a lasting cease-fire and leading diplomatic initiatives to restore the peace in the region which we all need at this uncertainty," he added.

'NEW CHAPTER' IN TÜRKİYE-U.S. BUSINESS PARTNERSHIP

The President of Foreign Economic Relations of Türkiye (DEIK) Nail Olpak said the 39th edition of the conference is a testament to the enduring partnership between Türkiye and U.S. in fostering economic cooperation.

"As we convene for two days of panel sessions, covering topics, ranging from policy, defense, energy, digital, tourism and third-country partnership, it is evident that the bond between Türkiye and the U.S. extends more than trade and investment. Our collaboration runs deep, encompassing financial cooperation and strategic alliances," Olpak added.

Khush Choksy, senior vice president for Middle East, Central Asia and Türkiye at the U.S. Chamber of Commerce, said the conference will start a new chapter in trade and commerce relations between Türkiye and the U.S.

Murat Özyeğin, chairman of Türkiye-U.S. Business Council (TAIK), for his part, said one of the "most definitive aspects" of the nearly 200-year friendship between Türkiye and the U.S. has been the ability to compartmentalize political and economic relations.

"I believe the 39th American-Turkish Conference will mark a promising new chapter in our strategic business partnership," he said.