Watch Now

U.S. trade warms to Turkey

U.S. trade warms to Turkey

   The U.S. government this week entered a new strategic framework to boost bilateral trade with Turkey.

   The so-called 'Framework for Strategic Economic and Commercial Cooperation' was unveiled during a visit by Turkish Prime Minister Recep Tayyip Erdogan to the White House.

   U.S. government agencies currently work with Turkey in the economic arena through the bilateral Trade and Investment Framework Agreement, the Economic Partnership Commission and the Energy Working Group, in addition through numerous contacts between officials at all levels. The new framework ensures regular coordination and review of these activities at a senior political level.

   'U.S. economic ties with Turkey are strong. However, they have room for significant growth, given Turkey's development as a market in its own right, and its emerging role as a regional business hub,' said U.S. Trade Representative Ron Kirk in a statement.


   U.S.-Turkey two-way goods trade totaled $14.6 billion during 2008.

   'The strong involvement of the private sector is critical to our efforts to increase U.S.-Turkish trade and investment,' added Commerce Secretary Gary Locke. 'We hope to obtain private sector input in a formalized way to guide government-to-government discussions.'

   For the new framework, the Commerce Department has proposed the formation of a U.S.-Turkey Business Council, a public-private partnership that will bring together American and Turkish business leaders to identify ways to strengthen economic ties between the two countries. The purpose of the council will be to make joint policy recommendations to the U.S. and Turkish governments on strategies for increasing bilateral commercial links, improving both business climates, and eliminating impediments to trade and investment, the Office of the U.S. Trade Representative said.

Future of Supply Chain


The greatest minds in the transportation, logistics and supply chain industries will share insights, predict future trends and showcase emerging technology the FreightWaves way–with engaging discussions, rapid-fire demos, interactive sponsor kiosks and more.