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Istanbul shines as gateway for US-Türkiye business ties

Istanbul shines as gateway for US-Türkiye business ties The iconic Bosporus strait of Istanbul, Türkiye, Aug. 31, 2023. (AA Photo)
By Anadolu Agency
Jun 27, 2024 12:24 PM

Julie Eadeh, the U.S. Consul General in Istanbul, highlighted the substantial presence of Turkish delegates at this year’s SelectUSA Investment Summit in the United States, aimed at promoting investment opportunities.

Eadeh highlighted Istanbul’s pivotal role as a global gateway and Europe’s largest city, underscoring its potential for American investments.

Türkiye leads at SelectUSA Summit

Speaking to reporters in Washington, where she attended the 10th edition of the SelectUSA Investment Summit, Eadeh noted that Türkiye sent one of the largest delegations, comprising 65 individuals from 30 firms.

Eadeh pointed out the participation of Turkish business leaders from crucial sectors such as construction, technology, infrastructure, and manufacturing, underscoring the summit’s role in facilitating excellent discussions on various investment prospects in the U.S.

Building momentum in trade

Highlighting the vibrant commercial diplomacy between Türkiye and the U.S., Eadeh described the momentum in bilateral trade relations as “remarkable” and expressed enthusiasm about prospects.

Istanbul shines as gateway for US-Türkiye business ties
U.S. Istanbul Consul General Julie Eadeh delivers a speech at the “Trade Winds” forum, Istanbul, Türkiye, May 14, 2024. (AA Photo)

She recalled hosting the “Digital Dialogue” between American and Turkish companies in Istanbul in March and the “Trade Winds” forum organized by the U.S. Department of Commerce in May, marking its return to Istanbul after 16 years as the largest trade mission worldwide.

Eadeh emphasized Istanbul’s significance as a global gateway and Europe’s largest city, reflecting its potential for American investments. She noted that 120 U.S. companies participated in “Trade Winds” to explore partnership opportunities with Turkish counterparts while emphasizing Türkiye’s significant presence at the SelectUSA Investment Summit.

Commenting on the bilateral trade volume nearing $40 billion, Eadeh remarked on its progress toward the $100 billion target set by Presidents Biden and Erdogan, calling the current momentum exceptional.

Sector focus: Aviation, manufacturing

Aviation and manufacturing were highlighted as key sectors with substantial potential in commercial relations between the two nations. Eadeh expressed confidence in the promising trajectory of these relations, citing successful engagements and opportunities presented at the SelectUSA Investment Summit.

She also discussed the vast potential in sectors such as infrastructure, medical technology, healthcare, smart cities, and clean technology, emphasizing the contributions Turkish companies can make in these areas.

Optimism in defense collaboration

Asked about potential future collaborations in defense industries, particularly regarding a Turkish defense company partnering with the U.S. Department of Defense in establishing an ammunition facility in Texas, Eadeh expressed optimism, stating: “I certainly hope so.”

She highlighted the facility’s role in significantly boosting U.S. ammunition production upon full operation and underscored the ongoing growth potential in the defense sector.

Last Updated:  Jun 27, 2024 12:24 PM