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Trade Minister Omer Bolat said Ankara is working closely with the private sector to reach a $100 billion trade volume target with the United States, citing steady growth in bilateral commerce over the past year.
Bolat made the remarks in a speech at the Global Business Summit, an event organized by the Turkish-American Business Association (TABA-AmCham) in New Jersey. The minister traveled to the United States as part of the 81st session of the United Nations General Assembly.
Bolat said the United States remains an important trade partner for Türkiye, noting that total trade between the two countries surpassed $38 billion last year and is projected to reach $42 billion to $43 billion this year. When services trade is included, he said, bilateral commerce has already reached $47 billion.
Reiterating the two countries' shared goal of $100 billion in trade volume, Bolat said, "We too, of course, are working hard to reach this target with the great support of our private sector." He added that government officials' role is to clear the way for businesses to expand cooperation across trade, investment, services, transportation, technology and energy.
Bolat stressed that the Turkish-American relationship is not limited to trade, pointing to strong mutual investment links between the two countries. Referring to challenges in the global economy and geopolitical tensions, he said, "We must unite our strengths and our alliance more powerfully to withstand these very significant tests."
The minister also noted that next year marks the 100th anniversary of diplomatic relations between Türkiye and the United States, and said the two countries are committed to deepening ties across all areas as that milestone approaches.
Bolat pointed to Türkiye's manufacturing and services sectors as among the largest in the world, and said the country's trade surplus in services has helped offset its trade deficit in manufacturing. "That is why there is enormous potential for American companies to invest in Türkiye's manufacturing, energy, finance, agriculture and especially services sector, as well as the digital sector," he said. He added that the achievements of the past 23 years should serve as a foundation for further progress.
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TABA-AmCham President Suleyman Ecevit Sanli told the summit that shifts in the global economy, including conflicts, tariffs, technology competition, energy security concerns and supply chain disruptions, require a new vision for Turkish-American relations. "Türkiye is not just a market, not just an ally. Türkiye is your strategic partner for investment, technology and energy," he said.
Sanli said the business community is ready to invest, noting that TABA-AmCham's membership includes companies prepared to acquire banks in the United States and invest in ports and schools, along with major investors from the tourism, steel, aluminum, food, textile and finance sectors. "Let's not just trade," he said. "Let's invest together, produce, develop technology and expand into third markets."
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