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The head of Denver's chamber of commerce called for minimizing trade barriers between the United States and Türkiye during a business council meeting in Istanbul on Wednesday, emphasizing vast untapped potential between the two nations as they work toward an ambitious $100 billion trade target.
"We need to make sure that those barriers are minimal, so that free trade and free investment are flowing between both of our communities," said J.J. Ament, president and CEO of the Denver Metro Chamber of Commerce, in remarks to Anadolu news agency during his visit to Istanbul for a trade event.
Ament, who leads Colorado's largest business organization, highlighted Denver's geographic advantages for Turkish investors seeking opportunities in the United States, promising assistance to Turkish companies interested in the region.
"There are many opportunities for our private sector and our public sector to work together to make sure that every Turkish investment is successful," Ament said, noting that his organization would help Turkish businesses navigate tax and regulatory policies critical for success in the American market.
The Denver chamber executive's visit coincided with a meeting of the Foreign Economic Relations Board's (DEIK) Türkiye-US Business Council (TAIK) in Istanbul on Thursday, where business leaders from both countries discussed expanding commercial ties.
Murat Ozyegin, head of TAIK, said the council is working closely with Colorado, Denver, and other U.S. cities to deepen investment and trade relationships.
"The aim here is for the companies from Denver to evaluate their potential to make trade partners or different investments in Türkiye," Ozyegin explained, adding that Turkish companies should likewise consider investment opportunities in Denver.
The U.S.-Türkiye trade relationship has been strengthened by Turkish Airlines' recent launch of direct flights connecting Istanbul and Denver, making business travel "much faster and more practical," according to Ozyegin.
Currently, bilateral trade stands at $32.5 billion in goods, reaching $45-46 billion when services are included.
This represents significant progress toward the $100 billion target established in 2019 by Turkish President Recep Tayyip Erdogan and then-U.S. President Donald Trump during his first term.
"TAIK also has a working group focused solely on bilateral trade to reach $100 billion," Ozyegin said, referencing comprehensive reports published with an international consulting firm in 2013 and 2019 that identified growth opportunities to achieve this goal.
The current trade deficit between the two countries is approximately $500 million, which Ozyegin described as minimal.
"When we look at the foreign trade partners of Türkiye and the US, Türkiye is a country that can establish much closer cooperation in this sense and does not need to put larger tariff barriers between them," he said.
Ozyegin also noted that the U.S. has suspended additional tariffs for all trade partners except China for 90 days, creating a window of opportunity for further negotiations.
"After the bilateral negotiations between the countries and the US are finalized, we will again intensify our efforts to revive this report, as 60 days are left of these 90 days, and we will again intensify our efforts to take even more confident steps towards our target of $100 billion," he added.
"We hope that with the mutual increase in long-term investments, Türkiye and the US will reach the $100 billion trade volume."
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