Türkiye invites investors to take advantage of opportunities

By Dilara Zengin Okay and Sevgi Ceren Gokkoyun

NEW YORK (AA) - Recent economic figures are the most visible indicators of the power and resilience of Türkiye’s economy, the Turkish trade minister said Tuesday, inviting businesspeople to take advantage of investment opportunities in his country.

Foreign investors will help boost national efforts for more production, more exports, and more welfare, Omer Bolat added during the 15th Türkiye Investment Conference in New York.

Pointing to the large decline in the country's current account deficit, he said this is a significant achievement, fueled mainly by Türkiye's foreign trade performance in goods and services.

Türkiye's share of global trade is rising in terms of both goods and services, and reached the highest levels in history late last year, he said, adding that the country will continue to move forward.

On investments, Türkiye has even a brighter picture thanks to achievements on the financial side, he explained.

Türkiye is now serving as a regional hub where global companies are directed, and as the supply chains are being redefined, the country will further solidify its position as a production and distribution hub for Europe, he stressed.

- US-Turkish trade ties

Türkiye's trade relations with the US improved over the last decade, and both sides are focused on further accelerating the upward momentum and making every effort to reach their vision of $100 billion in bilateral trade, Bolat said.

Over the last 18 months, Türkiye's dialogue with the US government has grown stronger, and 2024 has been a very productive year for activities and events successfully held with the US, he said.

On President Recep Tayyip Erdogan's meeting with American and Turkish businesspeople on Monday, Bolat stressed that trade and economic relations will continue to be the driving force of the agenda between the two countries.

The US is the second-largest investor country in Türkiye, he said, adding that consumer goods, energy, health, defense, and technology are the flagship industries of the Turkish-American cooperation.

The Turkish industrial powerhouse has been transformed in the last two decades, he stressed, noting that in various industries, from automotive, defense, and textiles to apparel, Türkiye has been named one of the leading manufacturers both in Europe and globally.

*Writing by Gokhan Ergocun from Istanbul