New York:Bilateral trade volume between Turkey and the United States has reached $38 billion as economic relations continue to strengthen, according to Turkish Trade Minister Omer Bolat.
According to Anadolu Agency, Bolat announced this development during the 4th Turkish-American Business Gathering in New York, organized by the Anatolian Lions Businessmen Association (ASKON). He emphasized the importance of economic development, exports, and balance of payments in fortifying the Turkish economy.
Bolat, accompanying Turkish President Recep Tayyip Erdogan to the UN General Assembly, highlighted that the US is Turkey's second-largest export destination and fourth-largest import partner. The US also ranks as the second-largest foreign direct investor in Turkey, with about 1 million American tourists visiting annually.
ASKON President Orhan Aydin set a strategic goal to increase bilateral trade to $100 billion, which he believes will lead to more Turkish companies in the US market, American investments in Turkey, joint production, technology transfer, employment, and a stronger economic partnership.
In a separate event in New York, Bolat participated in the 19th Turkey Investment Conference organized by the Foreign Economic Relations Board and its Turkey-US Business Council, along with Citi. He discussed the robust structure of the Turkish economy, investment opportunities, and Turkey's strategic advantages for global investors.
Bolat mentioned that bilateral goods trade reached $38.6 billion in 2025, with plans to expand through mutual investments and innovation. He pointed out potential cooperation in sectors like renewable energy, digital economy, artificial intelligence, defense, aerospace, automotive, chemicals, pharmaceuticals, biotechnology, and medical devices.
Additionally, Bolat attended the Global Turks New York Forum by the Global Turks Foundation, praising the Turkish diaspora's role in expanding Turkey's commercial ties globally. He noted their progress in organizing diaspora initiatives and their influence in promoting Turkey internationally, serving as a cultural and commercial bridge.