Union of Chambers and Commodity Exchanges of Turkey

The meeting at TOBB Twin Towers was attended by representatives of about 30 US companies, including companies like Apple, Boeing, IBM, Microsoft.

Speaking at the meeting which took place closed to the press, TOBB Chairman Rifat Hisarcıklıoğlu said, “Turkey-US relations are based on a foundation of strong traditions, friendship, alliance, strategic partnership and mutual benefit with a successful history.”

Stating that Turkey-US Relations have overcome many ordeals in the past, Hisarcıklıoğlu said, “The robust foundation of relations on the bilateral level has enabled us to take a common stance on many international issues, particularly in our region, and helped us to act together. In addition to the political and military basis of our relations, the economic basis is also undergoing an important development process in recent years. Turkey-US bilateral trade reached nearly 20bn$ annually. In bilateral trade, the United States is making a significant profit by consistently via trade surplus. Between 2010 and 2017, the trade surplus of the US with our country is about 55bn$.”

“The investments made by US companies into the economy and the future of our country have further strengthened the economic dimension of our relations,” said the TOBB President and stated that there are significant partnerships in terms of investments as well as trade. “As business people, we attach great importance to the commercial and economic relations between us. Together with you, we work together and cooperate in many difficult and distressed geographies. Despite all this, especially in recent years, Turkey and the US are faced with a series of developments which harm our relationship. I have also emphasized this in many of our contacts with the United States. I continue to do so.”

Hisarcıklıoğlu stated that view the rhetoric and steps taken the US administration and Congress in recent years targeting economic relations between Turkey and the USA with grave concern and they find talk of embargoes and sanctions between the two allied countries extremely dangerous.

Stating that President Trump's executive order announced a few days ago has exacerbated the situation a step further, Hisarcıklıoğlu said, “The decision of the US government to impose sanctions is contrary to the nature of our strategic alliance. This has brought about the risk of irreparably damaging relations between our countries. This development should concern all of us as it is indicative of how poisoned our relations are becoming. This sanction decision is unacceptable. We're all on the same ship. We are trading. We are investing. We produce prosperity for our people. We contribute to region peace and world peace. We must not be a spectator to the damage done with political and populist calculations to our economic relations which we brought to this point with great effort. We should not be silent to lose all that we’ve gained. As TOBB president, as a business person who has endeavored for many years for the development of Turkey-US economic relations, on behalf of the business community, we want the US business community to be involved in this issue.”

Trade Minister Pekcan emphasized that Turkey would maintain its momentum in developing its tradition of rule of law, its strong culture of democracy and its rapid economic growth and development.

Drawing attention to the major contribution to the global economy with its Turkey's young population and dynamic economy provides, Pekcan provide a, Turkey's business, was underlined that Turkey continues to be an attractive country in terms of trade and investments.

Pekcan, pointing out that Turkey has always been in favor of cooperation and stability, said, “Non-economic based, non-cyclical crises with Turkey must not be allowed to supersede economic cooperation between the US. Pretending there is an economic problem between the United States and Turkey would harm both countries’ manufacturers, consumers and the economies.”

- “US should take joint action with Turkey regarding iron and steel”

Stating that the Turkish iron and steel industry is not a threat to the US, Pekcan said that there is a balanced trade between the two countries in this sector.

Pekcan, noting that there is no possibility for third countries to export product via Turkey to the US, said, “In this context, US should take joint action regarding Turkey iron and steel. Turkey, as long as it is met with unfair measures, will practice reciprocity as per rights accorded it by international trade law unless to preserve its economic interests. The economic relations of the two countries will continue on their solid footing. Presently, there is a significant trade and investment relationship between the two countries, and we hope that this partnership will continue to grow.”

Pekcan pointed out that the country will undergo a transformation with focus on added value, technology, R&D and innovation. She pointed out that in the process of transformation, US companies and capital can play an important role.

Pekcan, referring to unfair criticism and disinformation about Turkey abroad, especially asked for support in this regard from American companies doing business with Turkey.