A meeting of the Turkey-US Trade Cooperation Working Group was held. This working group will establish strategies to enhance the trade relations between the two countries. Under the joint trade action plan between Turkey and the US, a working group was convened at the Ministry of Trade in order to coordinate the commercial relations in the new period. According to a written statement from the Ministry, the meeting chaired by Deputy Minister Mustafa Tuzcu discussed the actions to be taken following the announcement of the new trade policy by the US, in collaboration with relevant institutions. The working group will set policies and strategies to counter the potential impacts of protectionist trends that are expected to increase in global trade in light of the new conditions of US-Turkey trade relations in the new era. During this process, the focus will be on thoroughly examining the efforts to strengthen US-Turkey commercial relations in line with the new conditions.

UPDATING THE ACTION PLAN

During the meeting, a decision was made to update the action plan aiming to raise the trade volume to the defined goal of $100 billion with the US. Accelerated data analysis and market research studies on sectors with potential in the US market, as well as the initiation of intense trade delegations in priority sectors, and the organization of programs with essential supply chains in Turkey were emphasized within the action plan. With the new action plan, priority will be given to programs such as International Competitiveness Development (ICD), Turquality, and HİSER (Enhancement of Service Sector Competitiveness Project Support) which bring companies and cooperation institutions together considering the scale of the US market, aiming at promotional activities, delegations, and state-based support for fairs. While all activities in the action plan will be prepared state by state, support will also be provided to enhance overseas logistics networks and increase alternatives. The action plan aims to elevate fairs held in the US to prestigious status.

MINISTER BOLAT TO VISIT THE US

Meanwhile, Trade Minister Ömer Bolat will travel to Washington, the capital of the US, in May to attend the 12th term meeting of the Turkey-US Trade and Investment Council (TIFA). During the visit, in addition to negotiations with US Trade Secretary Howard Lutnick and US Trade Representative Jamieson Greer, Minister Bolat is also scheduled to participate in the Turkish-American Conference. Matters concerning the enhancement, diversification, and development of new areas of cooperation between Turkey and the US for the benefit of both sides will be addressed in detail. Minister Bolat had also sent a letter to Greer with suggestions for the reciprocal consideration of perspectives from both countries within the framework of the US-Turkey joint trade action plan.