06.02.2019 Ankara
Speaking at the business dinner held with the participation of Trade Minister Pekcan and US business representatives, TOBB President Hisarcıklıoğlu emphasized that the duties imposed on imports of steel from Turkey by the US administration does not conform to the spirit of alliance between the two countries and affects the iron and steel exports negatively.
Trade
Minister Ruhsar Pekcan, the US Chamber of Commerce Middle East and Turkey Department
Senior Vice President Khush Choksy and Turkish and American business
representatives convened at the business dinner hosted by the Union of Chambers
and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu.
TOBB
President Hisarcıklıoğlu said in his speech that Turkey and the US are mutually
important for each other and that for nearly 70 years, under the umbrella of
NATO, they have jointly taken responsibilities and have fought together against
international security issues.
TOBB
President Hisarcıklıoğlu stated that the reemergence of trade wars as a concept
is troubling for the business world and touched on the structure of trade
between Turkey and the United States. Reporting that between 2010-2017, an
imbalance of 55 billion USD has been observed in bilateral trade between the US
and Turkey, Hisarcıklıoğlu said, “Despite this, the US government has imposed a
25% duty tax on imports of steel from Turkey, followed by another 25%. We find
this to be unjust and it does not conform to the spirit of alliance between the
two countries. This decision has had an extremely negative impact on Turkey's exports
of iron and steel products to the US in 2018. Turkey's exemption from this
policy will contribute to both bilateral trade and relations.”
Hisarcıklıoğlu,
emphasizing the importance of the GSP in Turkey’s exports to the United States,
with 20% exports taking place under it, expressed his hopes that the review
process of the GSP would result without damage to relations.
Also
touching on the matter of a free trade agreement between Turkey and the US,
Hisarcıklıoğlu urged support from the US business community on these matters, “Let’s
stand up for our bilateral trade and investment relations. Let’s maintain our
position as a bridge between our countries.”
- Trade Minister Ruhsar Pekcan
In
her speech, Trade Minister Ruhsar Pekcan emphasized that political relations
between the two countries experience certain fluctuations at times, but the
goal is still the shared vision and joint business potential of the Turkish and
American business worlds.
Emphasizing
that they are excited and optimistic about the development of the current
economic relations with the United States, Minister Pekcan said, “In talks,
President Trump and President Erdoğan have come to an agreement in regards to
increasing our trade volume to 75 billion USD. Today, our trade volume stands
at 20 billion USD. We have a long way ahead of us which must be covered
quickly. We're going to move forward together. Looking at trade and investment
relations between the United States and Turkey, we see that there is a long
road ahead. We are pleased that over 1800 American companies doing business in
Turkey with a combined investment volume of 11.7 billion USD have put their
trust in and are supporting Turkey.”
- US-Turkey Business Council
President MacLennan
The
US-Turkey Business Council Chairman David MacLennan emphasized that Turkey and
the United States have a long history of trade, “This is a tradition founded on
prosperity for its citizens and companies, and dependent on increasing investment
and job opportunities.”
MacLennan
stated that the business world plays a catalysing role in development and
economic growth, “For example, companies working in the agricultural sector are
investing in rural areas. Agriculture is an important way to get rid of poverty
in many developing countries. We can also reverse the tendency of urbanization
to increase agricultural production. Therefore, it is really necessary to
support deep and strong economic relations between the two countries and to
always remind each other and our stakeholders of the importance of this
relationship.”
- Khush Choksy of the US Chamber of
Commerce
US
Chamber of Commerce Middle East and Turkey Department Senior Vice President
Khush Choksy also stated that they iterate the views of Turkish companies in
Washington D.C. in periods of tense Turkey-US relations as the US Chamber (regarding
the tax issues for iron and steel).” Stating that TOBB President Rifat
Hisarcıklıoğlu demonstrates Turkey's point of view and that American companies
also show attention to issues in Turkey, Choksy, stressed the contributions of Hisarcıklıoğlu
to trade relations.
- Memorandum of Understanding
renewed
After
the speeches, the 2019 Action Plan Memorandum of Understanding was signed in by
TOBB President Hisarcıklıoğlu and US Chamber of Commerce Middle East and Turkey
Department Senior Vice President Choksy with the Minister of Trade Ruhsar
Pekcan acting as witness.