Türkiye, US eye stronger economic ties amid $100B trade target: Finance Minister

Türkiye remains committed to strengthening its strategic partnership with the United States across various economic sectors, Treasury and Finance Minister Mehmet Simsek said following a meeting with U.S. Treasury Secretary Scott Bessent in Washington, D.C., on Wednesday.

“The potential for our cooperation is enormous, with significant opportunities for both nations. We look forward to building on this momentum to drive economic growth, foster technological advancement, and invest in regional peace and security,” Simsek stated in a post shared on social media platform X on Thursday.

Thank you @SecScottBessent for our productive discussions.

Under the leadership of President @RTErdogan and President Trump, Türkiye is committed to deepening & broadening our strategic partnership with the United States across all fronts – from trade & investment to defense,… https://t.co/KoYjUoeMSL

— Mehmet Simsek (@memetsimsek) April 24, 2025

The meeting, which also included Turkish central bank’s governor Fatih Karahan, was held in what officials described as a “constructive atmosphere.” Both sides underscored the shared political will of Presidents Recep Tayyip Erdogan and Donald Trump to deepen multidimensional relations between the two countries.

US-Türkiye $100 billion trade goal remains on the agenda

Discussions primarily focused on expanding cooperation in key sectors such as investment, trade, transport, and energy. Simsek emphasized the importance of removing existing restrictions to facilitate greater collaboration in the defense industry.

The Turkish delegation also provided U.S. officials with a briefing on Türkiye’s ongoing economic stabilization program, outlining the reforms and measures being implemented to ensure sustainable growth.

Additionally, the parties exchanged views on regional developments. Turkish officials stressed the need to lift international sanctions on Syria and detailed Türkiye’s diplomatic efforts aimed at achieving a cease-fire and promoting peace in Ukraine.

Talks further addressed ways to strengthen bilateral economic ties. Both countries maintain a relatively balanced trade relationship and have been working toward the shared goal, initially set during President Trump’s first term, of increasing bilateral trade volume to $100 billion.

Scott Bessent also noted that he underscored the Trump administration’s dedication to maintaining the maximum pressure policy on Iran.

Meanwhile, as part of his visit to Washington for the International Monetary Fund (IMF) and World Bank Spring Meetings, Minister Simsek also held talks with IMF Managing Director Kristalina Georgieva.

In a statement posted on X, Georgieva said, “I had a productive discussion with Finance Minister Mehmet Simsek on Türkiye’s economic outlook and the policies needed to further bolster economic growth.”