Trade Winds Forum: American companies exhibit growing interest in Türkiye’s economy
Delegates from 150 American businesses are set to participate in the Trade Winds conference scheduled for May in Istanbul, to zero in potential investment and collaboration prospects
Officials from the U.S. embassy noted a surge in confidence within the Turkish market. Several American companies consider Türkiye a promising market and express a growing interest in the country for the foreseeable future.
The forthcoming Trade Winds forum in Istanbul from May 13-15 will mark a significant move in this direction, where executives from America’s top Fortune 500 companies will deliberate on investments and collaborative ventures in other countries.
Trade Winds serves as a U.S. government-driven trade expedition and business enhancement platform.
It is a comprehensive initiative tailored to support companies in expanding and gaining visibility in specific global markets or regions.
Fresh opportunities have emerged following discussions between Foreign Minister Hakan Fidan and U.S. Secretary of State Antony Blinken in March, as conveyed by Heather Byrnes, minister counselor for commercial affairs, and Etienne LeBailly, economic counselor at the U.S. embassy in Ankara.
The strategic talks have led to advancements in rekindling conversations across various critical sectors, notably the economy.
Particularly, American enterprises are keen on Türkiye’s renewable energy market, recognizing its global significance.
American firms are expected to escalate their investments in Türkiye’s solar and wind energy sectors in the upcoming period.
Furthermore, the healthcare industry has been a focal point for U.S. companies.
Venturing into technology, digital investments and personal data security, American corporations aim to enhance partnerships in these domains.
The investment prospects in these areas will be deliberated during the forthcoming Trade Winds forum.
Türkiye and the U.S. aspire to elevate their bilateral trade volume to $100 billion.
To date, American businesses have poured in a cumulative sum of 50 billion, providing employment opportunities for approximately 100,000 individuals, whereas Turkish companies have invested around 2.7 billion in the U.S.
According to a report by the International Investors’ Association (YASED), the U.S. topped the charts in foreign direct investment equity inflows into Türkiye in January, with Germany and the United Kingdom following suit.
The U.S.’s share of these inflows surged from 8% in 2002-2023 to 44% in January 2024.
Source: Newsroom
