The first and the 16th largest economies in the world should have better trade relations, said US Consul General Scott Kilner, who assumed his duties in İstanbul in September 2010. “Bilateral trade is roughly $11 billion in both directions. It should be a lot bigger than that for the first largest and the 16th largest economies in the world. Turkish trade with a number of European countries, and now with Iraq is bigger than with the US,” Kilner told Sunday’s Zaman. Kilner referred to US President Barack Obama, Turkish President Abdullah Gül and Prime Minister Recep Tayyip Erdoğan’s commitment for setting up the framework for an increase in trade relations.
The trade volume between the two countries reached almost $13 billion in 2010, the flow is in the US’s favor as Turkey’s imports from the US are more than double the volume of its exports to the country. In 2009, US exports to Turkey were $7.09 billion while imports from Turkey were $3.66 billion, bringing total bilateral trade to $10.75 billion.