Top Businessman Hopes to Strengthen Trade Ties with US

Speaking at a Thursday reception held by the Assembly of Turkish American Associations, or ATAA, and the Federation of Turkish American Associations, or TADF, in Washington, D.C., Hisarcıklıoğlu noted the weak economic ties between two countries.  

The U.S. is one of the “weakest partners” in Turkey’s economic relations across the world, he said. “While Turkey’s exports to all countries have been increasing over the last five years, exports to the U.S. have shown a decreasing trend.”

Turkey should get a place in the vast U.S. market in order to realize its target to rank among the world’s top 10 economies, Hisarcıklıoğlu said. “We are in need of some mechanisms to have a share in this market. The first thing we should do is provide companies both from the U.S and Turkey to undertake joint businesses,” he said. “The second is to adopt venture capital, which are important especially for technology companies. The U.S. is a ‘jumping point’ for Turkey to reach high-technology.”

Trade with Israel
Commenting on the increasing trade volume between Turkey and Israel, the chairman said trade grew 40 percent between the two countries but a considerable decrease has been seen in the tourism sector. “A portion of goods exported to Israel are also sent to Palestinian territories, but there is no chance to distinguish between these,” he said.

Responding to questions from journalists, Hisarcıklıoğlu said TOBB aims to bring together the fastest-growing 25 companies of Turkey with their equivalents from the U.S. to develop joint projects.

Hisarcıklıoğlu also attended the Partners for a New Beginning Summit, which was launched by the U.S. to broaden economic engagement between the U.S. and the Muslim world.