Turkish Business Delegation Attends Investment Summit Hosted by Obama

“The Turkish delegation, including information and communications, agricultural, and service firms, will learn more about investing in the United States, meet with economic development officers from over forty-seven American states, and develop or expand investment plans in the United States. As of 2012, cumulative Turkish investment in the United States totaled approximately USD one billion, in a wide range of sectors including textiles, ceramics, and construction,” the embassy added in its announcement.

President Obama was set to address the summit on the afternoon of Oct. 31 and Secretary of State John Kerry will also deliver remarks at the inaugural gathering on Nov. 1.

Earlier this week, during a series of visits in the United States by a delegation led by Deputy Prime Minister Ali Babacan on the occasion of “Turkey Investment Week II,” the two countries’ officials declared plans to develop closer economic and trade ties by taking a series of steps.

Accordingly, the U.S. Chamber of Commerce will open a representative office in Istanbul and an American-Turkish Business Council will be established to develop more economic and trade relations between the two countries.

Back in December 2012, leading business organizations in Turkey and the United States marked a concrete step toward improving bilateral commercial relations between the two countries by signing a memorandum of understanding (MoU).

The MoU is aimed at paving the way for new market opportunities for both sides and will particularly be useful in expanding export markets during a period of crisis, Babacan said at the time.(HDN)