AmCham awards firms for improving Turkey-US ties

ISTANBUL

The American Business Forum in Turkey (AmCham Turkey/ABFT) has awarded the Turkish and U.S. companies that have contributed to the development of Turkey-United States economic relations with their business activity.

AmCham Turkey represents more than 110 U.S. companies, which have a total investment of over $50 billion in Turkey, said forum chair Tankut Turnaoğlu at “I AmChamPion” awards ceremony held in Istanbul late on Dec. 3.

The United States has climbed to the rank of two from eight in the list of Turkey’s top export markets, he also said.
U.S. companies operating in Turkey exports goods worth $10 billion per year, Turnaoğlu said, adding that “there’s a greater potential for the economic and trade relations between the two countries.”
Digital technologies could trigger a rapid advancement in Turkey-U.S. trade relations, said Turkish Industry and Technology Minister Mustafa Varank in a video message sent to the ceremony.

“Turkey is a profitable and safe harbor for your investments,” he said. “Our country’s geopolitical location and strong production infrastructure will bring you closer to large markets and provide an excellent working environment.”
Turkish Trade Minister Mehmet Muş underlined that trade volume of Turkey and the United States increased 24 percent year on year to reach $22.4 billion in the first 11 months of this year.

The two countries are set to break an annual trade volume record of $25 billion in 2021, he added.
Muş also said that the Turkish government will continue to support U.S. investments “based on a win-win approach” in a wide range of sectors from renewable energy and medical technologies to aviation and information technologies.
Scott M. Oudkirk, the deputy chief of mission at the U.S. Embassy in Ankara, said that the Turkish economy has a huge potential.

More than 100,000 people are employed in businesses with a U.S. capital in Turkey, he noted.

Koç Holding Honorary Chair Rahmi Koç received the honorary award at the ceremony.

Turkish startup Blindlook, which makes blind-friendly versions of digital applications using audio-mapping technology, was one of the award winners. The company is in collaboration with Amazon Turkey and Google Turkey.

Gülsan, a partner of U.S. company Procter & Gamble, was awarded for its success in exporting to more than 70 countries.
Kordsa, a global player in the reinforcement technologies market, was honored for its $178 million investment in the United States. Kordsa has acquired Axiom Materials, a progressive composite materials manufacturer. The value-added materials produced by Axiom Materials are considered as the material of the future and widely used in aircraft engines.

Ford Otosan, a joint venture of Koç Holding and U.S. automotive giant Ford, received an award for its $2.4 investment plan for electric and connected commercial vehicle projects at its plants in the northwestern province of Kocaeli.
Corteva Agriscience was given the Regional Hub Award, while U.S. companies Pepsi, UPS and Dow were also awarded in the fields of sustainability, inclusion and innovation, respectively.