TOBB head invites US companies to invest more in Türkiye

ANKARA

Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has called on U.S. investors to invest more in Türkiye.

Speaking at the Türkiye-US Greentech Tech Delegation Working Dinner held in the Turkish capital Ankara, Hisarcıklıoğlu stressed that they prioritize Türkiye-U.S. relations and that the economic pillar of the relations between the two countries is getting stronger.

Deputy Trade Minister Mustafa Tuzcu, senior advisor to the U.S. Presidential Special Envoy for Climate, Ambassador David Thorne and Senior Vice President of the U.S. Chamber of Commerce Marty Durbin attended the event.

“We are focused on improving our commercial relations and providing a better investment and business environment. Investments have become an important dimension of our economic relations,” Hisarcıklıoğlu said.

The U.S. is the number one destination for Turkish investments abroad and that Turkish companies have invested $9.7 billion in the U.S., he noted.

“We invite U.S. investors to invest more in Türkiye. We opened a trade center in Chicago to help bilateral investment and trade. Bilateral trade volume reached a record high of $33 billion in 2023 and the upward trend continues,” he said, but stressed that trade between the two countries should be more liberal.

A free trade agreement or a preferential trade agreement would give a boost to the bilateral trade, according to Hisarcıklıoğlu.

For his part, Durbin said that the U.S. Chamber of Commerce, has set ambitious goals between Türkiye and the U.S. on green transformation, emission reduction and climate change.

The private sector is an important partner in such efforts, he added.

“As the private sector, we can accelerate the green transformation and the energy transition while at the same time strengthening energy security. If we work together, it is possible to achieve both,” Durbin said.