Turkey, US trade volume must rise, Turkish groups urge

NEW YORK

Economic relations must improve and trade volume must increase between Turkey and the U.S., Turkish business leaders urged Wednesday.

"We are not happy with the volume of trade between Turkey and the U.S.," the President of Foreign Economic Relations Board (DEIK) Omer Cihad Vardan said at the eight Turkey Investment Conference in New York.

"We have a lot to offer. Turkey is open for business and will support global growth with patience," he added.

Vardan stressed that Turkey has continued to grow, invest and receive foreign direct investment despite the 2008 financial crisis that resulted in less trade, less manufacturing, and less investment around the world.

He said despite the setbacks, "Invest in Turkey. Trade with Turkey. Use Turkey as a hub," and touted the fact that Turkey has trade relations with 126 countries.

Ekim Alptekin, who heads the Turkey U.S. Business Council (TAIK) emphasized that the Turkish economy showed resilience against the 2008 financial crisis.

"[President Recep Tayyip] Erdogan did a great job of managing the economy in a very volatile time. In the beginning, I didn't think there would be continuity but he pulled a great job," he said.

Alptekin stressed that extreme resilience in a volatile environment is the result of good economic policies in Turkey, but said more could be done to strengthen economic times between Turkey and the U.S.

"Turkish-American economic relations is not at the level that it should be. It's not nearly enough," he said.