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US Wants to Increase Trade with Turkey

Posted on Mar 31 2012 by spotblue

In a session discussing US relations with Europe and Eurasia, the House of Representatives’ Foreign Affairs Committee has concluded that the US must increase trade with Turkey and Russia, because of their strategic location and growing economies.

The committee said that Turkey’s pharmaceutical industry presented a particularly good opportunity for US investment and expansion, suggesting that Turkey take action to make the sector more open to foreign companies. According to the Anatolia news agency, high level talks are currently underway aimed at doing just that.

U.S. Chamber of Trade for Europe and Eurasia region Vice President Peter Rashish said that trade between the U.S. and Turkey was far too low given the level of economic and political relations between the two countries.

Rashish added that Turkey’s aim of becoming one of the 10 largest economies in the world by 2023 was difficult but not impossible given the country’s economic growth over the past 10 years, and that the US could play a part in making it happen. One wonders though, is it a coincidence that the US is making such moves so soon after Turkey bowed to US pressure and sanctioned Iranian oil imports?

Not that it matters. The US and Turkey have a long history of good relations and mutual back-scratching has been a regular feature of this relationship, like any other international political relationship known to man, so it is not exactly a huge scandal. The main thing is the extra growth in the Turkish economy the US can still bring to bear.

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