Türkiye-US Trade Potential: Target Set at 100 Billion Dollars
cevdet-yılmaz
Vice President Cevdet Yılmaz announced on April 21, 2026, that Türkiye and the United States are on a strong trajectory toward a $ 100 billion in trade volume. Speaking at a roundtable meeting organized by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and the U.S. Chamber of Commerce, Yılmaz highlighted that the first quarter of 2026 alone saw a trade volume of $10,4$ billion, signaling a record-breaking performance for the year.
A Strategic “Safe Haven” in Post-War Dynamics
Addressing the geopolitical shifts caused by regional conflicts, specifically mentioning the war involving Iran, Yılmaz positioned Türkiye as a stable anchor and a “safe haven.” He emphasized that while short-term fluctuations in supply chains and energy prices affect the world, Türkiye is preparing for a “new regional environment” with significant mid-term opportunities.
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Strategic Positioning: Türkiye aims to leverage its location to become a hub for digital infrastructure, AI, and cybersecurity.
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New Investment Openings: Yılmaz hinted at “surprising new initiatives” and “investor-friendly steps” to be launched in the coming days, particularly centered around the Istanbul Financial Center.
Balancing the Trade Scale: Focus on FDI and Defense
While trade volume is growing, the Vice President noted a trade deficit trend against Türkiye since 2025, primarily due to increased energy and defense imports. To address this, the government is focusing on high-value-added sectors and balancing foreign direct investment (FDI).
| Investment Category (2003-2025) | Total Value | Key Context |
| US FDI in Türkiye | $16$ Billion | Over 2,300 US companies are active in R&D and production. |
| Turkish FDI in the US | $14$ Billion | Significant performance by Turkish firms in the US market. |
| Trade Target | $100$ Billion | Currently at nearly $40$B annually. |
Defense and Legal Progress
Yılmaz expressed satisfaction with progress regarding Halkbank and called for similar constructive advancements in:
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CAATSA Sanctions: Expectations for progress between the two allies.
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Export Controls: A call for more constructive handling of defense industry regulations.
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Joint Ventures: Encouragement for Turkish and American contractors to collaborate on projects in third regions like Africa and Asia to counter global competition.
The Road Ahead: HIT-30 and Digital Expansion
The Vice President reiterated that the Medium-Term Program (OVP) is being implemented with strong political will. He highlighted that American investments are increasingly focused on digital infrastructure, informatics, and R&D, aligning with Türkiye’s goal of playing a more active role in the global technology ecosystem.
To foster this growth, a new Memorandum of Understanding (MoU) was signed at the meeting, attended by TOBB President Rifat Hisarcıklıoğlu and Chobani CEO Hamdi Ulukaya. The agreement aims to solidify the partnership between the two business worlds, focusing on “result-oriented” cooperation in energy (especially LNG and renewables) and the digital economy.
Source: sde.org.tr