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10.09.2019 14:35 News >> Turkey, US Aim To Achieve Trade Target In Balanced Way

Turkey, US Aim To Achieve Trade Target In Balanced Way

US Commerce Secretary Ross says $100B mutual trade volume target with Turkey to consist of $50B on each side.

Turkey and the U.S. expect to achieve $100 billion of mutual trade target in a balanced way, U.S. Commerce Secretary Wilbur Ross said on Tuesday.
"What we anticipate it to consist of with the $50 billion more from the U.S. side to Turkey and $50 billion more from the Turkish side to U.S.," Ross said at a joint press meeting with Turkish Trade Minister Ruhsar Pekcan in the capital Ankara.
Highlighting that the target was many times of its current level, Ross said: "So we are anticipating that it would be very balanced and greatly enlarged amount of trade."
Ross said although the numbers sound very large, it is relatively small compared to the total trade volume of the U.S.
Ross noted that the real focus of his 5 day-visit to Turkey was to have immediate delivery of goals that are "tangible, concrete and substantial first steps" which subject to the approval of the U.S. and Turkish presidents that would be announced in connection with the UN ceremonies in New York around Sept. 25.
For her part, Pekcan said the two sides prioritized various sectors such as textile, furniture, marble, automotive, civil aviation, cement, and chemicals to increase bilateral trade volume.
Pekcan and Ross also discussed the issues faced by important sectors, particularly the steel sector in Turkey, and the Turkish minister shared suggestions with her U.S. counterpart, she added.
The two sides decided to set up sectoral committees under the chairmanship of countries' trade ministries, Pekcan said.
Pekcan reiterated the importance of mutually removing obstacles to achieve trade target.
"We mentioned the barriers in sectors such as iron and steel, the results of our removal from the Generalized Preferences System [GSP], and possible measures to be implemented in automobile sector," she said, adding: "We have passed our demands and suggestions to the U.S. side." -



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