Turkey has asked the United States to lift the trade barriers between the two countries, during negotiations aimed at a sharp increase in bilateral trade volumes. This was stated by Turkey’s trade minister.
According to Reuters, Washington and Ankara have set an ambitious goal of quadrupling trade volumes, bringing them up to $100 billion annually.
Turkey’s Trade Minister Ruhsar Pekcan has conveyed to US Secretary Wilbur Ross the clear expectation of removing certain barriers that hinder the prospects of bilateral trade.
It should be noted that in May, the White House announced that it would terminate the preferential trade agreement with Turkey, stating that Turkey’s level of economic development no longer allows it to be entitled to receive support.
Turkey may also face sanctions imposed by its NATO ally, in connection with the delivery of the S-400 in July.
Pekcan said that the parties discussed increasing Turkey’s export volumes in the sectors of civil aviation, machinery, jewelry, furniture, textiles and clothing production.
The US Embassy stated that Ross and Pekcan had agreed that increasing the trade volume by $10 billion would require intense work on both sides. The United States stated that in 2017, the trade turnover with Turkey amounted to $24 billion.
