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 during a press meeting held 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.
In 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.