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Blog Category: Turkey

President’s Export Council Espouses Commercial Diplomacy

Robert Wolf, Founder and Chief Executive Officer of 32 Advisors

Guest blog post by Robert Wolf, Founder and Chief Executive Officer of 32 Advisors.

As a member of the President’s Export Council (PEC), I had the good fortune of going to Poland and Turkey with a group led by Secretary of Commerce Penny Pritzker along with CEOs from Archer Daniels Midland, Lockheed Martin, Marriott, UPS, Vermeer and Xerox as well as representatives from other member firms.  The PEC, comprised of companies with an aggregate market capital of over $850 billion, chose Poland and Turkey for our inaugural trip with the Secretary as we view these countries, first and foremost, as high priority economically important growth markets in addition to being strategically significant.

During the trip I wore two hats: one as an ambassador for US businesses broadly promoting the President’s National Export Initiative and US foreign direct investment priorities and, second, as a businessman in representing a cross-border advisory on a fact finding mission to explore Poland and Turkey as good places to enhance our business relationships and our client’s growth initiatives.

I learned that both Poland and Turkey want many of the same things as the US: transparency, public/private partnerships, infrastructure investment, an all-in energy approach and a skilled labor force/education.

What I found while visiting with both public and private leaders was that there are some incredible market opportunities for US businesses. Given the impressive strides both countries have made in recent years, I am not particularly surprised.

Secretary Penny Pritzker to Lead High-Level U.S. Business Delegation to Poland and Turkey

Secretary Pritzker met with young entrepreneurs, who are the future of a stronger Ukrainian economy, during her commercial diplomacy trip to Kyiv, Ukraine.

U.S. Secretary of Commerce Penny Pritzker will lead a high-level delegation of America’s top CEOs on an economic fact-finding mission next week to Poland and Turkey. Secretary Pritzker and the CEOs, all of whom are members of the President’s Export Council (PEC) will use the trip to identify immediate and long-term opportunities to increase trade and investment between the U.S. and Poland and the U.S. and Turkey, two high-potential, fast-growing markets. Through greater understanding of these markets, the Department of Commerce and the President’s Export Council can help U.S. companies gain better access to Poland and Turkey, so they can sell more of their goods and services abroad and support jobs here at home.

Following this trip, the PEC CEOs joining the mission will apply their commercial expertise to produce a report for President Obama, which will recommend actions the U.S. government can take to address challenges and increase trade and investment between the U.S. and Poland, and the U.S. and Turkey

Just prior to the PEC mission, Secretary Pritzker will visit Kyiv, Ukraine. Secretary Pritzker's visit to Ukraine was announced by President Obama during Ukrainian President Poroshenko’s visit to Washington, D.C. last week.  Secretary Pritzker, whose family comes from Ukraine, will use her time there to discuss with Ukrainian government and business leaders the reforms necessary to improve their business climate, attract private capital, expand opportunity, and strengthen the economy for greater investment and growth. She will also explore potential opportunities for additional commercial cooperation between the U.S. and Ukraine.

After her stop in the Ukraine, Secretary Pritzker will join the eight PEC members and Under Secretary of Commerce for International Trade Stefan M. Selig in Warsaw, where they will meet with Polish government officials and business leaders and gather insight on opportunities and challenges facing U.S. companies in each respective market. Following the stop in Warsaw, the group will continue on to Istanbul and Ankara, Turkey.

Acting Commerce Secretary Rebecca Blank Wrapped up Her Visit to Turkey with Concrete Steps to Advance the U.S-Turkish Commercial Relationship

Acting Secretary Blank Co-Chairs the U.S.-Turkey Framework for Strategic Economic and Commercial Cooperation  with U.S. Trade Representative Ron Kirk,  Deputy Prime Minister Ali Babacan and Minister of the Economy Zafer Caglayan

Acting U.S. Commerce Secretary Rebecca Blank wrapped up her visit to Turkey after co-chairing the second meeting of the U.S.-Turkey Framework for Strategic Economic and Commercial Cooperation (FSECC) with U.S. Trade Representative Ron Kirk in Ankara yesterday. The Turkish delegation was led by Deputy Prime Minister Ali Babacan and Minister of the Economy Zafer Caglayan.

The FSECC was created following the first meeting between President Obama and Turkish President Gul in April 2009. The two leaders tasked the U.S. and Turkish governments to create a framework to help substantially increase the trade and investment flows between both countries to help strengthen the economic dimension of our partnership. The meeting focused on opportunities for increased bilateral trade and investment relations to create jobs in both countries, and the ministers agreed on several concrete steps to advance the U.S-Turkish commercial relationship. The Acting Secretary promoted increased Foreign Direct Investment, including calling for greater Turkish FDI to the U.S., highlighting Commerce’s SelectUSA initiative. The four principals made a joint statement after the meeting.

During the meeting, Acting Secretary Blank announced that the Commerce Department's International Trade Administration will lead an Aerospace and Defense Industry Trade Mission to Turkey in December 2012. She also applauded the work that has been done so far to increase bilateral trade between the U.S. and Turkey.  She emphasized the work that must be done to continue to advance the U.S.-Turkey trade relationship, such as overcoming market access barriers, furthering cooperation on intellectual property rights, and enabling businesses to take advantage of opportunities in key sectors such as renewable energy, financial services, and infrastructure.

Acting Secretary Blank Encourages Turkish Investment to Create American Jobs

U.S.-Turkey

U.S. Acting Commerce Secretary Rebecca Blank visited Istanbul today to meet with U.S. and Turkish business leaders to advance commercial and trade relations between the United States and Turkey. This is the first visit to Turkey by a U.S. Commerce Secretary in 14 years.
 
Acting Secretary Blank, along with U.S. Trade Representative Ron Kirk, are leading a delegation of senior U.S. Government officials, including representatives from the Department of State, the Department of Energy, the U.S. Trade and Development Agency, U.S. Export-Import Bank and the National Security Staff.
 
Throughout the meetings and events, Acting Secretary Blank highlighted President Obama and Prime Minister Erdogan's goal of elevating our commercial relationship with Turkey to the strategic level, contributing to the peace and prosperity of citizens of both countries and the world.
 
Acting Secretary Blank and Ambassador Kirk met with U.S. companies that are active in the Turkish market to hear their views on the commercial environment in Turkey, and learn how the U.S. government can help grow their businesses, and support jobs and growth in Turkey and in the United States.

Secretary Bryson Talks about Turkish-American Economic Cooperation

Secretary Bryson and Members of the Confederation of Businessmen and Industrialists of Turkey

Today, U.S. Commerce Secretary John Bryson delivered keynote remarks at a luncheon co-hosted by the Center for American Progress and the Confederation of Businessmen and Industrialists of Turkey (TUSKON). The event, titled “Building on the Progress in Turkish-American Economic Cooperation,” comes at an exciting time in U.S.-Turkish relations, with bilateral trade reaching a record level of $20 billion this past year.

Turkey is the world’s-17th largest economy, and was the world’s second-fastest growing economy in 2011.

During his remarks, Bryson talked about the president’s National Export Initiative, which aims to double U.S. exports from 2010 to 2014. He noted that U.S. exports to Turkey have already doubled.

Over the past two years, the U.S. and Turkey have come together through the Framework for Strategic Economic and Commercial Cooperation. Secretary Bryson announced today that he plans to attend the next Framework meeting that will be held in Turkey in late June.

Secretary Bryson also emphasized the importance of stronger bilateral investment, including efforts such as SelectUSA.

Bryson ended his remarks by saying, “Let’s do everything possible to usher in a long and prosperous era–as the bonds between our two nations continue to grow in the 21st century.”

Secretary Locke Discusses the U.S.-Turkey Trade Relationship

Secretary Locke Delivers a Keynote on Strengthening Turkish-American Economic Relations

Today, Secretary Locke delivered keynote remarks at an event jointly hosted by the Center for American Progress and the Confederation of Businessmen and Industrialists of Turkey (TUSKON).  He discussed the U.S.-Turkey trade relationship and its importance for the strategic partnership between the two countries. Turkey and the United States conducted nearly $15 billion in bilateral trade last year – an almost 40% rise from the previous year, and the most trade ever between Turkey and the U.S. This trade was helped along by Turkey's impressive resilience in the wake of the global financial crisis. Last year, Turkey posted economic growth of over 7%.

To further our trade relationship, In December 2009, President Obama and Prime Minister Erdogan launched a new strategic framework to strengthen our economic bonds, the Framework for Strategic Economic and Commercial Cooperation. The framework elevates the responsibility for increasing our economic dialogue to the highest levels of both our governments.

That framework has focused on enhancing our business-to-business ties and how we can promote innovation in both Turkey and the United States.  Particularly on issues like:

  • Promoting renewable energy;
  • Incentivizing more entrepreneurship;
  • Helping Istanbul fulfill its role as a European and global financial center; and
  • Empowering small and medium-size enterprises

To help meet those goals, the Department of Commerce plans to schedule two trade missions to Turkey later this year – one with U.S. oil and gas companies and another with renewable energy companies.

Read Secretary Locke’s full remarks.

Secretary Locke and Ambassador Kirk Welcome New Strategic Framework with Turkey

Secretary Locke, Ambassador and Deputy Prime Minister Ali Babacan respond to press questions from the stage. Click for larger image.

Secretary of Commerce Gary Locke and United States Trade Representative Ron Kirk inaugurated a new process of engagement with the government of Turkey on economic and trade issues. The new policy structure, to be known formally as the “Framework for Strategic Economic and Commercial Cooperation” (Framework), was unveiled on the occasion of the visit of Turkish Prime MinisterRecep Tayyip Erdogan to the White House. (More)