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Fact Sheet: U.S.-Turkey Framework for Strategic Economic and Commercial Cooperation

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FACT SHEET: THE U.S.-TURKEY FRAMEWORK FOR STRATEGIC ECONOMIC AND COMMERCIAL COOPERATION (FSECC) TRADE AND INVESTMENT ACTIVITIES (2010-2011)

AGREEMENTS

  • U.S.-Turkey Business Council: The United States and Turkey have established a joint U.S.-Turkish Business Council.  It will bring together U.S. and Turkish business leaders to provide policy recommendations to both governments on ways to strengthen bilateral economic relations.  The Business Council will meet in 2011.
  • Invest in America Potential Memorandum of Intent (MOI) with Investment Support and Promotion Agency of Turkey:  The United States and Turkey have finalized text on a formal MOI to undertake relevant activities through their respective inward foreign direct investment promotion programs.  The MOI will be signed later this year.
  • US-Turkey Small and Medium-Sized Enterprise (SME) Collaboration:  The U.S. Small Business Administration (SBA) has agreed to enter into negotiations with the U.S. Department of Commerce and its Turkish counterpart KOSGEB on a trilateral Memorandum of Understanding (MOU), which would lay out areas of bilateral SME cooperation.  The Department of Commerce’s Minority Business Development Agency has also agreed to enter into talks on a similar MOU with KOSGEB to promote development opportunities for Minority Business Enterprises.

Developing Intergovernmental INITIATIVES for Strengthening Economic and Commercial Cooperation

  • Good Manufacturing Practices (GMP) Workshop:  The U.S. Department of Commerce is organizing an informal best practice workshop in Turkey on U.S. Food & Drug Administration (FDA) pharmaceutical GMP regulations and inspections. GMP technical and policy experts will provide a better understanding of the U.S. FDA’s good manufacturing quality system, which was established to ensure the health and safety of pharmaceuticals and other consumer goods.
  • Waste-to-Energy Feasibility Study:  A U.S. Trade & Development Agency (USTDA) grant awarded to the municipal waste management company for the Istanbul Metropolitan Municipality will fund a feasibility study on a proposed 70 megawatt municipal solid waste waste-to-energy facility in Istanbul.
  • Working Group on Intellectual Property Rights:  U.S. and Turkish government officials from various agencies and ministries will establish a working group charged with examining and finding practical ways forward on increasingly complex bilateral issues involving the protection of intellectual property.
  • Flood Forecasting and Early Warning System Feasibility Study:  A USTDA grant awarded to Turkey’s State Meteorological Service will fund a feasibility study on the development of a national system that will be used to formulate flood forecasts and provide Turkish citizens with the maximum amount of time to prepare for floods.
  • Transportation Sector Information and Communications Technology Reverse Trade Mission:  In early 2011, USTDA will conduct a visit to the United States for delegates from the Turkish Ministry of Transportation and Communications.  The delegates will participate in site visits and meet with representatives of U.S. companies and government agencies.
  • Emergency Management Sector Reverse Trade Mission:  In late 2010, USTDA will conduct a visit to the United States for delegates from the Istanbul Metropolitan Municipality, the Istanbul Governorship, and the Prime Ministry Disaster and Emergency Management Authority.  The delegates will participate in site visits and will meet with representatives of U.S. companies and government agencies.  
  • New York State Office:  Following the recent opening of the State of New York International Trade & Investment Office in Istanbul, the U.S. Government will work with Istanbul and New York-based officials to encourage the substantial growth of activity between New York State and regional New England companies with potential Turkish partners.
  • Export Enhancement Strategy:  The United States Government has identified Turkey as a priority market due to its considerable market potential.  The interagency Trade Policy Coordination Committee (TPCC) has recently developed an Export Enhancement Strategy for Turkey, targeting specific sectors for increased U.S. exports.

Increasing Awareness and Information Exchanges

  • Renewable Energies Trade Mission to Turkey Fall, 2011:  The U.S. Embassy’s Commercial Service in Ankara will provide customized one-on-one meetings and will organize group meetings/round tables with energy associations.  There will also be briefings by Embassy Officials, calls on senior Turkish Government officials, networking events and receptions, and possible site visits.
  • Export Promotion Orientation and Training:  The U.S. Embassy’s Commercial Service in Ankara will provide three seminars on how the U.S. Commercial Service promotes U.S. goods and services abroad.  The Seminars would be delivered in 2010-2011.
  • U.S. & Foreign Commercial Service Awards Program:  The U.S. Embassy’s Commercial Service recently began an award program for key Turkish private sector and government officials who have built bridges through expanded U.S. and Turkish trade.  Five awards have already been presented and more will be distributed later this year.

Increasing Cooperation and Partnership Between Private Sectors

  • Near Zero Zone Project:  The U.S. Department of Energy is developing an inter-agency initiative for Turkey called the Near-Zero Zone. The project will leverage resources from various U.S. government agencies, international entities and the private sector to maximize the impact of energy efficiency measures through a focus on a single industrial zone in Izmir, Turkey.
  • Eurasian Oil & Gas Suppliers Trade Mission to Kazakhstan and Turkey April, 2011:  U.S. companies will travel to Turkey and Kazakhstan for customized appointments with prospective partners, distributors or end-users.  Additionally, participants will receive market briefings, participate in the annual TengizChevrOil (TCO) vendor forum in Kazakhstan and be hosted by TCO for a first-hand tour of the fields.
  • Regional Conference for Women Business Owners:  On January 25-27, 2011, the Department of State will convene this conference in Istanbul, with approximately 125 participants.  The event will launch the Invest for the Future Initiative, a three-year mentoring and exchange program for women in business.