Froman, Pritzker Call for Strengthened Trade Relations with Turkey as TTIP Negotiations Advance
The Obama administration aims to develop over the coming year initiatives to enhance trade and investment with Turkey, said U.S. Trade Representative (USTR) Michael Froman on May 14, noting the skyrocketing Turkish economy. Froman met with Turkish Minister of Economy Nihat Zeybekci, Deputy Prime Minister Ali Babacan and U.S. Commerce Secretary Penny Pritzker to host a bilateral Framework for Strategic Economic and Commercial Cooperation. U.S. firms exported more than $12 billion in goods and services to Turkey in fiscal year 2013, representing a three-fold increase from ten years ago, said Froman in a press release.
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The USTR chief also vowed to assess the potential impact the Transatlantic Trade and Investment Partnership, the U.S. deal with the European Union that is currently being negotiated, would have on Turkey. “We’re prepared to keep them informed and update them on a regular basis on those negotiations and to ensure that, as the negotiations proceed, that we are very much recognizing [their] legitimate interests, and the minister and I will both monitor this process closely and personally,” said Froman. The Turkish government is striving to break into the top ten economies in the world by 2023, noted Froman. Pritzker will join a trip, along with a President’s Export Council (PEC) delegation, in September to Turkey and Poland aimed at enhancing bilateral commercial relations with both respective countries (here). PEC Vice Chair Ursula Burns, also chair of Xerox Corporation, will participate in the trip.