Newsletter | April 28

U.S.-Turkey Business Council Roundtable with Minister of Treasury and Finance of Turkey

On April 19, the U.S.-Turkey Business Council hosted a roundtable with H.E. Dr. Nureddin Nebati, Minister of Treasury and Finance of Turkey and private sector representatives in Washington, D.C.. Minister Nebati briefed companies about Turkey’s positive growth divergence post-pandemic and the strong fundamentals contributing to Turkey’s resilient economic outlook. The Minister offered insights about Turkey’s new economic model, and its borrowing strategy to continue strong economic growth and combat inflation.  Companies engaged the Minister in a discussion session about business and policy updates in Turkey.

Latest Developments in U.S.-Turkey Relations

A U.S. congressional delegation visited Turkey that included senators Richard Shelby, Debra Fischer, Roger Marshall, Thomas Tuberville; members of the House of Representatives Norvell Kay Granger, Jerry Carl and some other officials, including US Ambassador to Ankara Jeff Flake. The delegation met with Chief Advisor to President Erdogan Ibrahim Kalin and Justice and Development (AK) Party's Ankara deputy Ali Ihsan Arslan. During the meeting, they discussed energy security, defense cooperation, bilateral political and economic relations, and regional issues such as Syria, Azerbaijan, Armenia, Israel and Russia-Ukraine War.

In Case You Missed It

U.S.-Turkey Joint Statement on the Strategic Mechanism

State Department | April 4, 2022

In keeping with the commitment made by Presidents Biden and Erdogan during their meeting in Rome in October 2021, the United States and Turkey launched the U.S.-Turkey Strategic Mechanism on April 4 in Ankara. Under Secretary of State Victoria Nuland and Deputy Foreign Minister Sedat Onal, with their respective delegations, met in Ankara to review topics of mutual interest, including economic and defense cooperation, counterterrorism, and key areas of shared regional and global interest.  They reiterated their shared commitment to the sovereignty and territorial integrity of Ukraine.

Readout of Undersecretary of Commerce Marisa Lago's Visit to Turkey
International Trade Administration Press Release | April 6, 2022

Between April 5-6, Under Secretary Lago traveled to Ankara, Turkey, where she participated in a series of engagements to advance the U.S.-Turkey commercial relationship and promote clean and secure energy alternatives in the region. Her visit included in-person opening remarks at the groundbreaking Eurasia Small Modular Reactor Forum, an event organized by ITA and designed to catalyze exports of clean, innovative energy technologies.

The Under Secretary also held bilateral engagements with Deputy Minister of Energy Alparslan Bayraktar, Deputy Minister of Trade Mustafa Tuzcu, and the President of the Turkish Space Agency Serdar Huseyin Yildirim, during which she discussed bilateral coordination and opportunities to further deepen the U.S.-Turkey commercial relationship.

U.S. Says Potential Sale of F-16 Fighter Jets to Turkey would serve U.S. interests and bolster NATO unity

Daily Sabah| 6 April 2022

The Biden administration believes a potential sale of F-16 fighter jets to NATO ally Turkey would be in line with U.S. national security interests and would also serve NATO's long-term unity, the U.S. State Department said in a letter to Congress that fell short of explicitly supporting the deal.

The letter comes after Turkey made a request in October to the United States to buy 40 Lockheed Martin-made F-16 fighters and nearly 80 modernization kits for its existing warplanes.

The State Department letter, first reported by Reuters, is dated March 17 and signed by the agency's top legislative official Naz Durakoğlu. She acknowledges the strained relations while at the same time describing Turkey's support and defense ties with Ukraine as "an important deterrent to malign influence in the region."

While the letter doesn't provide any assurance or a timeline for the sale, it emphasizes that Washington's punitive actions after Ankara's purchase of the Russian S-400 systems represent "a significant price paid."

"The Administration believes that there are nonetheless compelling long-term NATO alliance unity and capability interests, as well as U.S. national security, economic and commercial interests that are supported by appropriate U.S. defense trade ties with Turkey," the letter said.

"The proposed sale will require a Congressional notification if the Department of State were to approve it," it added. Read the full article here.

Upcoming Events

• May 18: Visit of H.E. Minister of Foreign Affairs Mevlut Cavusoglu to Washington, DC
• June 21-22: American-Turkish Conference

For more information, please contact U.S.-Turkey Business Council staff.

Supported Events

• Eurasia Healthcare & Medical Technologies Coffee Series hosted by the U.S. Commercial Service
  • June 7: Azerbaijan
• June 26-29: Select USA Investment Summit

New Member Announcements

With two manufacturing facilities located in Istanbul, Turkey and one in Turin, Italy,  R&D centers located in both countries, and 6 direct sales offices (France, Italy, Malaysia, Singapore, Thailand, Turkey) and 600+ employees selling in more than 80 countries worldwide, Alvimedica continues to expand its distribution network every year.

Mars has been proudly family owned for over 100 years. It’s this independence that gives us the gift of freedom to think in generations, not quarters, so we can invest in the long-term future of our business, our people and the planet — all guided by our enduring Principles.

They believe the world we want tomorrow starts with how we do business today. And their bold ambitions must be matched with actions today from our 130,000 Associates in 80 countries around the world.

In 2003 Mars opened office in Istanbul. Whether it's the simple pleasure of savoring the world's best-loved chocolate and confectionery, or the warmth that a healthy pet brings to your family, Mars is the company behind many of the enduring brands Turkish citizens have come to know and trust. These brands are SNICKERS®, M&MS®, TWIX®, ORBIT®, SKITTLES®, MARS®, BOUNTY®, WHISKAS®, KITEKAT®, SHEBA®, PEDIGREE®, PERFECT FIT®, DREAMIES®.

United Group was founded in Turkey in 1974. Along with the transformation in 2014, the Group began producing creative solutions to sectoral needs through activities in the fields of; Facility management, Security - Surveillance, Professional Cleaning, Automotive, Construction, Training and Technology (Telemetry, Automotive and Defense Industry). Today, United Group is a holding composed of over 13,000 white and blue collar employees with a turnover of 1.5 billion TL. United Group is a venture capital and private equity group focusing in International Business Development, collaborating and joining forces with strategic partners and distributors for its 12 subsidiaries in 3 main sectors: corporate services, construction, and technology. Some of its subsidiaries include UFS, UnitedYapi, Ortem, and Mahrek Teknoloji.

Members in the News

Amazon to open Turkey site with more than $100 milion investment

Reuters| March 23, 2022

Amazon.com Inc (AMZN.O) said on Wednesday it will set up a logistic base in Turkey to meet rising demand, with a more than $100 million investment.

It said the facility will create more than 1,000 jobs in its first year, and will support the domestic and export operations of the small- and mid-sized businesses that sell products on the site.

The Istanbul-based logistic centre will open in the autumn this year, the e-commerce giant added.

Microsoft Turkey R&D Center Opened

Railly News | March 18, 2022

The R&D center, which will operate within Microsoft Turkey, was opened. Center; public stakeholders and Turkey's start-up ecosystem will be brought together, and studies will be carried out to reveal the potential of Turkish companies in domestic software and innovation. Noting that the R&D center will contribute to the innovation ecosystem of our country, Minister of Industry and Technology Mustafa Varank said, “Our door is always open to all technology companies that want to invest in Turkey. Come invest in Turkey, together kazanbuy,” he said.

The opening of the Microsoft Turkey R&D Center, Industry and Technology Minister Mustafa Varank, President of the Presidency Digital Transformation Office Dr. Ali Taha Koç, Microsoft Europe, Middle East and Africa Region President Ralph Haupter and Microsoft Turkey General Manager Levent Özbilgin.

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