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Our first visit was to the American Consolidate General. We met with an economic adviser that ironically had previously worked at AOL. He was just completing his two year tour in Istanbul. The diplomatic staff was just recovering from Secretary of State Hillary Clinton's visit to Turkey.
We were provided a presentation that included an overview of Turkey's economic importance in the region and the world and the importance of trade relationship between the United States and Turkey. We learned of the significant positive trade imbalance that benefited the United States.
Turkey’s strong economic growth, infrastructure build out, growing import market and positive brand appeal of “Made in the USA” products, services and technology have made this country a $10 billion market for American exporters. Major U.S. firms such as Boeing, Chevron, Cummins, General Electric and Sikorsky are among over 1,000 small, medium and large U.S. firms with offices in Turkey.
In 2010, the U.S. Department of Commerce designated Turkey as one of only a handful of priority markets under President Obama’s National Export Initiative. We also learned that Istanbul is also Turkey’s largest industrial center. It employs approximately 20% of Turkey’s industrial labor and contributes 38% of Turkey’s industrial workspace. Istanbul produces cotton, fruit, olive oil, silk and tobacco. Some of the city’s major industrial products are food processing, textile production, oil products, rubber, metal ware, leather, chemicals, pharmaceuticals, electronics, glass, machinery, automotive, transport vehicles, paper and paper products and alcoholic drinks. According to the March 2008 issue of Forbes magazine Istanbul had a total of 35 billionaires ranking fourth in the world, the helps put into perspective their rapid growth in high rises and very expensive land costs within Istanbul.
Our first visit was to the American Consolidate General. We met with an economic adviser that ironically had previously worked at AOL. He was just completing his two year tour in Istanbul. The diplomatic staff was just recovering from Secretary of State Hillary Clinton's visit to Turkey.
We were provided a presentation that included an overview of Turkey's economic importance in the region and the world and the importance of trade relationship between the United States and Turkey. We learned of the significant positive trade imbalance that benefited the United States.
Turkey’s strong economic growth, infrastructure build out, growing import market and positive brand appeal of “Made in the USA” products, services and technology have made this country a $10 billion market for American exporters. Major U.S. firms such as Boeing, Chevron, Cummins, General Electric and Sikorsky are among over 1,000 small, medium and large U.S. firms with offices in Turkey.
In 2010, the U.S. Department of Commerce designated Turkey as one of only a handful of priority markets under President Obama’s National Export Initiative. We also learned that Istanbul is also Turkey’s largest industrial center. It employs approximately 20% of Turkey’s industrial labor and contributes 38% of Turkey’s industrial workspace. Istanbul produces cotton, fruit, olive oil, silk and tobacco. Some of the city’s major industrial products are food processing, textile production, oil products, rubber, metal ware, leather, chemicals, pharmaceuticals, electronics, glass, machinery, automotive, transport vehicles, paper and paper products and alcoholic drinks. According to the March 2008 issue of Forbes magazine Istanbul had a total of 35 billionaires ranking fourth in the world, the helps put into perspective their rapid growth in high rises and very expensive land costs within Istanbul.
