Business · Companies · 10 hrs ago
Turkey-US trade expected to exceed $42 billion this year, minister says
Turkey’s Trade Minister Ömer Bolat said trade between Turkey and the US is expected to exceed $42 billion this year.
He made the remarks at a summit in Turkey that brought together technology startups and international investors.
Bolat said the two countries’ trade reached $38.5 billion last year, up 13% from the year before.
He said US companies have invested $16.5 billion directly in Turkey, while Turkish investors have made $14.5 billion in direct investments in the US.
The two governments’ stated goal is to raise bilateral trade to $100 billion.
Bolat said Turkey’s startup ecosystem grew 9.4 times from 2019 to 2024 and that cooperation could help Turkish startups gain funding and access to international markets.
The summit brought together more than 100 startups seeking investment and more than 50 international fund investors and managers, with the aim of developing new partnerships.
Turkey-US trade is expected to exceed $42 billion this year, Trade Minister Ömer Bolat said.
Bolat said bilateral trade reached $38.5 billion last year, up 13%.
He said US companies have invested $16.5 billion directly in Turkey, while Turkish investors have made $14.5 billion in direct investment in the US.
The two countries have set a bilateral trade target of $100 billion.
Bolat made the remarks at the GO GLOBAL Türkiye Summit.
- Who
- Turkish Trade Minister Ömer Bolat.
- What
- He said Turkey-US trade is expected to exceed $42 billion this year.
- When
- This year; the remarks were reported on October 23, 2026.
- Where
- At the GO GLOBAL Türkiye Summit in Turkey.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Turkey-US bilateral trade reached $38.5 billion, an increase of 13%.
Bolat said bilateral trade is expected to exceed $42 billion.
Bolat made the remarks at the GO GLOBAL Türkiye Summit.
- This year's trade forecast
- More than $42 billion
- Last year's bilateral trade
- $38.5 billion, up 13%
- US direct investment in Turkey
- $16.5 billion
- Turkish direct investment in the US
- $14.5 billion
- Bilateral trade target
- $100 billion
1 source
What people are saying
This year, we will definitely exceed the $42 billion level.
Our target for foreign trade volume between the two countries is $100 billion.
Last year, our bilateral trade volume reached $38.5 billion, up 13%.