"TİM Export Talks" Online Panels Continue

Turkchem 30 Apr 2020 38 2 dk okuma

TURKCHEM

Turkish Exporters Assembly (TİM), amid the Covid-19 process, continues to activate action plans to address the effects of contracting international trade, compensate for export losses, and gain a stronger position in the new global order that will emerge after the crisis.

Within this framework, the third in the series of "TİM Export Talks" online panels hosted by ambassadors was held live on TİM's social media accounts under the title "What opportunities await exporters in the US after Covid-19?", with the participation of TİM Chairman İsmail Gülle and Turkish Ambassador to the United States Serdar Kılıç. The panel discussed measures taken in the US during the Covid-19 process, the state of the US economy after the pandemic, developments in bilateral trade between the two countries, and opportunities for the coming period.

TİM Chairman İsmail Gülle: "We must preserve the momentum we created through mask aid to the US. In this way, I believe we will take positive steps toward our goal of USD 100 billion in bilateral trade with the US. We need to increase our share of US imports to 1 percent. After the virus, we can even reach USD 200 billion in our USD 100 billion trade target through the efforts of our exporters," he said.

İsmail Gülle continued: "Our bilateral trade, which was USD 16.1 billion in 2010, reached USD 19.1 billion in 2019. Our exports to the US during the same period increased from USD 3.8 billion to USD 8 billion, showing a 115 percent increase in a relatively short time. Over the past 10 years, alongside the increase in our exports to the US, with the effect of the decrease in our foreign trade deficit, the rate of increase in bilateral trade was 18.4 percent. However, Turkey's share in US imports has reached 0.5 percent levels. Of course, while this rate is not an acceptable figure in trade between two countries ranking among the first 20 economies, the distance covered by Turkey and the US, with their deep trade history, in a relatively short time is quite significant and important. Within the framework of our analyses, we found that although our country has high competitiveness in many products in the automotive, chemical substances, electrical-electronics, fresh fruits and vegetables and cereals sectors, we have not gained sufficient market share in the US market. To increase our market share in the US, as Turkey we first need to gain ground in the top 50 products that hold the most important place in US imports," he said. Turkish Ambassador to the United States Serdar Kılıç: "We will ensure the continuation of this momentum. During this period, we are taking all steps to support the Made in Turkey perception. Turkish associations are also distributing masks to the public. If Turkey sends 100 thousand more masks after this, I will deliver them with my own hands and take the US press there. We need to make a structural change in our perspective on the US. There is not one US there. Each state in the US needs to be evaluated separately. Exporters perhaps need an office on the West Coast. In terms of US domestic supply, our exporter should establish their own structure, have warehouses in several locations. Now is the best time to buy a company in the US. Very serious work is needed for Turkey to take on China's role in the supply chain. It is believed that the US will make China pay a price because of the coronavirus. This could create an opportunity for us or for others. The best opportunity in the recovery after the virus will be the US. For this reason, we need to develop a strategy by looking at what the US is making China do, what it is buying from China, what we can do, and what incentives can be provided for this," he said.