Turkish, US firms to come together at major meeting in Istanbul, discuss joint investments

Published 08.07.2019 00:05

Twelve U.S.-based companies operating in the fields of textile, energy, defense, security and finance will come together with Turkish firms in Istanbul. These companies are expected to attend the meeting with 38 top executives, according to a report in the Dünya newspaper.

The American delegation led by the former U.S. Secretary of the Interior Ryan Zinke will discuss the joint investment and cooperation operations with Turkey's leading firms.

The main objective of these gatherings is to encourage the U.S. giants to make joint production with Turkish companies, especially in the field of industry.

Uğur Terzioğlu, the head of the American Turkish Business Development Council (ATBDC), said companies investing in energy, textile technologies, cyber and physical security technologies will be matched with their Turkish peers to develop contractual agreements supporting investment, joint ventures and sectoral growth within the scope of the U.S.-Turkey Business Roundtable CEOs meeting to be held in Istanbul on July 23-24.

Evaluating the U.S. delegation's visit to Turkey, Terzioğlu recalled the target of $75 billion in trade volume between the two countries set by President Recep Tayyip Erdoğan and U.S. President Donald Trump, adding that this figure was raised to $100 billion at the last meeting of the two leaders.

"Upon Trump's instructions, U.S. government officials took action to cooperate with American firms to contribute to the development of the Turkish industry and increase export potential, as was previously done in Belarus, Ukraine and Hungary," he continued. "The mission of the delegation visiting Turkey is to enable a partnership between American and Turkish companies to make joint production in Turkey. This production is also aimed to be exported to the United States, thus contributing to the development of the Turkish industry and meeting the needs of U.S. firms. All of the participants are top-ranking, including top executives of companies, former governors, former ministers, as well as lawyers. Because they are very determined to partner with Turkish companies."

Terzioğlu stated that each of the companies coming to Turkey within the scope of the meeting is a pioneer in its field in the U.S., adding that while 12 American companies were included on the delegation list, this figure might increase in the coming days.

The companies coming to Turkey to discuss investment opportunities include Turnberry Solutions, a lobbying and business development firm based in Washington; BGR Group, a Washington-based lobbying and business development firm; COX Oil, an oil and gas company; 7th Generation, a private American textile and fiber recycling technology company; Tellurian, a private American company operating in the gasification and transportation of liquefied natural gas (LNG); KIG, a private U.S.-based defense and security investment firm; Saltzman & Evinch, a Washington-based law firm operating in the field of international public law, international business affairs and immigration; Artillery One, a private American firm operating in the field of LNG; Artillery One Cybersecurity, a private U.S.-based company operating in the cybersecurity field with the Cyber Security Academy and related business units in Kosovo and Bosnia; Continental Divide International (CDI), a private consulting firm active in solving complex problems, contract negotiations and business development; Anderson Economic Group, a consultancy firm on economic, value, market analysis and public policies; and Mergel Group LLC, an international financial and strategy consulting firm.

The Presidential Investment Office, Treasury and Finance Ministry, Trade Ministry, Industry and Technology Ministry, Transport and Infrastructure Ministry, and the Energy and Natural Resources Ministry will represent Turkey in the meeting on the government side, while the ATBDC, national flag carrier Turkish Airlines (THY), Union of Chambers and Commodity Exchanges of Turkey (TOBB), Turkish Exporters Assembly (TİM), International Investors Association (YASED), Koç Energy Group, Limak Holding, Turan Borfit, Borusan, Botus, Sancak Group, BAU University, Defense Industries Presidency (SSB), Gülermak, EGE, Kuzualti Textile Bursa, and Devrim AKA will attend the meeting on behalf of the Turkish business community.

Elif Rahvancı, an international consultant at the U.S. consultancy company ODC, will also attend the meeting. Rahvancı was also a part of the delegation accompanying Treasury and Finance Minister Berat Albayrak during his earlier visit to the U.S.

"The delegation, which mostly consists of lobbying firms, will represent the largest U.S. companies," she noted. "These companies are clearly interested in Turkey. They come not for short-term hot money investments, but especially for industrial investment. The U.S. companies, each of which is a world giant in its own field, will come together with major Turkish companies taking on the world league."

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