Türkiye’s Treasury and Finance Minister Mehmet Simsek has said that the country’s economy remained resilient despite challenging global conditions and conflicts in the region.
He was speaking at a meeting in New York organised in cooperation with Citi as part of a three-day conference, organised by the Foreign Economic Relations Board (DEIK) and its Türkiye-US Business Council (TAIK).
The conference began on Monday and is running from September 21-23.
The opening day brought US direct investors together with Simsek, Central Bank Governor Fatih Karahan and Industry and Technology Minister Mehmet Fatih Kacir for discussions on Türkiye’s economic outlook, investment opportunities, industrial development and high technology.
“Solid foundations support our economy’s resilience against shocks,” Simsek said at the meeting, pointing to relatively high fixed capital investment, recent productivity gains, low overall indebtedness, fiscal space, reduced external vulnerabilities, rising international reserves and the continued exit from the foreign exchange-protected deposit scheme.
He said Türkiye offered investors opportunities through its large domestic market, strategic location, manufacturing and services sectors, infrastructure and skilled workforce.
Simsek also highlighted opportunities in defence, tourism, health tourism and digital services, including television series and mobile games.
He said Türkiye was accelerating its green and digital transformation, industrial transformation and productive infrastructure investments, while new tax incentives were strengthening the investment and export environment.
Karahan also provided assessments of monetary policy and the macroeconomic outlook at the meeting, while the participants discussed the government's three-year roadmap under the Medium-Term Programme announced earlier this month.
The discussions also focused on price stability, fiscal discipline, medium- and long-term growth prospects and Türkiye’s efforts to improve productivity and competitiveness.
Türkiye’s manufacturing infrastructure, transport and logistics links and access to regional markets were also highlighted, alongside investment opportunities in advanced manufacturing, defence and aerospace, healthcare, logistics, transport and digital technologies.
Türkiye seeks US cooperation in high technology
A separate roundtable organised with Concordia focused on industrial and high-technology cooperation between Türkiye and the US.
Kacir told US companies that Türkiye was building the industrial capacity, energy infrastructure, digital networks and physical connectivity needed for future technologies.
“Türkiye connects production with markets, technology with industry and Asia with Europe,” Kacir said.
“We invite American companies to produce, innovate and grow together with us in Türkiye.”
The meeting examined Türkiye’s potential to become a global hub for high-technology production and innovation, with discussions covering semiconductors, mobility, green energy, advanced manufacturing, healthcare, digital technologies, communications and space.
Participants also discussed opportunities for complementary investments across different parts of global value chains and were briefed on Türkiye’s HIT30 Investment Incentive Programme.
DEIK Chairman Nail Olpak said there were significant opportunities for joint work in industry and technology, particularly by combining Türkiye’s industrial capabilities with US strengths in artificial intelligence, semiconductors and software.
He said predictability remained one of the business community’s key expectations amid growing uncertainty in the global economy.
Murat Ozyegin, chairman of DEIK’s Türkiye-US Business Council, said maintaining the direction of Türkiye’s disinflation programme remained important despite increasingly difficult geopolitical and economic conditions.
He said attracting long-term foreign direct investment that brings technology transfer and skilled employment was among the business community’s priorities for the coming period.
Business leaders gather at New York Public Library
The conference’s first day ended with an evening reception at the historic New York Public Library, bringing together Trade Minister Omer Bolat, Kacir, Karahan, and senior representatives from the Turkish and US business communities.
The reception, organised by TAIK in cooperation with the American Turkish Business Roundtable, provided a platform for networking and discussions on investment and business opportunities between the two countries.
The conference is sponsored by Borusan Holding, Calık Holding, Fiba Holding, Kibar Holding, Koc Holding, Limak Holding, Sabancı Holding, Sahibinden, Turkish Airlines and Türk Telekom.
