ANKARA – The United States and Türkiye met today under the U.S.-Türkiye Trade and Investment Framework Agreement (TIFA).
The two sides welcomed the resumption of the TIFA Joint Council Meeting and reaffirmed the importance of working together to strengthen the bilateral economic relationship. Bryant Trick, Assistant U.S. Trade Representative for Europe and the Middle East, and Husnu Dilemre, Director General of International Agreements and EU Affairs at the Turkish Ministry of Trade co-chaired the meeting.
U.S. and Turkish officials discussed and agreed to continue dialogue on the full range of bilateral economic issues including agriculture, customs duties and charges, pharmaceutical market access, intellectual property protection, labor, digital trade and investment policies and promotion initiatives.
Background
The United States and Türkiye signed the Trade and Investment Framework Agreement in September 1999. U.S. goods and services trade with Türkiye totaled an estimated $42.0 billion in 2022. U.S. exports to Türkiye were $19.4 billion and U.S. imports from Türkiye were $22.5 billion. Türkiye is the United States’ 29th largest goods trading partner. U.S. foreign direct investment (FDI) in Türkiye (stock) was $5.8 billion in 2022, and Türkiye’s FDI in the United States (stock) was $2.6 billion.
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