As the United States is the world’s largest importer, Turkey has set a foreign trade volume target of billion (TL 737.36 billion) for the US and in order to achieve it, foreign logistic centers will be set up, particularly one in the U.S. as well so the local exporters can get easy access to markets to boost sales. Turkish Exporters Assembly (TIM) Chairperson Ismail Gülle said in a statement.
“We have carried out a detailed study for the logistics center we plan to open in the U.S. We have a target of $100 billion in foreign trade volume with the country. We believe that the logistics center to be opened is of great importance for us to achieve this goal quickly,” Gülle said in a press release.
Despite the heaps of canceled orders during the pandemic, Turkey got a head start of 13.5% year-on-year in 2020 when the exports to the US crossed $10.1 billion. Moreover, Last year, Turkey exported to 226 countries and made $17.84 billion in December. This makes Turkey the country of third-most exports according to the data released by the Trade Ministry.
One of the five most important markets for Turkish exporters is the U.S. market, noting that Turkey has significant potential for the U.S. market in 192 out of the 1,000 most-exported products in global trade.
For 2021, it will be significantly easier to reach the $100 billion targets set for bilateral trade between the U.S. and Turkey as all countries are now recovering from the coronavirus and business is getting back to normal. Therefore, the logistics center will help achieve this target for the carpet, furniture, and textile sector.
