The economies of the Republic of Turkey, United States, Canada and Mexico are closely aligned and growth could be significantly increased through enhanced economic, educational, and cultural partnerships. The United States, Canada, and Mexico offer substantial opportunities for Turkey, with parties in all nations calling for closer ties. Mexican Ambassador to Turkey, Jaime Garcia Amaral, highlighted the similarities between Turkey and Mexico’s recent economic growth and young populations, stressing “the $600 million trade volume [between the two states] is far from satisfactory.”
In an address to participants of the 2011 Annual Conference on US-Turkey Relations, Secretary of State Hillary Clinton cited Turkey’s remarkable rise in becoming the world’s 17th largest economy, adding, “The more Turkey grows, the more we can trade, build, and prosper together. And for Americans, eager to drive our own economic recovery, that is vitally important.”
American headquartered corporations such as Dow Chemical, GE and the Ford Motor Company as well as Canadian headquartered companies such as Bombardier and the Four Seasons Hotels and Resorts, have all taken advantage of the growth potential between North America and Turkey. Strengthening relations between Mexico and Turkey in particular have revealed opportunities for increased economic ties in the automotive, tourism and telecommunications industries. For example, Totomak, a Turkish automotive supplier, has already established operations in Mexico. Members of both the Turkish and Mexican foreign ministries continue to express support for the establishment of a Free Trade Agreement between the two states, which has the potential to greatly increase not only bilateral trade between Turkey and Mexico, but also Turkey's access to the markets of other NAFTA members.
For more data on the opportunities in Turkey and North America, please see the TRCNA informational briefs below:
Opportunities_Republic of Turkey_TRCNA.pdf