President Erdoğan addresses American and Turkish business leaders in Turkey Investment Conference, in New York

President Recep Tayyip Erdoğan addressed American and Turkish business leaders during the Türkiye Investment Conference held in New York, as part of his visit to attend the 79th United Nations General Assembly. In his speech, Erdoğan highlighted many important points about development in the country.

In his speech, Erdoğan highlighted Turkey’s significant economic progress in recent years, noting that the number of foreign-capitalized companies in Turkey had reached 83,000. He also emphasized that Turkey was the only country to have its credit rating raised by three different agencies in 2024.

$270 billion in foreign direct investment over the past 20 years

Erdoğan pointed out that Turkey had attracted nearly $270 billion in foreign direct investment over the past 20 years and that its economy was large and held great potential. He stressed the importance of expanding trade relations with the U.S., particularly in sectors like steel and aluminum, where he called for the removal of unilateral tariffs and restrictions that currently hinder trade.

Average Growth of 5.4 percent in 20 Years

He also noted Turkey’s growing prominence in global trade and defense industries, citing an average growth rate of 5.4% over the past 20 years and more than $270 billion invested in infrastructure during the same period. Erdoğan outlined a goal to increase Turkey’s share of the global investment market from 1% to 1.5% by 2028.

Will F-16 project open a new chapter in defense industry cooperation between 2 countries?

In addition, Erdoğan expressed a desire to strengthen energy cooperation, particularly in liquefied natural gas (LNG), where the U.S. has become Turkey’s largest supplier. He said Turkey aimed to formalize this partnership through a long-term agreement. Furthermore, he expressed hope that the F-16 modernization project would open a new chapter in defense industry cooperation between the two countries.

In conclusion, Erdoğan underscored Turkey’s ambition to become a hub for high-tech investments and expressed confidence in the potential for greater cooperation between the U.S. and Turkey in trade and investment.