US and Turkey to work for FTA
US Vice President Joe Biden said, «Erdogan and Obama agreed to begin efforts for a Free Trade Agreement (FTA) between Turkey and the US.»
Speaking at the round table meeting organized by US Chamber of Commerce with participation of Turkish Prime Minister Recep Tayyip Erdogan, Biden said that he had been an admirer of Erdogan for a long time.
Biden stated that the promise of Turkey, and its significant potential, continued economic growth were reason for every American to take some solace because it was overwhelmingly in the naked self-interest of America.
Reminding that in 2009 a framework for strategic and economic commercial cooperation was established between Turkey and the US, Biden said that the bilateral trade volume was increased by 75 percent.
He further expressed that Turkish steel company was planning a plant in Louisiana, a Turkish-German conglomerate was investing in a US plant to create steel pipes for shale gas, while American GE was working with Turkish company to take locomotive kits manufactured in Pennsylvania.
Stating that areas like energy, education, technology also carried immense potential for cooperation, Biden said, «We are prepared to compete. We want to be engaged. We have companies with unique expertise in unconventional and renewable energy, ready to compete for contracts as Turkey develops its domestic supply of energy. Our tech and pharmaceutical companies are ready to do business and be business partners in a fast-growing sector of the Turkish economy.»
Adapted from Worldbulletin