MÜSİAD New York Türkiye-USA Business Forum Networking Program Opening Speech

20 May 2024

Esteemed MÜSİAD Family,

Distinguished representatives of the Turkish and American business world

Esteemed ladies and gentlemen,

I respectfully greet you all…

Welcome to our Türkiye-America business forum networking program, which we are holding under the hospitality of MÜSİAD New York; you have honoured us with your presence…

Esteemed Members of the Business World,

Imagine a civil society organization that is known for representing 60 thousand enterprises with more than 14 thousand members at home and abroad, and for providing employment to approximately 2 million people. It serves in 81 countries with 85 contact points at home and up to 100 contact points abroad.

The name of this “civil society organization”, which has worked ceaselessly on the principle of “High Morality, High Technology” since its very first day and which carries out intensive “trade diplomacy” activities in the national and international arena, is MÜSİAD.

MÜSİAD is the guide and the pole star of the business world.

From 1990 to the present day, MÜSİAD has built a very strong and effective organizational structure through the branches and representative offices it has opened both in our country and abroad. It has always been a pioneer and a decisive force in organization. MÜSİAD is the place where the concept of brotherhood comes to life within the business world. MÜSİAD, which has taken the concepts of justice, morality and lawful earnings as its measure, does not allow the rights of the oppressed and the orphan to be usurped anywhere in the world, and while pursuing lawful sustenance it never becomes involved in lies, unjust gain or injustice.

Whether at home or abroad, if you are doing business with any MÜSİAD member, you should know that the reference is strong. A MÜSİAD member is honest and does his work properly. This is our organizational mission.

Esteemed Business People,

Throughout the historical process, the USA has been a country with which we have formed very important economic and commercial partnerships. The trade between the two countries, which had mostly continued in favour of the USA, turned in favour of our country particularly as of 2021, and in 2022 an increase in favour of our country was recorded. However, by 2023 it once again resulted in favour of the USA.

In 2023, Türkiye's exports to the USA, which recorded a decrease of %12.2 compared with the previous year, stood at USD 14.8 billion. In the same period, Türkiye's imports from the USA recorded an increase of %3.6 and amounted to USD 15.8 billion. Thus, while a trade deficit of USD 951.7 million against Türkiye occurred in 2023, the trade volume between Türkiye and the USA also fell to the level of USD 30.6 billion (from the record level of USD 32.1 billion in the previous year).

When we look at the January-March period of 2024, Türkiye's exports to the USA rose to USD 3.8 billion, recording an increase of %6.1 compared with the same period of the previous year, while in the same period Türkiye's imports from the USA recorded an increase of %12.5 and stood at approximately USD 4.2 billion.

Between 2002 and 2023, the total amount of foreign direct investment made from the USA to Türkiye stands at USD 14.7 billion. In the same period, the amount of direct investment made from Türkiye to the USA stands at approximately USD 11 billion.

God willing, in the coming periods we aim to raise this level through our trade diplomacy activities and to bring it to a level that will be in favour of our country.

For this, we will work hard and strive hard.

Distinguished Guests,

As MÜSİAD, for 34 years we have believed that it is very important to develop together and to walk the same path with business people with whom we share common values. Cooperation is very important for us. Trade diplomacy, to which we as MÜSİAD attach great importance, is extremely vital.

I believe that establishing new and constructive business relations and signing off on strong joint efforts, while at the same time developing commercial relations with business circles, will open many auspicious doors in the coming periods.

As long as our intention is sincere, an auspicious door will always open before us, God willing…

Distinguished Guests,

Despite many ordeals and disasters, Türkiye continues to be a safe harbour in its region as a country that stands on its own feet, that has achieved political and economic stability and that grows continuously.

The steps taken over the last twenty-two years are now bearing fruit, and today our country is making enormous moves from the defence industry to energy and from health to tourism.

With its qualified human resources, flexible production capacity, strategic location and strong logistics infrastructure, Türkiye is on the eve of a period of great leap forward.

When all these conditions are taken into account, Türkiye and MÜSİAD Members are coming to an important position for the American market. We are here to do fruitful business together and to open the doors to new collaborations.

I greet you all with my most sincere feelings…

May God protect you.

Mahmut Asmalı

President of MÜSİAD