Azernews.Az

By News Center

Turkish Trade Minister Ömer Bolat, commenting on the impact of the U.S. customs duties on Türkiye's foreign trade, said that the situation carries serious uncertainty. Stating that Türkiye aims to navigate this process without suffering damage, Bolat remarked:
“It’s not exactly clear who hit whom. Our first duty is to avoid being hit. Our second duty is to boost our exports by making strategic moves in favor of our country. We are working toward this goal in collaboration with both the public and private sectors,” he said.

Minister Bolat also discussed Türkiye’s preparations for participating in the World EXPO 2025 event, which will be held in Osaka, Japan, at a press conference in Istanbul yesterday. He also addressed questions about customs tariffs. Highlighting the possibility that countries losing access to the U.S. market may shift their focus to markets where Türkiye is active.
“For this reason, we will pursue a multifaceted trade diplomacy strategy,” he stated.

Drawing attention to the fact that Türkiye maintains a balanced bilateral trade relationship with the United States, Bolat added:

“Our trade with the U.S. will continue to grow. The U.S. is Türkiye’s second-largest export market after Germany, with $18 billion in exports.”

Bolat also mentioned that they are closely analyzing the impact of these developments on Türkiye through meetings with companies and Turkish Exporters Assembly (TİM) officials:
“I can say the phones have started ringing. There is demand for orders. TİM officials have reported that inquiries are coming in from the West, asking for pricing and production capacity. To turn this into an advantage, we need to boost our large-scale production capacity. I’d like to make a call to our exporting companies: let’s not act with a short-term ‘just win’ mindset. Let’s combine our strengths so we can fulfill high-value orders when they arrive.”

Emphasizing that Türkiye pursues policies centered on foreign trade, Bolat continued:
“The 10 percent additional customs duty imposed by the U.S. is not a favorable development for us. However, higher tariffs were imposed on some of our competitors. This comparatively places us in a better position. We’ve taken steps to create new opportunities in the U.S. market. These changes may benefit sectors such as steel, textiles, furniture, and automotive. In politics, even 24 minutes—not just 24 hours—can change the equation. So, let us neither panic nor rejoice prematurely.”

When asked whether the Trump administration was exerting pressure on U.S. companies with investments in Türkiye, Bolat responded:
“To date, we have not observed any initiatives from the U.S. administration to pressure American companies investing in Türkiye. U.S. firms have invested $15 billion in Türkiye, while Turkish firms have invested approximately $11 billion in the U.S. We would like to see these mutual investments increase.”

He also reiterated that while opportunities may arise, there are also associated risks, particularly as countries with declining access to the U.S. market might target Türkiye’s export destinations:
“For this reason, we will carry out multifaceted trade diplomacy.” Bolat announced that he will visit the U.S. with representatives from the business sector on May 15–16.

Regarding World EXPO 2025 Osaka, Bolat shared that Türkiye will have a large pavilion covering 900 square meters:
“We have a pavilion there that blends our country’s rich cultural heritage with a modern design approach. We will also celebrate April 23—National Sovereignty and Children’s Day—as Türkiye’s National Day in Osaka.”

He noted that the event will span six months and is expected to attract over 25 million visitors:
“As Türkiye, we will participate in the world’s largest event for trade, promotion, and tourism.”

Bolat added that the main theme of EXPO 2025 Osaka is “Designing the Society of the Future for Our Lives”, and emphasized:
“Expos play a very important role in showcasing Türkiye’s achievements in economy, trade, services, and technology on the global stage.”