[Congressional Record Volume 154, Number 6 (Wednesday, January 16, 2008)]
[House]
[Pages H275-H276]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
STRATEGIC IMPORTANCE OF THE NATION OF TURKEY
(Ms. FOXX asked and was given permission to address the House for 1
minute and to revise and extend her remarks.)
Ms. FOXX. Mr. Speaker, as the global war on terror continues, it is
more important than ever that our Nation secures strategic partners in
fighting the scourge of radical Islamic terrorism. The nation of Turkey
is just such an ally. It has proven to be a committed ally in the fight
for freedom and democracy. Turkey has worked side by side with the
United States to make strides in our struggle against the forces of
terror.
Turkey is also a nation that is in the midst of a tremendous
political and economic transformation. Its economy has seen almost
unprecedented economic growth in recent years, and is a shining example
of the power of the market to spur investment, raise living standards
and promote stability.
During Turkish President Abdullah Gul's visit to Washington this
month, I had the privilege to meet with him and hear his speech to the
American Turkish Council about the economic and democratic promise his
nation holds. He told the story of Turkey's remarkable growth and
reforms over the past few years. Turkey's successes are a story of the
power of freedom, democracy and economic growth.
Turkey is an important ally that will play a strategic role in the
future peace and prosperity of a volatile region. It is more important
than ever that we hear the voices of Turkish leaders and understand
their visions for Turkey's future.
Speech Delivered by H.E. Abdullah Gul, President of the Republic of
Turkey, on January 9, 2008
Distinguished guests, ladies and gentlemen, it is a
pleasure for me to address such a distinguished audience.
At the outset, I would like to thank American-Turkish
Council for providing me with such an opportunity.
I would also like to thank the Council and its members for
their invaluable contributions for advancing the economic and
commercial ties between Turkey and the United States. I
expect ATC to continue its efforts in this regard.
Turkey and the United States have been enjoying a robust
partnership of a strategic nature. This solidarity is
important not only for our two nations. It is also important
for preserving peace, security and stability in a wide
geography.
Yesterday, in the White House, President Bush and I have
confirmed our commitment to consolidate this valuable
relationship.
Ladies and gentlemen, since the end of the Cold War,
Turkish-American relations have been undergoing a
transformation in line with changing global dynamics. Within
this context, it is crucial that our trade and economic
relations should be elevated to the level of our political
and military ties.
Although our trade volume increased from $6.3 billion to
$11 billion in 2006, these figures are still far from
reflecting the potential of our two countries. Already
numerous business relations exist between our two nations.
But there is a vast and still growing opportunity for so many
more.
As members of the business and investment community, your
contributions to this goal will be invaluable.
Today, I will briefly dwell on Turkey's European Union bid,
recent economic transformation, the near-term outlook for the
Turkish economy and Turkey's main focus areas for the coming
years.
I would like to start with Turkey's relations with the
European Union. Turkey's accession process is critically
important for us.
We are fully committed to doing all that takes to become an
EU member because we believe the steps required are in
themselves beneficial to Turkey.
Turkey's reform efforts are poised to regain momentum. The
Program for Alignment with the European Acquis'' envisages
the completion of our harmonization process by 2013. We
appreciate the continued strong support of the U.S.
Administrations for our E.U. bid.
Thanks to economic and political reforms of the past few
years, the Turkish economy has experienced its fastest
sustained growth in more than 80 years.
Despite the recent slowdown, the medium outlook for growth
remains strong. Turkey is already the 6th largest economy in
Europe and 17th in the world. Our GDP was about half a
trillion U.S. Dollars in 2007.
The target is to make Turkey the world's 11th largest
economy by the year 2023. Foreign direct investments have
averaged to a mere one billion US dollars per year during the
1980-2002 period. This figure has jumped to 10 billion in
2005, 20 billion in 2006, and around 20 billion US dollars
last year.
The United States ranks fourth among the countries that
invest in Turkey. In 2006, American companies invested
approximately five billion Dollars in Turkey. An increase in
this figure in the coming years will allow American companies
to make use of Turkey's potential.
[[Page H276]]
The boom in FDI inflows is no accident. It reflects the
improvement in Turkey's business climate and its growth
potential. In World Bank's ``Doing Business Survey'', Turkey
has jumped from 91st to 57th place. Turkey's main focus areas
over the coming years will be:
(1) implementing the social security reform and introducing
a universal health insurance scheme,
(2) streamlining and liberalizing the energy sector, while
ensuring supply security,
(3) accelerating privatization with key companies on the
agenda,
(4) enhancing the labor market and mitigating the financial
and non-financial costs on registered employment,
(5) fighting effectively against the informality,
(6) improving the intermediation role of the financial
sector.
I believe, undertaking these reforms will pave the way for
a more competitive and more efficient business environment in
Turkey. I would also like to remind you that the economic and
political reform process in Turkey have gone hand in hand. I
am confident that they will proceed hand in hand.
Ladies and gentlemen, a few years ago, we only had a road
map. Today, we have results.
Turkey has made significant progress in achieving economic
and financial stability over the past few years. We are
committed to preserving the gains and building on the
success. Turkey is a land of opportunities and we are open
for business.
I firmly believe that Turkey provides ample opportunities
to reach out to Eurasia and the Middle East. Both Turkish and
American private sector entities should consider joint
investment and business opportunities that they can
successfully embark upon in different regions.
Turkey's close historic, cultural and social ties with the
Balkans, South Caucasus and the Central Asia could provide
comparative advantages to these joint ventures.
Cooperation on energy will bring a new strategic dimension
to our bilateral relations. Such cooperation will also help
in further deepening of Turkish-American relations.
To the extent American companies invest in technology in
Turkey, their contributions for peace and stability in the
region will grow.
Turkey has a flourishing economy. As Turkish economy grows,
the opportunities it presents grow as well. I trust that
businessmen such as yourselves will seize these
opportunities, thereby enabling our economic and trade
relations to develop further and for our bilateral ties to
become even closer.
Thank you.
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