ATLANTA - Turkey will continue to export goods to the United States free of tax duties, a Turkish minister said on Tuesday.
Turkey`s State Minister Kursad Tuzmen said that the U.S. Congress had decided to extend generalized system of preferences for one more year.
Tuzmen defined this decision as a very pleasing development for Turkish exports to the United States.
State Minister Tuzmen is actually in Atlanta to hold talks with U.S. authorities and meet Turkish businessmen.
"Maintaining the generalized system of preferences is important for Turkish exporters in today`s circumstances when our exports to America are dropping," Tuzmen said.
The U.S. generalized system of preferences is a program designed to promote economic growth in developing countries, provides preferential duty-free entry for more than 4,000 products from developing countries to the United States. The program is renewed every year.
This year`s renewed generalized system of preferences will take effect after U.S. President George W. Bush approves it.
1.5 billion USD of Turkish exports to the United States is within the framework of this system. Several goods within this system are marble, jewelry, some food products and ceramics.
Talking about Turkish exports, Tuzmen`s said that Turkish exports would climb to at least 500 billion USD in 2023, when Turkey would celebrate the 100th anniversary of the foundation of the Republic.
Tuzmen said Turkey`s trade volume with the United States reached 12 billion USD, and showed Georgia, New York, Illinois, Florida, California and Texas as new targets to raise this figure.
"It is very important for Turkey to increase its trade with its ally, United States. There were some economic and political ups and downs in our relations, but our future goals are the same," Tuzmen said.
(BRC-MS)
(ECO)