Commerce Secretary Raises Worry About Status For US Businesses In Turkey - Statement

US Commerce Secretary Gina Raimondo met with Turkish Trade Minister Mehmet Mus to reaffirm the commitment to deepen US-Turkey relations and increase bilateral trade, but expressed concern about operating conditions for US businesses amid soaring inflation in Turkey, the Commerce Department said on Friday

WASHINGTON (UrduPoint News / Sputnik - 07th January, 2022) US Commerce Secretary Gina Raimondo met with Turkish Trade Minister Mehmet Mus to reaffirm the commitment to deepen US-Turkey relations and increase bilateral trade, but expressed concern about operating conditions for US businesses amid soaring inflation in Turkey, the Commerce Department said on Friday.

"During the meeting, Secretary Raimondo raised concerns about recent actions of the Turkish government that have undermined the security and predictability of the business environment for�US companies and foreign investors," the Commerce Department said in a statement.

Inflation in Turkey has hit 19-year highs and the Lira has lost more than 20% of its value over the past week after a series of interest rate cuts.

Raimondo and Mus also discussed recent examples of successful bilateral cooperation in the energy and digital sectors and agreed for the cooperation in these sectors to continue, the statement said.

The two officials pledged to overcome challenges and identify new opportunities for advancing mutual clean energy and digital economy goals for the middle East region, the statement added.