US congress to consider free trade talks with Turkey

Before adjourning for the year, the US House of Representatives Ways and Means Committee is set to consider a resolution to start negotiations on setting up a bilateral free trade agreement with Turkey. Three congressmen – William Delahunt, Jim Moran and James Sensenbrenner – introduced the resolution on Dec. 1 to discuss setting up the same type of free trade agreement as the US has with Israel and Jordan, under which goods made in Turkey would be able to be sold on the US market without being subject to any duty or tariff barriers. Conversely, US producers would have the same rights in Turkish markets. The deal would give Turkey a new competitive edge, as foreign companies that want to sell their products in the US would rush to invest in Turkey. The resolution asserts that a free trade pact with Turkey is needed for many reasons, such as the number 17 ranking of its economy and its status as a founding member of the Organization for Economic Cooperation and Development (OECD) and a member of the G-20. Citing Turkey's 16 free trade agreements with various countries and the European Free Trade Association (EFTA), the resolution also points to its ongoing talks with Canada, Lebanon, South Africa and Mexico. It says the US has only a 6.09 percent share of Turkey's imports, but that a free trade agreement would boost this figure in favor of the US. According to Turkish news portal Turkavenue, the Turkish Union of Chambers and Commodities Exchanges (TOBB) lobbied heavily for the resolution, along with Turkish businessman Mustafa Merc, the head of the Turkon Line, which has a large share of sea transportation between the US and Turkey.