AA News

Istanbul hosts US Trade Winds event for 2nd time

The largest US government-led trade mission and business development forum, Trade Winds, was held in the Turkish metropolitan Istanbul for the second time.

Istanbul, which earlier hosted the event in 2008, was chosen for the second time by the US Commercial Service, thanks to its advantageous geographical position between Asia and Europe.

The three-day event, starting on Monday, was organized this year under the main theme of “The Power of AI in Fostering Inclusivity and Innovation.”

Heather Byrnes, US counselor for commercial affairs, previously said the US firms attach importance to the event and the host country is selected as a market that offers great opportunities.

The selection of Istanbul is perceived as a sign that draws attention to the opportunities offered by Türkiye, she expressed.

Etienne LeBailly, US economy counselor, also previously said Türkiye’s advantageous geographical position and its high-quality industry make it attractive for US firms.

Hosting Trade Winds is a highly competitive process, and it is no coincidence that Türkiye and Istanbul were chosen, it is an ideal market for US companies, he added.

AI affects business

Canan Ozsoy, vice chair of the American Chamber of Commerce (AmCham) Türkiye, said at the event that the long-term and strategic value that US businesses create for Türkiye is indisputable.

“Therefore, we will continue to focus on further steps to build on these successful results and support bilateral economic cooperation,” she stressed.

She recalled that the US is Türkiye’s second-biggest export and fifth-biggest import market.

Marisa Lago, counselor under the US secretary of commerce for international trade, said over the past few years, remarkable progress was seen in the collective pursuit of gender parity, both in Türkiye and in the US.

Touching on the artificial intelligence (AI) issue, Lago said it is already affecting how people do business.

She added: “If we can leverage AI to mitigate bias in hiring, promote diverse leadership, and foster a culture of inclusivity, we can unlock the full potential of our workforce and drive innovation on a global scale.”