Officials underscored on Thursday the determination of Türkiye and the United States to enhance and deepen their economic ties, highlighting the significance of dialogue between the two NATO partners despite disagreements on a range of issues.

"In the economic field, the governments of both countries are determined to revitalize and further develop relations," Trade Minister Ömer Bolat said.

Bolat's remarks came on the sidelines of the 39th American-Turkish Conference in Washington, seen as a premier venue for U.S. and Turkish business leaders to engage in commercial diplomacy.

Pointing out that Türkiye and the U.S. have been allies for more than 70 years, Bolat said that although there are some tensions in the political and economic fields from time to time, there has been a consistent increase in trade volume.

Relations between the two NATO allies boast a long history of military and economic cooperation, but their strategic partnership has seen many diplomatic ups and downs over the recent years over multiple challenges and disagreements.

Ties somewhat thawed in recent months, particularly after Ankara ratified Sweden’s NATO membership bid earlier this year. But tensions persist over Syria, Russia and the war in Gaza.

Bolat added that the U.S. has more than $2 trillion (TL 64.45 trillion) in imports and noted that Türkiye's exports to the country stood at around $14 billion.

Marisa Lago, the under-secretary of commerce for international trade at the U.S. Department of Commerce, highlighted the breadth of commercial relations between Türkiye and the United States, ranging from textiles, aviation equipment and clean energy to digital technologies.

"Looking ahead, we are quite optimistic about opportunities for expanding our partnership," Lago said.

'Ambitious' trade target

The two states aim for $100 billion in bilateral trade, a target endorsed by President Recep Tayyip Erdoğan and his American counterpart Joe Biden.

Bolat repeated that Ankara is "committed" to achieving that volume.

"Even though we have observed a considerable volume of trade and investment in the last couple of years, we still have a long path to reach our target of a $100 billion trade volume," he said.

"Türkiye is fully committed to realizing this target, and we are ready to engage in joint works to further our trade relations."

Bolat said he had a "constructive and fruitful meeting" with U.S. Secretary of Commerce Gina Raimondo.

"Turkish-American relations will speed up and will be fostered in the near future, in all levels, from investment to trade, from services to industry, from financial cooperation to green economy cooperation. On all levels, we are ready to talk, we are ready to move ahead," he added.

The minister said more than 120 managers from large- and medium-sized companies in the U.S. will be in Istanbul next week at the Trade Winds event to hold meetings with their counterparts from the business world for three days.

Bolat said to reach the "ambitious" trade target, Türkiye and the U.S. need to further the dialogue between the countries and business communities at all levels, "especially in a world where we face uncertainties more than ever."

"We need to make best use of all communication channels, and work more closely through available platforms," he said.

Focusing on convergences

Sedat Önal, Türkiye's ambassador to Washington, echoed that view, stressing that the two countries do not have the "luxury" of putting emphasis on disagreements while stressing the need to focus on points of convergence.

Önal described Türkiye and the U.S. as "two staunch NATO allies," adding that the friendship and solidarity between the two countries have "stood the test of time."

The disputes include the U.S.’ cooperation with the PKK terrorist organization's Syrian wing, the YPG, its stance toward the Gülenist Terror Group (FETÖ), disagreements over Ankara’s purchase of Russia’s S-400 air defense system and Washington’s sanctions against Türkiye.

Önal said Türkiye is surrounded by almost all "crisis flashpoints" around the world, noting the wars in Ukraine and Gaza as well as other conflicts in the region including in Syria, Iraq, Libya and the South Caucasus.

"This is the environment in which we need to operate in coordination and cooperation with stakeholders like America to serve peace, security and stability in the region and beyond the region," he said.

"In such an environment, we do not have the luxury of emphasizing our disagreements, we need to increase our convergences," he added.

"This is something that we are going to do in my tenure here, to try to increase points of convergence to address issues that are of common concern to us, but also very important for regional peace and security."

Önal said that one important strong dimension of the Turkish-U.S. relationship is economic and commercial relations.

In his address at the conference, Burak Akçapar, Türkiye's deputy foreign minister, stressed the enduring nature of communication between Türkiye and the U.S., saying the two allies have been in constant talks.

While noting that the two NATO allies have always been cooperating and consulting with each other, Akçapar said they also have issues that they disagree on.

"But communications on all these channels have never gone away," he added.

"We are the two largest armed forces in NATO," he said when explaining the nature of relations between Türkiye and the U.S.

U.S. Acting Under Secretary for Political Affairs John Bass said Türkiye and the U.S. are on the "cusp of a new phase" in their relationship, adding that it starts with a return to "fundamentals," including "collective defense."

Bass said the two countries are also in discussions to explore new opportunities in areas, including trade, the economy and the climate.

He said the two NATO allies can also work together to address regional challenges and praised Türkiye's "important role" in the first two years of the Russian war in Ukraine.

"Türkiye will have a very important role to play as we work to bring this conflict to a close," Bass said.

'New chapter'

Nail Olpak, the head of the Foreign Economic Relations Board (DEIK), said the 39th edition of the conference in Washington is a testament to the enduring partnership between Türkiye and the U.S. in fostering economic cooperation.

Olpak said it is evident that the bond between Türkiye and the U.S. extends more than trade and investment.

"Our collaboration runs deep, encompassing financial cooperation and strategic alliances," he added.

Khush Choksy, senior vice president for the Middle East, Central Asia and Türkiye at the U.S. Chamber of Commerce, said the conference would start a new chapter in trade and commerce relations between the two states.

Murat Özyeğin, chairperson of Türkiye-U.S. Business Council (TAIK), for his part, said one of the "most definitive aspects" of the nearly 200-year friendship between Türkiye and the U.S. has been the ability to compartmentalize political and economic relations.

"I believe the 39th American-Turkish Conference will mark a promising new chapter in our strategic business partnership," he said.