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The U.S. ambassador to Turkey said companies would consider possible to exit the turkish market, if the country does not fully pay its debts to American pharmaceutical companies, while criticizing a new Turkish law that places restrictions on major social media sites.
In a speech at a business conference broadcast online, or David sutherfield stated that the debt of public hospitals to pharmaceutical companies in the United States and elsewhere has risen to about $ 2.3 billion from about $ 230 million a year ago.
Sutherfield stated that United States Secretary of Commerce Wilbur Ross raised the issue with Turkish President Recep Tayyip Erdogan and Finance Minister Berat Albarak a year ago and received assurances that arrangements for immediate payments would be made.
A year later, these companies were asked to accept significant reductions in amounts owed, Sutherfield said, adding there would be consequences for non-payment of debt or reduced payments.
«Companies will consider leaving the Turkish market or reducing their exposure to the Turkish market. This is not an address that serves the interests of Turkey.“, he said.
Trade between the two countries amounted to around $ 21 billion last year and NATO allies said they intend to increase it to $ 100 billion.
However, there are obstacles, including US tariffs on Turkish steel and the purchase of Russian S-400 anti-missile systems from Ankara Last year that prompted Washington to remove Turkey from a consortium that produced F-35 jets.
At yesterday’s conference hosted by the US-Turkish Business Council, Turkish Trade Minister Rusar Pekcan said that tariffs on steel and Turkey’s removal of a trade preferences program US efforts to achieve the trade goal have been hampered.
«Such US policies severely limit the ability of Turkish companies to enter the US market.“, he said.
Sutherfield also expressed concern about a law passed in July, which according to Erdogan’s ruling party will hold more US social media sites to account due to concerns from the Turkish authorities about their content.
Critics say the law will silence dissidents.
«A policy authorizing large social media companies to store consumer data only in Turkey could create an inherently uneven competitive environment.He said, adding that this could eventually push American companies out of the market.
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