Turkish President Recep Tayyip Erdogan is set to meet top U.S. business leaders in New York later this month, aiming to restore relations with international financiers and attract foreign investment back to Türkiye.
Details of meeting
The meeting will take place during Erdogan‘s visit to the U.S. for the 79th United Nations General Assembly, which begins on Sept. 22. It aims to stabilize Türkiye’s economy and attract investors following the impact of previous policies.
The meetings, organized by the Türkiye-U.S. Business Council (TAIK), will feature Erdogan, senior Turkish officials, and executives from major U.S. companies, including Wall Street banks JPMorgan and Goldman Sachs.
According to sources familiar with the issue, Erdogan will participate in at least four high-profile events during the week of the U.N. summit.
Turkish economic overhaul targets Inflation, rebuilding investor confidence
This effort to woo investors comes 15 months into a sweeping economic overhaul aimed at addressing Türkiye’s inflation crisis.
The Turkish government is attempting to lure back foreign investors who withdrew during a period of economic instability and a balance-of-payments crisis in 2023. Since then, Treasury and Finance Minister Mehmet Simsek has been working to restore rational economic policies, boosting confidence among foreign investors.
In recent months, the Türkiye’s central bank has increased its main interest rate by over 40 percentage points, bringing it to 50%, in an attempt to cool the overheated economy.
Meetings with US business leaders to strengthen economic ties
On Sept. 23, Erdogan will host a roundtable with executives from 20 Fortune 100 companies, including representatives from JPMorgan and Goldman Sachs.
Goldman Sachs will also hold a Turkish investment conference the following day at its New York headquarters, featuring remarks from Simsek and central bank governor Fatih Karahan. Additionally, Turkish energy and industry ministers will engage with U.S. business leaders at events hosted by TAIK and Citigroup.
Challenges in rebuilding long-term investor confidence
Despite Türkiye’s efforts to stabilize its economy, many mainstream investment firms remain cautious about reentering the Turkish market due to concerns about potential policy reversals and broader issues such as judicial independence and the rule of law. While hedge funds and short-term investors have begun returning to Türkiye, major foreign direct investment projects have been reportedly slow to materialize.
Erdogan’s meetings with U.S. executives are seen as a critical step in overcoming lingering concerns among long-term investors.
Turkish officials are hopeful that the economic reforms and high-level outreach will lead to renewed investor confidence and long-term financial commitments.
