April 5, 2000

BYRD LAUNCHES NEW WEST VIRGINIA TRADE EFFORT

WASHINGTON, D.C.... U.S. Senator Robert C. Byrd, D-W.Va., recently kicked off a new trade initiative between West Virginia and the other Appalachian states, and the Republic of Turkey.

"The economic landscape in West Virginia and our Appalachian region is dramatically changing, and with it, the prospect for increased growth and prosperity.  Likewise, the Republic of Turkey is fostering a fast-growing economy that strengthens regional stability and lays a foundation for a solid market economy," Byrd explained.

Byrd has had a long positive relationship with the Republic of Turkey.  Recognizing Turkey as a key member of NATO's Southern Flank, a moderate secular nation in a region subject to ethnic and religious tumult, and a supporter of U.S. operations against Iraq, Byrd has defended Turkey against political attack in Congress. 

"The U.S. Department of Commerce has designated Turkey as one of ten 'Big Emerging Markets.'  It is my hope that this trade project will take advantage of that potential, leading to a strong economic relationship between West Virginia and the Republic of Turkey," Byrd said.

According to a preliminary analysis by the Commerce Department and the Overseas Private Investment Corporation (OPIC), West Virginia's best export opportunities are coal, building products, auto parts, and high-technology and information systems.  Other West Virginia sectors that might benefit from an export relationship to Turkey include general industrial equipment, mining machinery, specialty metal products, and industrial chemicals.

"In energy projects alone, an area in which West Virginia is a both a leader of fossil fuel production and in research and development, the Commerce Department projects that Turkey will need an investment of at least $3 billion over the next 10 to 15 years to meet the country's energy needs.  The opportunity for investment, particularly from West Virginia companies, is great," Byrd said.

"The Appalachian-Turkish Trade Project offers a unique opportunity to expand trade, advocate for Appalachian business interests, and build a lasting and mutually beneficial relationship between the Appalachian states and Turkey," Byrd said.

The Department of Commerce, the Appalachian Regional Commission, and the West Virginia Development Office plan to hold a seminar in West Virginia to highlight the Turkish trade opportunities.  In addition, the state Development Office is examining the possibility of a trade mission to Turkey in the year 2001.

The trade project's kick-off event coincided with the Annual Conference of the American-Turkish Council held in Washington, D.C.  The council's annual conference is highly respected and well attended by both Turkish government officials and leaders in the Turkish private sector.  In addition to the Turkish trade ministers, U.S. Members of Congress, and U.S. federal agency officials, several West Virginia business executives attended the kick-off ceremony.

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You can also get more information on this kick-off event from the Overseas Private Investment Corporation Internet site.

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