Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 64

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 64
---
 Europe and Türkiye. President Erdoğan and other high-level Turkish officials have made various statements noting
that Türkiye will not shoulder the burden of a new migration wave. However, there is no certainty as to what impact on Türkiye
any such migration might have. In February 2025, Türkiye formally ended the diplomatic missions of envoys appointed by Afghanistan’s
former government, paving the way for the Taliban to appoint their own representatives. Türkiye’s future relationship with
the Taliban is also uncertain given the complex geopolitical circumstances relating to Afghanistan.

In April 2021, U. S. former President Biden referred
to the World War I deaths of Armenians in the Ottoman Empire as genocide, which might negatively contribute to Türkiye’s relationship
with the United States. Meanwhile, former President Trump’s re-election campaign caused diplomatic uncertainty, with his administration
previously imposing sanctions on Türkiye. As 2025 began, tensions with the U. S. grew, particularly over Türkiye’s purchase
of Russian defense systems. U. S. arms exports to Türkiye fell by 10% in 2024, while Türkiye’s military spending grew by
6%. Trump’s re-election added to the political divide, with trade between Türkiye and the U. S. decreasing by 4% due to concerns
over human rights and defense policies. It is uncertain whether the positions that the Trump administration might take with respect to
Türkiye, including relating to any of the aforementioned topics, (including potential additional sanctions), might materially alter
the relationship between Türkiye and the U. S.

In January 2024, Türkiye ratified Sweden’s
NATO membership, strengthening the alliance’s security framework and marking progress in Türkiye’s relations with Western partners.
NATO Secretary-General Mark Rutte has urged the European Union to improve relations with Turkey amid ongoing European security uncertainties,
emphasizing Türkiye’s significant defense capabilities and its crucial role in regional stability.

Türkiye continued to mediate the Russian-Ukraine
conflict, facilitating a grain export deal that saw over 10 million tons of grain transported out of Ukraine. Türkiye has maintained
a complex relationship with Russia, balancing cooperation and competition across various domains. Despite backing Ukraine and facilitating
peace talks, Türkiye’s strong ties with Russia, including energy partnerships, pose challenges in aligning fully with Western policies.

The Syrian Civil War, which began in 2011, effectively
concluded in December 2024 with the oust