We welcome the positive reaction of financial markets, including the decline in interest rates in December. We hope the government continues to pursue economic reform with realism and resolve. Resolve is vital because the economic reform path will require hard choices, vigorous leadership, and commitment. International cooperation can be as important in economic policy as it is in the security arena. In this regard, should Turkey's government decide that its economic reform objectives could be advanced through closer cooperation with international financial Institutions, the United States would lend its full support.
Turkey has many important new commercial opportunities.
The United States, for example, has seen its imports grow by 56 percent since 1989. We are the largest importing nation in the world. I believe the American-Turkish Council can play a crucial role in helping Turkey develop a larger presence in the U.S. market. Your leadership is vital in developing business relationships. The Council can also play a role in advising our two governments on private sector priorities as we seek to remove barriers to trade, reduce costs to business and, over time, harmonize standards.