Türkiye to strengthen economic ties with Germany

On his recent visit to Berlin, Türkiye's Trade Minister Omer Bolat actively engaged with German and Turkish business leaders, reinforcing the already robust economic relationship between Türkiye and Germany.

During his meetings, Bolat conveyed a strong message about the bright future awaiting both nations. He stated, "Germany stands at the forefront of our strongest historical, political, and economic partners."

Bolat emphasized the significant role of 3.5 million Turkish citizens in Germany, noting their contribution to the German economy through approximately 500,000 jobs and 100,000 Turkish businesses, generating an annual turnover of $54 billion.

Bolat stressed the importance of this partnership, highlighting, "Germany ranks first in our exports, amounting to $21 billion, and third in imports, totaling $28 billion."

He also emphasized Türkiye's role within the European Union's trade network, saying, "Türkiye is the EU's sixth-largest trading partner, with a balanced trade volume of $211 billion." His ambition to modernize the Customs Union with the EU was clear, seeking Germany's support at the European Council Leaders' Summit.

In his address at the German Middle-Scale Businesses Federation's annual meeting, Bolat highlighted Türkiye's reliable supply chain and production quality, asserting, "We have shown Europe our strengths in production, export, supply chain, and logistics, especially during the COVID-19 period and the Russia-Ukraine conflict."

Recognizing the growing global interest in Türkiye, Bolat revealed, "In the last 20 years, Türkiye has received $262 billion in direct investments." He credited this to the competitive environment fostered by 80,000 foreign firms in Türkiye.

Furthermore, the minister expressed his pleasure in meeting the Turkish community in Germany and acknowledged their significant contributions. He discussed Türkiye's close engagement with Germany regarding EU membership and emphasized the desire to modernize the Customs Union, including the services sector.

Independent Industrialists and Businessmen's Association (MUSIAD) President Mahmut Asmali noted the signing of a memorandum of understanding with the German Middle-Scale Businesses Federation to enhance trade relations and collaborations. He expressed optimism for increased trade through greater dialogue between business leaders.

Despite global economic challenges, Asmali highlighted Türkiye's economic resilience and growth, anticipating further dynamism after the upcoming local elections. He expressed confidence in Türkiye's continued growth focused on production, export, and employment in 2024.

Looking ahead, Bolat envisions a promising future for Türkiye-Germany relations, coinciding with the 100th anniversary of their diplomatic ties in 2024. He extended a warm invitation to the German business community, stating, "We welcome our German business friends to invest in Türkiye. The opportunities and job prospects are immense, and partnerships with Turkish businesses can unlock even greater potential."

With the German President's impending visit to Türkiye, accompanied by key business figures, Bolat's meetings in Berlin mark a pivotal step in deepening the economic collaboration between the two countries.

Source: Newsroom