German-Turkish forum highlights opportunities to strengthen trade

Business leaders and officials from Germany and Trkiye gathered for a major economic summit on Saturday, hailing the vitality of trade relations and paving the way for increasing the volume of trade in goods to $60 billion.

Trkiyes' bilateral trade relations with Germany have achieved great success, said Turkish Ambassador to Germany Ahmet Baar at the 8th German-Turkish Economic Day organized in Düsseldorf by the Association of Entrepreneurs and Industrialists Turks in Europe (ATIAD).

“We are proud of the economic vitality made possible by the Turkish people in Germany since the 1960s, with the businesses they created with significant capital, as well as by our young and experienced people who created their lives in working in many sectors of the economy Europe and Germany, noted in.

He recalled that President Recep Tayyip Erdoan visited Germany in November and his German counterpart Frank-Walter Steinmeier visited Trkiye at the end of April.

“These visits have revitalized and elevated our political relations, as the presidents have clearly expressed their intention to further develop economic relations and political cooperation between the two countries,” he said.

“We are working and will continue to work with all our strength to achieve the target of $60 billion for bilateral trade, as requested by President Erdoan,” he added.

He noted that the volume of trade between Trkiye and Germany exceeded $50 billion by the end of 2023, thanks to the efforts of businessmen believing in free enterprise, and that this success greatly contributed to the prosperity and economic growth of both countries.

“A great success in commercial relations”

The ambassador also highlighted the successes achieved in bilateral trade relations.

“The state of North Rhine-Westphalia is the largest in Germany in terms of economic size, with 22,000 international companies operating in the region.”

“It is also one of the regions with the highest German-Turkish cooperation. The volume of foreign trade between Trkiye and North Rhine-Westphalia reached $11.34 billion in 2023 alone,” did he declare.

He added that “850 Turkish companies have invested in the region and the highest number of companies created in 2022, calculated at 91, was Turkish, ahead of the number of American and Chinese companies.

He stressed that the private sector must come together to institutionalize its unity, and that it is essential that companies and businessmen jointly operate and create common projects in the fields of technology and education.

Visa liberalization

He also said that updating the EU-Trkiye customs union and removing restrictions by ensuring visa liberalization for Turkish citizens and free movement of goods would greatly benefit Turkish and German businessmen.

“Turkey's full membership in the EU and participation in the single market is the ultimate goal,” he said.

“The business communities of both countries should join efforts to modernize the EU customs union and make efforts for Turkey to participate in the single market as an EU member, because this is not “only then can we create growth opportunities for German and Turkish entrepreneurs,” he said. added.

As for German officials, Anadolu Agency (AA) reported that Minister President of the state of North Rhine-Westphalia Hendrik Wust said that Turkish workers in the state are moving Germany forward while welcoming the role of ATIAD.

He stressed that the sacrifice of Turks who emigrated to Germany in the 1960s contributed to Germany's prosperity, with one million people of Turkish origin now living in North Rhine-Westphalia, half of whom are ethnic German citizens.

Wust stressed that there are significant opportunities in artificial intelligence and renewable energy, now that the American technology company Microsoft has invested in North Rhine-Westphalia and the state is a hot spot for foreign investors in Germany.

He attributed Germany's prosperity to international trade, saying Trkiye ranks among the top five in this area.

Wust added that ATIAD helps bring Turkish and German workers and businessmen closer together, emphasizing that the collaboration is a win-win situation for North Rhine-Westphalia and Trkiye.

Finance Minister Christian Lindner, meanwhile, said he felt welcomed and treated with great hospitality in Trkiye when he accompanied Steinmeier on an April 22-24 visit.

Lindner mentioned that he spoke with his Turkish counterpart Mehmet Imek during his visit, wishing him success in the anti-inflation structural reforms proposed by Trkiye.

Citing the success of German-Turkish vaccine maker BioNTech, Lindner pointed out that Turks have had many successes in Germany.

He pointed out that the number of foreign investors in Germany has been declining for six consecutive years, demonstrating the need for change.

He added that they were in talks with Turkish officials on updating the EU customs union agreement between Trkiye and the bloc, and wanted visa procedures to be carried out more quickly for Turkish nationals.

The Sabah Daily News Bulletin

Keep up to date with what's happening in Turkey, its region and the world.

SIGN ME UP

You can unsubscribe at any time. By registering, you agree to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.