Turkiye aims to reach $60 billion in trade relations with Germany

Turkiye’s bilateral trade relations with Germany have achieved great successes, Turkish Ambassador to Germany, Ahmet Basar Sen, said at the 8th Turkish-German Economy Day event held in Dusseldorf by the Association of Turkish Entrepreneurs and Industrialists in Europe (ATIAD).

“We are proud of the economic vitality made possible by Turkish people in Germany ever since the 1960s, with the companies they established with large capital, as well as our young people and people with experience who created lives for themselves, working in many sectors of Europe and Germany,” said Sen.

He noted that Turkish President Recep Tayyip Erdogan visited Germany in November and his German counterpart, Frank-Walter Steinmeier, visited Turkiye at the end of April.

“These visits have revitalised and elevated our political relations, as the presidents made it clear that they intend to further develop the economic relations and the political cooperation between the two countries,” he said.

“We are working and will continue to work with all our might to reach the $60 billion target for bilateral trade, as instructed by President Erdogan,” he added.

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

Turkiye achieves great success in trade relations with Germany

Sen noted the successes achieved in bilateral trade relations.

“The state of North Rhine-Westphalia is the largest in economic size in all of Germany with 22,000 international companies operating in the region. It is also one of the regions with the highest level of Turkish-German cooperation. The foreign trade volume between Turkiye and North Rhine-Westphalia reached $11.34 billion alone in 2023,” he said.

He added that “850 Turkish companies invested in the region, and the highest number of companies established in 2022, calculated at 91, was Turkish, ahead of the numbers of US and Chinese firms.”

Sen highlighted that the private sector needs to come together to institutionalise their unity, and it is essential for companies and businesspeople to jointly operate and create joint projects in technology and education.

Visa liberalisation to greatly benefit Turkish, German businesspeople

Sen stated that updating the EU-Turkiye Customs Union and removing restrictions via ensuring visa liberalisation for Turkish citizens, as well as the free movement of goods, will greatly benefit both Turkish and German businesspeople.

“Turkiye’s full EU membership and its participation in the single market is the ultimate goal,” he said.

“Business communities of the two countries should embrace the efforts to update the EU Customs Union and make efforts for Turkiye’s participation in the single market as an EU member, because only then will we be able to create growth opportunities for both German and Turkish entrepreneurs,” he added.