Turkey, Germany vow to boost bilateral economic, trade ties

Turkey, Germany vow to boost bilateral economic, trade ties

Turkey, Germany vow to boost bilateral economic, trade ties

Turkey and Germany are determined to improve bilateral relations, ministers from the two countries said on Oct. 25.

Turkish Treasury and Finance Minister Berat Albayrak and German Economy and Energy Minister Peter Altmaier were speaking at a joint news conference in the capital Ankara ahead of the meeting of the Turkey-Germany Joint Economic and Trade Commission (JETCO).

“Germany is Turkey’s biggest trading partner. I hope this strong economic cooperation will bring political cooperation too,” Albayrak said.

The two countries are ready “politically” to set up much stronger communication channels, he added.

“I think those talks will contribute positively to our trade volume and help enhance cooperation,” said the Turkish finance minister, stating that the German minister would hold meetings with Turkish officials, including the trade minister and parliament speaker.

He said both ministers are seeking increased investment of German companies in Turkey and Turkish-German firms’ investments in other countries.

Joint trade commission to be established

“We are determined to maintain our trade ties with Turkey in difficult times, too, and we will do so,” Altmaier said, for his part.

Both sides are keen to form a joint trade commission within the scope of supporting small and medium enterprises, the German minister added.

Altmaier noted that renewable energy, tourism and new technologies will be discussed during the Turkey-Germany JETCO meeting.

“There are many people in our country who have connections in Turkey. So we want to benefit from that in the future,” he said.

Both ministers discussed measures to encourage companies to increase their investments, Altmaier said.

The German energy minister and Turkish Trade Minister Ruhsar Pekcan were due to convene the Joint Economic and Trade Commission for the first time. The commission seeks to improve trade, industry, tourism and infrastructure projects between the two countries late on Oct. 25.

Altmaier is set to open the second session of the German-Turkish Energy Forum with Turkish Energy Minister Fatih Dönmez on Oct. 26.

Relations between Ankara and Berlin have suffered several setbacks over the past years, but both sides have taken steps in recent months toward improving ties.

bilateral trade,