Turkish, German bosses to boost energy relations

Turkish, German bosses to boost energy relations

Turkish, German bosses to boost energy relations

Turkish Anadolu Group, reportedly have reached agreement with a German copmany over $2 billion energy deal. REUTERS photo

A number of investment opportunities were discussed by Turkish and German businessmen, particularly in the energy field, Turkish Economy Minister Zafer Çağlayan has announced, making particular reference to the agreement worth $2 billion set to be reached by Anadolu Group and a German company.

“Anadolu Group’s $2 billion energy deal with a German company was due to be announced, but due to the traffic of the meeting and Merkel’s busy schedule it couldn’t be concluded,” Çağlayan said. He was discussing the highlights of the second Turkish-German CEO Forum jointly organized by the Turkish Industrialists’ and Businessmen’s Association (TUSIAD) and the German Industrialists’ Federation (BDI), and participated in by German Chancellor Angela Merkel and himself in Ankara. 

German guidance

The Anadolu Group agreement is the first discernible outcome of the two busy days, but it seems likely not to be the last one, as the main focus of the German and Turkish parties’ economic cooperation has been stated as energy deals, based on the post-meeting statements of both politicians and the businessmen. 

The liberalization of the Turkish energy market through the privatization of a number of energy companies and the phasing out of existing energy purchase deals is an opportunity for the participation of German energy stock exchange companies in the market and for the contribution of their experience, the businessmen said in joint statement published after the forum.

The forum was participated in by 16 Turkish companies’ executives including Koç Holding, Borusan, Tusaş, Doğuş, IC İçtaş, Boydak Holding, Boyner, Doğan Holding, Sabancı Holding, Polat Energy and 16 German company heads comprising Siemens , E.ON, EnBW, Lufthansa, Hitachi Power Europe, Alba, Hoffmann, Deutche Bank, Fraport, and Airbus Operations. Five companies in particular discussed cooperation in energy and various fields, providing substantial information, Çağlayan said. 

The high representatives of 14 of these companies also gathered with Turkish Energy Minister Taner Yıldız to talk about potential energy investments, particularly in coal, wind and solar energy projects, as well as the technical problems faced by German companies when conducting business. The issues will be further discussed in the Turkish-German Energy Forum that will be held later this year.“In addition to Turkey having the advantage of being a transit energy hub, we predict that its consumption will double in ten years, so we’re set to gear up our investments,” said Anne Ruth Herkes, German State Secretary at the Federal Ministry of Economics and Technology.