Economy of Turkey

© iStock.com/cozyta

Today, Minister Zypries will be meeting with the Turkish Minister of Economy, Mr Nihat Zeybekçi, at the Federal Ministry for Economic Affairs and Energy. Talks will centre on German-Turkish economic relations and the need for a reliable framework for trade and investment, particularly in Turkey.

Said Minister Zypries: "For many years, Germany has had very strong economic relations with Turkey. It is important to me that our firms remain able to engage in good economic cooperation with companies in Turkey. In the view of both the Federal Government and German business, the rule of law is essential for this to be the case. Companies need a reliable framework to be able to decide whether they want to invest."

Today's meeting will be the first with a Turkish Minister of Economy since 22 January 2016, when the strategic consultations took place. A meeting of the "Joint Economic and Trade Commission" is set to take place at the end of this year or at the beginning of 2018.

Germany is Turkey's number-one trading partner. Trade between the two countries is worth more than 37 billion euros, with investments totalling more than 12 billion euros. Germany accounts for roughly a quarter of Turkish trade with the EU. More than 6,000 German companies are doing business in Turkey.