German und Turkish Flags

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Turkey's Deputy Prime Minister in charge of economic affairs, Mr Mehmet Şimşek, and the Turkish Minister of Economy, Mr Nihat Zeybekçi, welcomed Mr Thomas Bareiß, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy, in Ankara on 8 May 2018. The talks focused on further steps to deepen the bilateral economic relations.

Parliamentary State Secretary Thomas Bareiß said: "Our bilateral economic relations with Turkey are based on broad and stable foundations. But there is still a lot of potential. In the context of talks in various sectors and a meeting of the Joint Economic and Trade Commission in the second half of 2018, we hope to restore lost trust in Turkey as a place to do business and invest and we want to improve the environment for German companies in Turkey and make it more reliable. Our cooperation is particularly intensive in the energy sector. For this reason, we intend to hold a session of our German-Turkish Energy Forum before the end of 2018."

The Turkish economy grew at a rate of 7.4% in 2017.

Germany is Turkey's most important trading partner, with trade in goods amounting to €37.6 billion in 2017 (imports from Turkey totalled €16.1 billion [+5.4%], while exports amounted to €21.5 billion [-2.2%]). Germany continues to be the leading destination for Turkish goods (around 10% of all goods exported by Turkey go to Germany). For some years now, German exports to Turkey have been falling, while Turkish imports have been rising.

The joint declaration of intent to establish the German-Turkish Energy Forum was signed at ministerial level on 15 November 2012. The first session took place at ministerial level on 12 April 2013. Working groups including business representatives were set up in the following fields: renewable energies, energy efficiency, conventional power plants, electricity distribution, transmission grids, market regulation, energy exchange and consumer interests.