(MENAFN) Turkish President Recep Tayyip Erdogan has expressed his country's commitment to enhancing bilateral trade with Germany, with the goal of increasing the current volume from USD50 billion to approximately USD60 billion. This declaration was made during a joint press conference held with German President Frank-Walter Steinmeier in the Turkish capital, Ankara, on Wednesday. Erdogan emphasized the importance of fostering closer economic ties between Turkey and Germany, emphasizing a desire to shift the focus towards joint production projects in defense industries rather than dwelling on impediments.
Erdogan articulated Turkey's aspirations to eliminate restrictions in defense industries collaboration with Germany, underscoring the desire for comprehensive cooperation in this sector. Additionally, he emphasized the significance of mutual support and solidarity in the fight against terrorism, calling for increased assistance from German authorities in this regard.
The announcement aligns with previous statements from Turkish Trade Minister Omer Polat, who anticipated that the bilateral trade volume between Turkey and Germany would surpass USD50 billion by the end of 2023. Polat highlighted the substantial presence of over 8,000 German companies and German-Turkish joint ventures operating in Turkey. Furthermore, he noted that direct German investments in Turkey exceeded USD23.1 billion last year, highlighting the robust economic ties between the two nations.
Overall, Erdogan's remarks underscore Turkey's commitment to strengthening economic cooperation with Germany, with a focus on expanding bilateral trade and fostering collaboration in key sectors such as defense industries.
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