Tuesday, 02 January 2024 12:17 GMT

German State Strengthens Economic Cooperation with Türkiye


(MENAFN) The German state of North Rhine-Westphalia is seeking to deepen its long-established economic relationship with Türkiye and expand cooperation between the two sides, its prime minister said Wednesday.

Hendrik Wüst made the comments during the Türkiye-North Rhine-Westphalia Business Forum in Istanbul, where officials and business representatives discussed opportunities to further develop economic links.

The forum was jointly held by Türkiye’s Foreign Economic Relations Board and Germany’s NRW.Global Business trade agency.

“For decades now, people, ideas, and investment have moved in both directions. Especially now, as international trade barriers increase and supply chains are under pressure, reliable connections are more valuable than ever.

“Our aim is to build on these strong ties and strengthen our cooperation even further.”

Wüst said the state government had introduced an expedited visa procedure for Turkish business travelers, aiming to address lengthy application periods that can disrupt important in-person business cooperation.

He also supported efforts to modernize the European Customs Union, which has operated for three decades, while calling for EU industrial policies to be adjusted to reflect the changing nature of global supply networks.

Wüst characterized Türkiye as a key component of Europe’s economic value chain, highlighting the country’s importance to regional trade and investment.

He added that Türkiye was a leading destination for foreign direct investment and identified it as North Rhine-Westphalia’s third-largest trading partner.

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