The head of the German-Turkish Chamber of Commerce and Industry, Marcus Slevogt, said that the volume of trade b.

The volume of trade exchange ...

Date:

Thursday, March 3, 2022

The head of the German-Turkish Chamber of Commerce and Industry, Marcus Slevogt, said that the volume of trade b.

The volume of trade exchange between Turkey and Germany

The head of the German-Turkish Chamber of Commerce and Industry Markus Slevogt said that the volume of trade between the two countries reached a record level in 2021, amounting to 41.1 billion dollars.

Slevogt added, to the Anadolu Agency correspondent, that trade between Berlin and Ankara now constitutes nearly a quarter of the current trade volume between Turkey and 27 countries of the European Union.

He stressed that Berlin and Ankara are important partners, and that last year Germany ranked first on the list of countries importing from Turkey with $18 billion, $17.1 billion of which were from the industrial sector.

He stated that the auto industry leads the Turkish sectors exported to Germany, and added: "Although all sectors are promising in general, the development of the industrial sector in Turkey, which currently has the largest share of exports, has enabled the country's auto sector to achieve rapid development."

Slevogt indicated that Germany is interested in developing the automotive sector, especially the electric ones, and is interested in partnering with Turkey in the production of electric vehicle supplies that will dominate the transport sector in the future.

"I would like to stress that the focus of Turkey's exporters on environmentally friendly products, in line with European green energy standards, will also have a significant impact on strengthening the partnership in business activities," he added.

The number of startups in Turkey is very high

Slivogt stressed that the main objective of the German-Turkish Chamber of Commerce and Industry is to develop dialogue and commercial activities for the companies of the two countries, and that the Chamber seeks to provide the maximum benefit to the member companies of both sides.

He said that the chamber aims to form a network of relationships and open new horizons for its members, by organizing training courses and weekly workshops on various commercial and economic topics.

He pointed out that the number of promising startups in Turkey is very high, and that the Chamber views them positively, especially as it has a high potential to work in the European Union, so it is necessary to empower these companies by urging them to take the right steps and obtain appropriate funding.

He stressed the importance of startups complying well with EU laws and regulations, adding: "Steps taken to reduce Europe's carbon emissions to zero (net zero emissions) create new job opportunities."

He added, "There is a fact that must be acknowledged that all companies that aim to operate in the European Union need to achieve European standards on green energy. Therefore, we in the Chamber are following up and implementing the necessary activities so that our members can move forward with the implementation of their business activities economy according to European standards.

He stated that Turkey and Germany have close relations, in addition to that Berlin is today Ankara's most important trading partner. "Due to the Corona pandemic, which affected the global economy, the volume of bilateral trade between the two countries decreased in 2020," he said.

He added that "the cooperation between the two countries has deepened last year in various economic fields, and the volume of bilateral trade between Germany and Turkey reached a record value of 41.1 billion dollars."

Turkey is on the verge of an increase in investment and economic activity

Slevogt explained that the volume of trade between the European Union and Turkey exceeded the pre-pandemic level, reaching $178.5 billion last year.

He pointed out that the survey conducted by the International Journal of Economics "World Business Outlook" provided important positive results that reflect the volume of current cooperation and the future of trade exchange between Germany and Turkey.

He indicated that the international magazine conducts a survey twice a year, in cooperation with the Federation of German Foreign Chambers of Commerce and its members.

And he added, "Within the framework of the evaluation prospects for 2021, the magazine ranked Turkish companies operating in Germany among the list of companies that have shown good performance in overcoming the problems caused by the Corona epidemic, contributing to the protection of the supply chain and logistics services, and overcoming obstacles to the development of trade exchange."

- Search for stable and reliable alternatives

Slevogt considered that the Corona pandemic paved the way for shifts in the places of production and supply chains due to the severe turmoil that occurred in the global market, so some companies decided during the past two years to move their logistics centers from other countries to Turkey to achieve stability in supply chains.

He stated that this situation may also apply to the tension between Russia and Ukraine, adding: "Countries that buy goods from Russia and Ukraine may seek stable and reliable alternatives, and Turkey may wish to take advantage of its geographical position and qualified workforce in order to strengthen its position in the global market." .

He continued, "German companies have managed to establish their position in the Turkish market through more than 100 years of commercial activity in the region, as companies such as Bosch began operating in Turkey since 1910, Siemens since 1856, and Deutsche Bank 1909."

Slevogt explained that the number of Turkish companies in Germany has achieved a remarkable increase in recent years, in conjunction with the increase in the number of German companies operating in Turkey, which reached 7,600 companies operating in Turkey with German capital.

The flow of investments from Europe to Turkey

Ways to invest money

Investment conditions in Turkey

Real estate investment opportunities in Turkey

The importance of investing in Turkey