Türkiye-Germany trade volume set to top $50 billion

The bilateral trade volume between Türkiye and Germany is expected to surpass $50 billion at the end of this year, top Turkish officials have said.

Germany's Economic Affairs and Climate Protection Minister Robert Habeck and an accompanying delegation were in Türkiye this week for high-level talks.

Habeck met with Finance Minister Mehmet Şimşek and Trade Minister Ömer Bolat.

"We had a productive meeting," wrote Şimşek on the social media platform X, adding that Türkiye attaches great importance to its relations with Germany.

"We expect the foreign trade volume between both countries to exceed $50 billion by the end of this year."

They evaluated investment opportunities in order to further increase the ties and cooperation between both countries, the minister noted.

"We believe that Germany will provide stronger support in developing our relations with the European Union in the coming period," Şimşek said.

Bolat welcomed Habeck on the occasion of the fourth Term Meeting of the Türkiye-Germany Joint Economic and Trade Commission.

"We conducted a highly productive meeting, focusing on mutual trade, updating the Customs Union, the European Green Deal, and visa applications," Bolat said on X.

Bolat reiterated that the bilateral trade volume is on course to exceed $50 billion this year.

There are more than 8,000 companies doing business in Türkiye, which are either German-owned or established with partnerships with German firms, Bolat said, adding that Germany's direct investments in Türkiye stood at $23.1 billion as of the end of 2022.

The trade volume between Türkiye and Germany amounted to $45 billion last year.