After a one-and-half-year period of political tension in Turkish-German ties, the two countries have recently embarked on intensive efforts to normalize and further ameliorate political and economic relations with mutual visits and supportive remarks.
The two sides have recently entered in a new period in bilateral relations as they aspire to capitalize on a win-win approach that prioritizes a common line of attack on global and regional issues from a strategic perspective.
Following his meeting with German ministers on Friday, Treasury and Finance Minister Berat Albayrak said in a press conference that Turkey and Germany held a very productive conference to further improve on the areas that both parties agreed on.
Minister Albayrak was accompanied by Energy and Natural Resources Minister Fatih Dönmez and Trade Minister Ruhsar Pekcan during his visit to the German capital, where he met with German Economy and Energy Minister Peter Altmaier and Finance Minister Olaf Scholz.
The Turkish finance minister said that Turkey and Germany have increased their bilateral trade volume to $38 billion over the last 16 years as both countries are determined to expand commercial ties.
Referring to President Recep Tayyip Erdoğan's upcoming visit to Germany next week, Albayrak said that it will be the president's first official state visit to the country in Turkey's new era of presidential governance. This particular aspect of President Erdoğan's visit demonstrates the importance Turkey attributes to its ties with Germany.
Speaking at the press conference, German Economy Minister Altmaier said that both Turkey and Germany have worked to overcome the problems.
"The two countries have ties dating back to more than 100 years. Turkey harbors more than 7,000 German companies and we want to further our economic ties," the German minister said.
He stressed that Turkish and German ministers have agreed on mutual geostrategic interests in Friday's meeting.
"In the upcoming period, we will also work to improve Turkey's ties with European Union," Altmaier added, emphasizing that strong ties between Turkey and the EU offer great opportunities for the economic growth of each side.
Citing his upcoming visit to Turkey in October, Altmaier said the first Joint Economic and Trade Commission (JETCO) meeting will be held then.
As part of the JETCO meeting, a forum evaluating Turkish-German economic relations and investments will be held. German companies investing and operating in Turkey will explain the opportunities in the country to new potential investors.
Trade Minister Pekcan also stressed that both Turkey and Germany are willing to enhance their economic rapport as they strive to build on century-old ties.
"Negotiations for the modernization of the Customs Union must immediately commence and we have observed Germany's willingness to support Turkey to update the deal," Pekcan said.
